619 7th St Minneapolis, MN 55415-1601

Property Details for 619 7th St

Year built

1947

Construction

CONCRETE

Lot size

0.32 lot acres

Property size

7,481 SF

Zone code

B4N

Property type

Commercial real estate

APN

26-029-24-23-0016

APU

2602924230016

Description

This exceptional investment opportunity presents a 7,536 square foot, single-tenant net-leased auto shop located at 619 S 7th St, Minneapolis, MN 55415. The property, built in 1947 and renovated in 2022, sits on a 0.32-acre lot and includes 11 parking spaces. Currently occupied by Caliber Collision, a national leader in auto collision repair with over $5.7 billion in revenue, the property benefits from a 15-year lease (commencing September 1, 2015, and expiring August 31, 2030), with approximately 5.8 years remaining. The lease includes a corporate guarantee and 5% rent bumps every five years, with the next increase scheduled for September 1, 2025. Two 5-year lease options are also available. This irreplaceable location in downtown Minneapolis boasts unparalleled visibility and is less than two blocks from I-35W and I-94 access ramps, adjacent to US Bank Stadium and Hennepin Medical Hospital, and one block from the Minneapolis Skyway System. The tenant is responsible for most maintenance and repairs, with the landlord responsible for roof and structure (roof warranty until 2042). This presents a strong, recession-resistant investment with below-market rent and zero competition in the immediate area. The property's proximity to 28,000 households within a one-mile radius, each owning at least one vehicle, further enhances its investment potential. Caliber Collision's strong financial standing, recently upgraded credit rating (B2 in August 2023), and national presence provide significant security and long-term growth prospects.