Hartung Enterprises Acquires 30 81st Avenue Northeast Industrial Property For $6.75M
30 81st Avenue Northeast
$6,750,000
$427/SF
Building Size
15,780 SF
Asset Type
Industrial
Closing
Mar 18, 2024
AI
The industrial property located at 30 81st Avenue Northeast in Fridley, MN was sold for $6,750,000. The asset comprises three buildings spanning 15,780 square feet, equating to a price per square foot of $428. The transaction occurred on 03/18/2024 and involved Hartung Enterprises purchasing the property from Carlson Park Properties LLC.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $6,750,000
- Address: 30 81st Avenue Northeast, Fridley, MN
- Market: Fridley, MN
- Square Footage: 15,780
- Buyer: Hartung Enterprises
- Seller: Carlson Park Properties LLC
- Brokers: Brent Masica & Danny McNamara - Cushman & Wakefield
The deal was facilitated by the brokers Brent Masica and Danny McNamara from Cushman & Wakefield. The buyers, Hartung Enterprises of Fridley LLC, made the purchase of the industrial site with a significant outdoor storage area of almost 8 acres. This transaction marks a strategic acquisition in the industrial real estate market, showcasing the active involvement of key industry players in property investments.
Players
Minneapolis Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.35%
Cash-on-Cash
-0.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93