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Obsidian Group Acquires Two Industrial Buildings In Brooklyn Park For $5 Million
SOLD
$5,000,000
Minnesota
See Similar DealsIndustrial
Sold 09/23/2025
SOLD
Obsidian Group Acquires Two Industrial Buildings In Brooklyn Park For $5 Million
6317 Welcome Avenue North
See Similar DealsIndustrial
Sold 09/23/2025
Summary
MINNESOTA
Asset Type:Industrial
Transaction Type:Sale
The asset involved in this transaction is a 1.69-acre industrial property located at 6307-6317 Welcome Avenue North in Brooklyn Park, MN. The sale price for this property was $5,000,000. The site includes two multitenant industrial buildings, contributing to a total of 30 units, of which five are vacant.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $5,000,000
- Buyer: Obsidian Group
- Seller: Caspian Group
- Financed By: Wings Credit Union
- Previous Purchase Price: $2,290,000 (in 2020)
Obsidian Group, along with local investors, acquired the property as part of a value-add fund. The seller, linked to Caspian Group, had purchased the property in 2020, indicating a significant appreciation in value since the initial acquisition.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$266,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$17,763.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$23,702.55
Annual Debt Service$284,430.61
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