Curbline Properties Acquires Retail Properties In Coon Rapids From TOLD Development For $8.18M
3582 Main Street Northwest
$8,180,000
$802/SF
Building Size
10,190 SF
Asset Type
Retail
Closing
Mar 6, 2025
AI
The transaction involved the sale of two newly built retail pad properties with drive-thrus located at 3574-3582 Main Street Northwest & Round Lake Boulevard in Coon Rapids, MN. The properties encompass a total area of 2.49 acres and have a sale price of $8,180,000. The total square footage for the assets is 10,190, which results in a price per square foot of $803.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $8,180,000
- Acres: 2.49
- Square Footage: 10,190
- Price per Square Foot: $803
- Buyer: Curbline Properties
- Seller: TOLD Development Company
- Brokers: Bill Asher & Jeff Lefko - Hanley Investment Group; Jeff Jiovanazzo & Robert Wise - CBRE
Jeff Lefko and Bill Asher represented the seller, TOLD Development Company, in the transaction. The sale was brokered by Hanley Investment Group, highlighting the involvement of notable brokerage professionals in this deal. Curbline Properties completed the acquisition, marking a significant transaction in the Coon Rapids retail market.
Players
Minneapolis Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.94%
Cash-on-Cash
-0.55%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93