275 33Rd StHastings, MN 55033

This exceptional investment opportunity encompasses a diverse portfolio of income-producing properties in Hastings and Cannon Falls, Minnesota. The portfolio includes two strip malls and an outlot, totaling 11,249 square feet of net rentable climate-controlled self-storage space, plus 11,680 square feet of cold storage and 46,571 square feet of retail space. The Hastings location features integrated Noke Smart Locks. The portfolio boasts a strong blend of long-term retail tenants and converted climate-controlled storage units, presenting a value-add opportunity for a savvy investor. Significant upside potential exists through occupancy increases, further storage conversions, new square footage development, rate management optimization, and operational improvements. The asking price is $4,400,000, with individual property pricing available: $2,300,000 for Cannon Falls, $1,600,000 for Hastings, and $500,000 for the Hastings outlot. The seller prefers to sell the portfolio as a whole but is open to considering other options. Projected cap rates are compelling: T-6 blended cap rate of 6.5%, Year 1 cap rate of 8%, and Year 3 cap rate of 10.2%. The properties are strategically located in high-traffic areas, experiencing over 25,000 vehicles daily, and benefit from a dense population of 30,510 within a 5-mile radius, projected to grow by 3.2% by 2026. Creative financing options are available, with seller financing preferred for a qualified buyer. The Hastings property is located at 275 33rd St W, Hastings, MN 55033, and the Cannon Falls property is located at 31254 County 24 Blvd, Cannon Falls, MN 55009.