14205 Highway 65Ham Lake, MN 55304

Property Details for 14205 Highway 65

Year built

1985

Construction

WOOD FRAME

Lot size

12.75 AC

Property size (Sq ft)

3,000 SF

Property type

Commercial real estate

APN

29-32-23-43-0026

APU

293223430026

Description

This exceptional self-storage portfolio in Ham Lake, Minnesota, presents a compelling investment opportunity. Comprising five properties totaling 190,716 square feet across 30 buildings and 1,082 units, this stabilized portfolio boasts a current occupancy rate of 85% and a strong NOI of $1,073,838, translating to a 6.15% cap rate. Pro-forma projections indicate a significant increase in NOI to $1,300,000 and a 7.50% cap rate, reflecting substantial growth potential. The portfolio sits on 30 acres of land in Anoka County, with a mix of self-storage and parking spaces. The asking price is $17,500,000, or $17,000 per unit, and $98 per square foot. The portfolio's Class B buildings offer a mix of unit sizes to cater to diverse storage needs. The gross lease structure simplifies management, while the multi-tenancy provides a diversified income stream. This portfolio offers significant expansion potential, making it an ideal acquisition for investors seeking strong returns and long-term growth in a thriving market. The property is located at 14205 Hwy 65 NE, Ham Lake, MN 55304.

• Alternative Use

  Use

  Valuation

  Residential

  $631,330

  Hospitality

  $578,295

  Educational

  $481,135

  Medical

  $497,682

  Retail

  $748,432

Location Insight

City

Ham Lake

County

Anoka

State

Minnesota

Latitude

45.2279

Longitude

-93.2331

CBSA code

33460

CBSA name

MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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