3221 41St StMoorhead, MN 56560

Property Details for 3221 41St St

Lot size

2.13 AC

Property type

Commercial real estate

APN

58.417.0021

APU

584170021

Description

This exceptional investment opportunity presents a 92,443 square foot truck parking lot in Moorhead, Minnesota, boasting a strong 8.04% capitalization rate and a current NOI of $88,445. The property, located at 3221 41st St S, 56560, features 50 parking spaces, currently 72% occupied (36 spaces leased) with a mix of annual and month-to-month tenants. The lot benefits from a prime location just off I-94, ensuring convenient access for commercial vehicles. Recent renovations in 2023 include the installation of new drainage, enhancing the overall functionality and appeal of the facility. Security cameras provide added safety and peace of mind. The existing lease structure includes one-year terms. The property's zoning is Commercial/Industrial, and the land value is $12.44 per square foot. The lot is situated on a 92,443 square foot parcel (APN: 58.417.0021). With potential for increased revenue through daily parking ($15/day), this property offers significant upside for a value-add investor. Partial seller financing may be available for qualified buyers. The occupancy date is September 1, 2024.

• Alternative Use

  Use

  Valuation

  Residential

  $19,525,576

  Hospitality

  $17,885,322

  Educational

  $14,880,379

  Medical

  $15,392,138

  Retail

  $23,147,256

Location Insight

City

Moorhead

County

Clay

State

Minnesota

Latitude

46.8409

Longitude

-96.7142

CBSA code

22020

CBSA name

FARGO, ND-MN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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