Agenda - Council - 09/13/2016 - Laserfiche WebLink

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APPENDIX F Miscellaneous — Listing Agent Letter Mmeeµobi 5' Ru 71/2016 4350 3e3er kcwy Sw.0 4E G µ;mwawke NN 53343 WWW rat111312 rM Patrick 1 13rama City of Ramsey Economic Development Manaeer 7550 Sunwood Drive NW Ramsey, MN 55303 RE; 6401 Highway 10, Ramsey, MN 55303 Patrick, Fax + 9�2 097 i +Lv • 952 89r 7704 Colliers International is pleased to present a 1.64 acre former Shell Gas station to the market_ 1n its current condition, the subject pmperty is a closed 3,900 SE building with a 4,683 SF carwash totaling 8.513 SF. The property has a modern layout with a retail sales area that allows for the sale of many food and beverage products, as well as the ability to house two express serve Cast food restaurants. Our asking price for the property is S695,000. in 2015, (:alhoun Companies listed the property for S1,495,000. Ownership has given clear direction the property must be sold in 2016. The price reduction has increased our marketability and overall reach to prospective buyers. This property is ready for private sector investment. With the aggressive listing price, a real estate investor can buy the property. add CapEi, and he ready to lease —1- 3,900 SF of retail space at aggressive lease rates. Due to the investor's low basis in the property, he'she should be abSe to quickly add net operating income to this closed gas station. By selling this property back to the private sector now, the cost for the State to repurchase in the finure will be substantially higher than S695,000. Not only will the State have to relocate the tenants, but they will also be required to purchase the property based on the income being generated_ This will raise the price significantly compared to the price at which the property is currently being marketed. Thank you for your consideration. Sincerely, (7--A Nate Hansen Colliers International 952-374-5856 Nate. Hansen (ntColliers.com Aid