1185 Town Centre Dr | Eagan, MN 55123
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- LoopNet Team
1185 Town Centre Dr
Eagan, MN 55123
Town Centre Plaza · Office Property For Sale
INVESTMENT HIGHLIGHTS
- Town Centre Plaza provides ample value-add opportunity with below-market rents and 90% occupancy
- The anchor tenant for the investment, MNGI, recently signed a five-year extension, securing their tenancy through 2031
- The weighted average occupancy of the property is over 16 years, signaling the stability of the investment
- The debt is assumable and features favorable terms including a 2031 maturity and well-below-market 3.25% interest rate
- With 5.1 years of WALT, the property is positioned to provide stable cash flows while allowing for value-add opportunity
- Within a one-mile radius, the average household income is an impressive $162,000, 43% higher than the national average
PROPERTY FACTS
Property Type
Office
Property Subtype
Medical
Building Size
44,383 SF
Building Class
B
Year Built/Renovated
2000/2007
Percent Leased
97%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
22,192 SF
Building FAR
0.32
Lot Size
3.19 AC
Zoning
PD - Planned Development
Parking
217 Spaces (4.89 Spaces per 1,000 SF Leased)
PROPERTY TAXES
| Parcel Number | 10-28900-01-010 | Improvements Assessment | $6,374,400 |
| Land Assessment | $2,506,400 | Total Assessment | $8,880,800 |
PROPERTY TAXES
Parcel Number
10-28900-01-010
Land Assessment
$2,506,400
Improvements Assessment
$6,374,400
Total Assessment
$8,880,800
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