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Walgreens: Eden Prairie, MN 16395 Wagner Way 14,490 SF Retail Building Eden Prairie, MN 55344 $5,400,000 ($372.67/SF) 8.01% Cap Rate
Investment Highlights
- Originally set to expire in 2028, Walgreens exercised its first two, 5-year renewal options in 2024, extending the firm term through 2038.
- 3.9 MSF of retail, 2.7 MSF of office, 4.3 MSF of industrial and 6,340 multifamily units within a 3-mile radius.
- Very strong gross sales reports in excess of $4M.
- Tenant responsible for taxes, insurance and common areas. No landlord expenses.
Executive Summary
CBRE is pleased to exclusively offer for sale the 14,490 square-foot Walgreens situated on 3.19 acres in Eden Prairie, MN - a component of the broader Minneapolis-St. Paul-Bloomington, MN-WI Metropolitan Statistical Area (Population: 3.8M). Originally set to expire in 2028, Walgreens exercised its first two, 5-year renewal options in 2024, extending the firm term through 2038. The lease currently features ±12.9 years of firm term remaining with ten, 5-year renewal options. Opened in 2003, Walgreens boasts a long-term operating history of 22 years. Very strong gross sales reports in excess of $4M. By visits, this Eden Prairie store ranks among the top 19% of Walgreens nationwide and the top 14% throughout Minnesota, according to Placer.ai.
Property Facts Under Contract
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,490 SF
Building Class
B
Year Built
2003
Price
$5,400,000
Price Per SF
$372.67
Cap Rate
8.01%
NOI
$432,276
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Lot Size
3.19 AC
Zoning
C-COM
Parking
87 Spaces (6 Spaces per 1,000 SF Leased)
Frontage
274’ on Wagner Way
Amenities
- Signage
- Signalized Intersection
- Drive Thru
Bike Score®
Very Bikeable (72)
Nearby Major Retailers
Property Taxes
| Parcel Number | 08-116-22-44-0041 | Improvements Assessment | $1,033,000 |
| Land Assessment | $2,300,000 | Total Assessment | $3,333,000 |
Property Taxes
Parcel Number
08-116-22-44-0041
Land Assessment
$2,300,000
Improvements Assessment
$1,033,000
Total Assessment
$3,333,000
Contacts
-
Christopher Bosworth -
Brian Pfohl -
Thomas Carr -
Abby Kelly -
Katie Goldberg -
Leah Lindell -
Kaitlyn Wolf -
Sean Doyle -
CBRE, Inc.
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Walgreens: Eden Prairie, MN | 16395 Wagner Way
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