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1700-1800 E 66th St E 9,906 SF 100% Leased Retail Building Richfield, MN 55423 $4,930,000 ($497.68/SF) 6.25% Cap Rate



Investment Highlights
- SHADOW ANCHORED BY A TOP-PERFORMING TARGET
- LESS THAN FIVE MINUTES FROM MALL OF AMERICA
- INTERNET-RESISTANT, DAILY-NEEDS TENANT MIX
- ADJACENT TO MINNEAPOLIS-ST. PAUL INTERNATIONAL AIRPORT
- DENSE INFILL LOCATION WITH HIGH BARRIERS TO ENTRY
- RECENT LEASING MOMENTUM
Executive Summary
SHADOW ANCHORED BY A TOP-PERFORMING TARGET
Ranked #8 of 70 Minnesota locations and within the top 2.5% nationally, generating exceptional customer traffic and reinforcing the strength of the retail corridor.
ADJACENT TO MINNEAPOLIS-ST. PAUL INTERNATIONAL AIRPORT
Located next to one of the nation’s busiest airports, serving 37+ million annual passengers and supporting significant daytime demand.
LESS THAN FIVE MINUTES FROM MALL OF AMERICA
Benefits from proximity to one of the country’s premier retail and entertainment destinations, attracting 30+ million visitors annually.
DENSE INFILL LOCATION WITH HIGH BARRIERS TO ENTRY
Established first-ring suburban trade area with limited land available for future retail development.
INTERNET-RESISTANT, DAILY-NEEDS TENANT MIX
Diversified lineup of service, restaurant, healthcare, and telecommunications tenants that generate recurring customer visits.
RECENT LEASING MOMENTUM
Over the past year, Noodles and River Parkway Chiropractic extended their leases and Xfinity signed a new lease.
AFFLUENT CONSUMER BASE
Average household income exceeds $144,000, with more than 20% of household earning over $200,000 annually within three miles.
PROVEN SOUTH METRO RETAIL CORRIDOR
Serves dense South Minneapolis and first-ring suburban neighborhoods with established retail demand and strong long-term consumer spending.
Ranked #8 of 70 Minnesota locations and within the top 2.5% nationally, generating exceptional customer traffic and reinforcing the strength of the retail corridor.
ADJACENT TO MINNEAPOLIS-ST. PAUL INTERNATIONAL AIRPORT
Located next to one of the nation’s busiest airports, serving 37+ million annual passengers and supporting significant daytime demand.
LESS THAN FIVE MINUTES FROM MALL OF AMERICA
Benefits from proximity to one of the country’s premier retail and entertainment destinations, attracting 30+ million visitors annually.
DENSE INFILL LOCATION WITH HIGH BARRIERS TO ENTRY
Established first-ring suburban trade area with limited land available for future retail development.
INTERNET-RESISTANT, DAILY-NEEDS TENANT MIX
Diversified lineup of service, restaurant, healthcare, and telecommunications tenants that generate recurring customer visits.
RECENT LEASING MOMENTUM
Over the past year, Noodles and River Parkway Chiropractic extended their leases and Xfinity signed a new lease.
AFFLUENT CONSUMER BASE
Average household income exceeds $144,000, with more than 20% of household earning over $200,000 annually within three miles.
PROVEN SOUTH METRO RETAIL CORRIDOR
Serves dense South Minneapolis and first-ring suburban neighborhoods with established retail demand and strong long-term consumer spending.
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Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
9,906 SF
Building Class
B
Year Built
2007
Price
$4,930,000
Price Per SF
$497.68
Cap Rate
6.25%
NOI
$308,167
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.23
Lot Size
1.01 AC
Zoning
PC-2 - Planned General Commercial per the city of Richfield
Parking
48 Spaces (4.85 Spaces per 1,000 SF Leased)
Frontage
162’ on E 66th St
Moderately walkable
60/100
Exceptionally drivable
100/100
Good public transit
70/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 26-028-24-14-0130 | Improvements Assessment | $3,159,000 |
| Land Assessment | $1,100,000 | Total Assessment | $4,259,000 |
Property Taxes
Parcel Number
26-028-24-14-0130
Land Assessment
$1,100,000
Improvements Assessment
$3,159,000
Total Assessment
$4,259,000
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