Log In/Sign Up
Your email has been sent.
17625 Kenrick Ave 20,567 SF Retail Building Lakeville, MN 55044 $3,400,000 ($165.31/SF)
Executive Summary
20,567 FREESTANDING BUILDING FOR SALE - NEW 10 YEAR LEASE IN PLACE!
OFFERING SUMMARY
• Address: 17625 Kenrick Avenue | Lakeville, MN 55044
• Year Built: 2011
• Land Area (Acres): 2.35 acres (102,366 sf)
• Building SF: 20,567
FINANCIAL SUMMARY
• Offering Price: $3,400,000
• Price PSF: $165.31
• NOI (In-Place): $237,740.50
• Cap Rate (In-Place): 7%
• Lease Type: Modified Gross (utilities separate)
• 2024 Estimated CAM/INS: $2.54 psf and Tax: $3.46 psf
• 2024 Tax: $71,230
INVESTMENTS HIGHLIGHTS:
• Dakota County
• Single tenancy
• 100% Occupied
• National tenant (Salvation Army)
• Lease Terms: 9/1/2024 to 8/31/2034
• Zoning: C-3 Retail Building
• Ceiling Height: 16.5’ to the deck, and 14.3’ to the bar joists
• Dock Doors: 2 with leveler
• Brand new high efficiency LED lights
• Interior is sprinkled and equipped with an alarm system
• Exterior irrigation system
• Parking Spaces: 96
• Signage visible from I-35 and located off County Road 50
• Located in the growing community of Lakeville
OFFERING SUMMARY
• Address: 17625 Kenrick Avenue | Lakeville, MN 55044
• Year Built: 2011
• Land Area (Acres): 2.35 acres (102,366 sf)
• Building SF: 20,567
FINANCIAL SUMMARY
• Offering Price: $3,400,000
• Price PSF: $165.31
• NOI (In-Place): $237,740.50
• Cap Rate (In-Place): 7%
• Lease Type: Modified Gross (utilities separate)
• 2024 Estimated CAM/INS: $2.54 psf and Tax: $3.46 psf
• 2024 Tax: $71,230
INVESTMENTS HIGHLIGHTS:
• Dakota County
• Single tenancy
• 100% Occupied
• National tenant (Salvation Army)
• Lease Terms: 9/1/2024 to 8/31/2034
• Zoning: C-3 Retail Building
• Ceiling Height: 16.5’ to the deck, and 14.3’ to the bar joists
• Dock Doors: 2 with leveler
• Brand new high efficiency LED lights
• Interior is sprinkled and equipped with an alarm system
• Exterior irrigation system
• Parking Spaces: 96
• Signage visible from I-35 and located off County Road 50
• Located in the growing community of Lakeville
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
20,567 SF
Building Class
C
Year Built
2011
Price
$3,400,000
Price Per SF
$165.31
Tenancy
Single
Building Height
1 Story
Loading Docks
2 Exterior
Building FAR
0.18
Lot Size
2.58 AC
Zoning
C-3 - General Commercial District
Parking
96 Spaces (4.67 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Freeway Visibility
- Signage
Nearby Major Retailers
Property Taxes
| Parcel Number | 22-11875-01-063 | Improvements Assessment | $1,944,700 |
| Land Assessment | $719,300 | Total Assessment | $2,664,000 |
Property Taxes
Parcel Number
22-11875-01-063
Land Assessment
$719,300
Improvements Assessment
$1,944,700
Total Assessment
$2,664,000
1 of 2
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Presented by
17625 Kenrick Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.
Your message has been sent!
Activate your LoopNet account now to track properties, get real-time alerts, save time on future inquiries, and more.