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3340 Sherman Ct 8,192 SF 100% Leased Office Building Eagan, MN 55121 $2,275,000 ($277.71/SF) 7.77% Cap Rate
Investment Highlights
- 7.77% in-place cap rate supported by long-term medical anchor tenancy, expense reimbursements, and stable cash flow.
- 100% occupied medical/professional building with near-term value-add flexibility from smaller lower-level suites and strong visibility from I-35E.
- Anchored by Smile Doctors (Lakeside Orthodontics) under a long-term lease through 2029 with annual rent escalations and renewal options.
Executive Summary
Well-maintained medical / professional office building offering a 7.8% in-place cap rate with stable income, long-term anchor tenancy, and upside potential. Located in Eagan with excellent access to I-35E, strong visibility, and ample on-site parking. The property is 100% occupied by three tenants, anchored by Smile Doctors (dba Lakeside Orthodontics) on the upper level. Lower-level tenants include EveresT Men’s Health and a Farmers Insurance agent, providing near-term flexibility for renewal or re-tenanting. An attractive opportunity for investors seeking medical office exposure with in-place cash flow, expense protection, and value-add potential.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Medical
Building Size
8,192 SF
Building Class
B
Year Built
2005
Price
$2,275,000
Price Per SF
$277.71
Cap Rate
7.77%
NOI
$176,768
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
4,096 SF
Building FAR
0.16
Lot Size
1.14 AC
Zoning
PD - This property is part of a planned unit development (PUD).
Parking
38 Spaces (4.64 Spaces per 1,000 SF Leased)
Amenities
- Security System
- Signage
- Wheelchair Accessible
- Monument Signage
- Air Conditioning
- Smoke Detector
Property Taxes
| Parcel Number | 10-14225-01-060 | Total Assessment | $1,382,100 (2024) |
| Land Assessment | $604,400 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $777,700 (2024) | Tax Year | 2025 |
Property Taxes
Parcel Number
10-14225-01-060
Land Assessment
$604,400 (2024)
Improvements Assessment
$777,700 (2024)
Total Assessment
$1,382,100 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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3340 Sherman Ct
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