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Minneapolis MSA -±$3M in Sales - Rental Incrs 3913 W Old Shakopee Rd 15,618 SF Retail Building Bloomington, MN 55437 $6,173,622 ($395.29/SF) 8.75% Cap Rate
INVESTMENT HIGHLIGHTS
- The lease calls for five 10-year options, with rental increases every 10 years.
- Within a 5 mi and 10 mi radius there is approximately 75k residents and 175k residents. Average HH incomes range from $70k to $80k in a 5 mi radius.
- Over 10.6 million square feet of existing industrial space is within 3 miles of the property, with a vacancy rate under 3%.
- Walgreens has a history of strong front end sales and is reporting volumes of approximately $3M.
- The property is the only Walgreens property inside the I-35W, HWY 13 W, and HWY 169 freeway loop in West Bloomington, for over 3.5 miles.
- The property is situated at the signalized hard corner of W Old Shakopee Rd and France Ave S, with over 37,000 vehicles per day.
EXECUTIVE SUMMARY
Listed in conjunction with Brian Brockman, Bang Realty Inc, 513-898-1551, wg@bangrealty.com, MN DRE Lic. 40628602.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
15,618 SF
Building Class
B
Year Built
2008
Price
$6,173,622
Price Per SF
$395.29
Cap Rate
8.75%
NOI
$540,192
Tenancy
Single
Building Height
1 Story
Building FAR
0.30
Lot Size
1.18 AC
Zoning
Commercial
Parking
40 Spaces (2.56 Spaces per 1,000 SF Leased)
Frontage
170’ on W Old Shakopee Rd
AMENITIES
- Signage
Walk Score®
Very Walkable (74)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 19-027-24-41-0031 | Improvements Assessment | $2,622,500 |
| Land Assessment | $877,500 | Total Assessment | $3,500,000 |
PROPERTY TAXES
Parcel Number
19-027-24-41-0031
Land Assessment
$877,500
Improvements Assessment
$2,622,500
Total Assessment
$3,500,000
(619) 297-0055
x302
CONTACTS
-
Jason Pongsrikul -
Chris Barry -
Pharma Property Group- Drugstore Specialists
1 of 3
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Minneapolis MSA -±$3M in Sales - Rental Incrs | 3913 W Old Shakopee Rd
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