17625 Kenrick Avenue

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): $241,045 • 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 LakevilleHighlights and Features: • Signage on I-35 • Parking Spaces: 96 • Ceiling Height: 16.5’ to the deck 14.3’ to the bar joists • Interior is sprinkled and equipped with an alarm system • Brand new high efficiency LED lights • Dock with leveler • Compactor outside stays with the building • Exterior irrigation system • Zoning: C-3 General Commercial District • Built in 2011 • Area tenants include Minnesota Tile & Stone, Cub Grocery, Dairy Queen, Quality Inn, Chipotle, ReStored Thrift Store, Jimmy John’s, Hotworx, Green Mill, Ace Hardware, Anytime Fitness, Wendy’s, Walgreens, BMO Harris Bank, Starbucks, Taco Bell, Great Clips, Nautical Bowls, Dollar Tree, Culver’s, Perkins, and Wells Fargo Demographics and Traffic Counts: • Average Household Population: 1 mile - 3,380, 3 miles - 22,915, and 5 miles - 64,144 • Average Household Income: 1 mile - $116,014, 3 miles - $113,009, and 5 miles - $100,837 • Kenrick Avenue - 15,200, Hwy 50 - 25,500 vpd, and I-35 - 76,034 vpd Space Available: 20,567 sf • 2024 CAM: $1.25 psf and Tax: $3.46 psf