Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search

    16372 Kenrick Avenue Lakeville, MN 55044

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Commercial - Lakeville, MN

    Lot size:
    0.00 Acres
    Added:
    Sep 26, 2025
    Days on Market:
    225
    Last Refresh:
    May 8 at 3:06 pm

    Property Features for 16372 Kenrick Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Business/Commercial
    Parking features
    Parking Lot
    Exterior features
    Brick/Stone
    Standard status
    Active
    APN
    TBD
    Lot size
    0.00 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    10924

    Utilities

    Heating system
    Forced Air

    Building Details

    Year built
    2002
    Architectural style
    Other

    We can help!

    Listing Contact
    Joel Lambert

    Listing agent Joel Lambert

    Listing office RE/MAX Advantage Plus 13875 Highway 13 South, Savage, MN

    Listing date Sep 26, 2025

    MLS# 6795399 Listing URL

    Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • High‑traffic location near County Road 46 and I‑35W.
    • Private office space suitable for individual professionals, remote workers, or small business operations.
    • 186 square foot private office with closet.
    • Excellent visibility and access.
    • Flexible lease terms may be available.
    • Located in a brick/stone building built in 2002 with forced air heating and parking lot.

    Overview

    Lakeville Office Space For Sale

    A single office space is available for purchase in a high-traffic commercial area of Lakeville, Minnesota, near County Road 46 and I-35W. The property is zoned for business and commercial use. The office space measures 186 square feet (10.5 x 17.4) and includes a closet. The location offers excellent visibility and access. The 0.0043-acre lot is suitable for individual professionals, remote workers, or small business operations.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Morehouse Dan L ... Physician Belle Ami Salon Hair Salon Pamper the soul Massage Alternative Medicine Practice Matthew Schneider Dental Office Vanda Niemi Physician

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lakeville
    County
    Dakota
    State
    Minnesota
    Longitude
    -93.281012
    Latitude
    44.711643

    Nearby Similar for Sale

    • $782,000

      Mixed-Use Property on 2.6+ Acres

      Versatile commercial property with garage, bonus space, and on-site home.
      9775 215th Street W, Lakeville, MN 55044
      View Details
    • $11,120

      Lakeville Office Suite For Sale

      Professional office suite in high-visibility Lakeville corridor, ideal for medical.
      16372 Kenrick Avenue, Lakeville, MN 55044
      View Details
    • $400

      Lakeville Office Space For Sale

      Professional office space in high-traffic Lakeville commercial area.
      16372 Kenrick Avenue, Lakeville, MN 55044
      View Details
    • $850,000

      Lakeville Land with Shop/Hanger

      13.54 acres with shop/hanger near I-35 in Lakeville.
      Xxx Judicial Road, Lakeville, MN 55044
      View Details
    • $15

      New Insulated Storage Condos Available

      New storage condos for sale or lease near Lakeville and I-35.
      24947 Larson Lane, New Market Twp, MN 55044
      View Details
    • $195,000
      1,125 SF

      FlexSpace Storage Units For Sale

      FlexSpace storage units suitable for various uses, coming in 2026.
      222nd St W, Lakeville, MN
      View Details
    • Contact for pricing
      13,720 SF

      New Storage Condos at Fieldstone

      Flexible-use storage condos in Field Stone Industrial Park.
      24947 Larson Ln, Lakeville, MN
      View Details
    • $6,750,000
      89,775 SF

      Lakeville Warehouse and Distribution Facility

      89,775 SF warehouse/distribution facility in Lakeville, Minnesota.
      11356 215th St W, Lakeville, MN
      View Details
    • Contact for pricing
      62,305 SF

      Climate Controlled Warehouse Available

      62,305 SF warehouse with heavy power and outdoor storage.
      7925 215th St W, Lakeville, MN
      View Details
    • $3,400,000
      20,567 SF

      Lakeville Retail Space For Sale

      Retail space in Lakeville, MN, 100% occupied by national tenant.
      17625 Kenrick Ave, Lakeville, MN
      View Details
    • $6,750,000
      89,775 SF

      Lakeville Flex/Industrial Property For Sale

      Flex/Industrial property available for sale in Lakeville, Minnesota.
      11356 215th St W, Lakeville, MN 55044
      View Details
    • $4,500,000
      5,256 SF

      Class-A Dental Clinic with Expansion

      New dental clinic with expansion potential in Lakeville, MN.
      18389 Orchard Trail, Lakeville, MN 55044
      View Details

    FAQs

    What type of property is this?
    Office units - Single office space in high-traffic Lakeville commercial area.
    Where is this office units located?
    The property is located at 16372 Kenrick Avenue Lakeville, MN.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: High‑traffic location near County Road 46 and I‑35W.; Private office space suitable for individual professionals, remote workers, or small business operations.; 186 square foot private office with closet.
    (612) 220-2611
    We can help!
    Listing Contact
    Joel Lambert
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    16372 Kenrick Avenue, Lakeville, MN 55044
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!