17625 Kenrick Ave, Lakeville, MN 55044
Retail space in Lakeville, MN, 100% occupied by national tenant.
- Added:
- Sep 20, 2024
- Days on Market:
- 634
- Last Refresh:
- Apr 5 at 8:14 pm
Property Features for 17625 Kenrick Ave
General Information
- Standard status
- Active
- Size
- 20,567 SF
- Lot size
- 2.35 Acres
- Property subtype
- RETAIL
Listing agent Lisa Christianson License #MN 20313253 (952) 393-1212
Listing office Colliers (952) 393-1212
Listing date Sep 20, 2024
Source Moodyscre
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Colliers
HighLights
- 100% Occupied by a national credit tenant (Salvation Army)
- Attractive 7% Cap Rate based on in‑place NOI of $237,740.50
- Long‑term lease in place from 9/1/2024 to 8/31/2034
- Signage visible from I‑35
- Large 20,567 SF building on 2.35 acres in growing Lakeville community
- Two dock doors with levelers and 96 parking spaces
Overview
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $370.2k | $18.00 |
| − Vacancy | −$60.3k | −$2.93 |
| EGI | $309.9k | $15.07 |
| − OpEx | −$93.0k | −$4.52 |
| NOI | $216.9k | $10.55 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Lakeville
- County
- Dakota
- State
- Minnesota
- Longitude
- -93.2891
- Latitude
- 44.6942
