Lakeville Industrial Property for
For Sale
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17625 Kenrick Avenue, Lakeville, MN 55044
20,567 SF industrial property available in Lakeville, Minnesota.
Property Size20,567 SF
Price / SF$158.02
Days on Market745
Property Features for 17625 Kenrick Avenue
General Information
Standard status
Active
Size
20,567 SF
Total Parking Spaces
96
Property subtype
Retail
Zoning
C-3 Retail Building
Occupancy
100%
Lease Type
Modified Gross
Investment Type
Net Lease
Net Operating Income
$236,873
Building Details
Year Built
2011
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Colliers - Minneapolis - St. Paul, Minnesota
Listed By:
Lisa Christianson · License #20313253
(952) 393-1212
Source:
Crexi
Added: Sep 21, 2024
Changed: Sep 24
Last Checked: Oct 4 at 10:25AM
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 - Minneapolis - St. Paul, Minnesota
Investment Insights
Based on property information with market context.
The property is a 20,567 square foot industrial property available for sale. It is located in Lakeville, Minnesota.
Key Highlights
- Built in 2011 offering relatively new construction.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$223,434
Cap Rate
6.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,468,680
$4.5M
Cap Rate 7%
$3,191,914
$3.2M
Cap Rate 9%
$2,482,600
$2.5M
Market Conditions
NOI Build-Up for 20,567 SF
Gross rent
$333.2K $16.20/SF
− Vacancy
−$14.0K −$0.68/SF
EGI
$319.2K $15.52/SF
− OpEx
−$95.8K −$4.66/SF
NOI
$223.4K $10.86/SF
Area
Dakota County, MN
Vacancy
4.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,468,680
Cap Rate 7%
$3,191,914
Cap Rate 9%
$2,482,600
Alternative Uses
Best Use
Industrial
$3.19M
$2.79M – $3.72M
NOI $223,434 @ 7.0% cap · market cap 6.87%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$5.06M
$4.43M – $5.90M
NOI $354,287 @ 7.0% cap · market cap 10.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
599
Businesses Nearby
Explore this area
Business Placement
Demographics for 55044, MN
60,446
Population
22,519
Households
2.7
Avg Household Size
37
Median Age
54%
College-Educated
97%
High-School Grad
65.3 sq mi
ZIP Area
926
Density / Sq Mi
$140,612
Median Household Income
$69,991
Median Earnings
$1,730
Median Rent
$464,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Industrial property - 20,567 SF industrial property available in Lakeville, Minnesota.
Where is this industrial property located?
The property is located at 17625 Kenrick Avenue Lakeville, MN.
What is the asking price?
The asking price for this property is $3,250,000.
What are key features of this property?
This property features: Built in 2011 offering relatively new construction.
