Walgreens Retail Drug
For Sale
$4,200,000
18267 Carson Ct NW, Elk River, MN 55330
Walgreens drug store situated in a high-traffic retail corridor within the Minneapolis MSA.
Property Size14,721 SF
Days on Market189
Property Features for 18267 Carson Ct NW
General Information
Standard status
Active
Size
14,721 SF
Property subtype
Commercial
Lease Term
±10 YRS
Net Operating Income
$315,000
Additional Details
Traffic Count
57,000 vehicles/day
Building Details
Building Size
14,721 SF
Year Built
2005
Listing Agency:
Matthews Real Estate Investment Services | Austin
Listed By:
Christian Becker · License #License No. 794055
(512) 430-4466
Source:
Matthews
Added: Apr 13
Changed: Oct 3
Last Checked: Oct 16 at 5:41AM
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 Matthews Real Estate Investment Services | Austin
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This Walgreens drug store is offered as a commercial retail property in Elk River, Minnesota, within the Minneapolis MSA. The property information identifies the site at 18267 Carson Ct NW.
The location is associated with a retail corridor generating more than 57,000 vehicles per day. Area population growth is listed at 10%, and the lease terms include 5% rent increases.
The location is associated with a retail corridor generating more than 57,000 vehicles per day. Area population growth is listed at 10%, and the lease terms include 5% rent increases.
Key Highlights
- Walgreens drug store in the Minneapolis MSA
- More than 57,000 VPD
- 10% population growth
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$217,944
Cap Rate
5.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,358,880
$4.4M
Cap Rate 7%
$3,113,486
$3.1M
Cap Rate 9%
$2,421,600
$2.4M
Market Conditions
NOI Build-Up for 14,721 SF
Gross rent
$309.1K $21.00/SF
− Vacancy
−$18.5K −$1.26/SF
EGI
$290.6K $19.74/SF
− OpEx
−$72.6K −$4.94/SF
NOI
$217.9K $14.81/SF
Area
Sherburne County, MN
Vacancy
6.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,358,880
Cap Rate 7%
$3,113,486
Cap Rate 9%
$2,421,600
Alternative Uses
Best Use
Specialty Retail
$3.11M
$2.72M – $3.63M
NOI $217,944 @ 7.0% cap · market cap 5.19%
Second Best
Retail
$2.59M
$2.27M – $3.02M
NOI $181,310 @ 7.0% cap · market cap 4.32%
Theoretical Best
Office A
$3.51M
$3.07M – $4.10M
NOI $245,849 @ 7.0% cap · market cap 5.85%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
57,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
779
Businesses Nearby
326k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 39%
Superstores 29%
Shops & Services 19%
Home Improvements & Furnishings 10%
Walmart
Superstores
93,270 visits/mo
0.3 miles
The Home Depot
Home Improvements & Furnishings
31,112 visits/mo
0.5 miles
McDonald's
Dining
29,077 visits/mo
0.5 miles
Chipotle Mexican Grill
Dining
17,563 visits/mo
0.1 miles
Holiday Station Store
Shops & Services
17,398 visits/mo
0.1 miles
Demographics for 55330, MN
43,626
Population
16,796
Households
2.6
Avg Household Size
37
Median Age
33%
College-Educated
94%
High-School Grad
106.6 sq mi
ZIP Area
409
Density / Sq Mi
$111,481
Median Household Income
$59,332
Median Earnings
$1,356
Median Rent
$355,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- Walmart Pharmacy — 18185 Zane St NW, Elk River, MN 55330
- Jeanne K. Greisen, RPH — Elk River, MN 55330
- Mc Chesney Joyann M — 323 Jackson Ave NW, Elk River, MN 55330
- Paul R. Ebert, RPh — 323 Jackson Ave NW, Elk River, MN 55330
- Kemper Corner Drug — 323 jackson ave nw, elk river, mn 55330
Frequently Asked Questions
What type of property is this?
Drug store - Walgreens drug store situated in a high-traffic retail corridor within the Minneapolis MSA.
Where is this drug store located?
The property is located at 18267 Carson Ct NW Elk River, MN.
What is the asking price?
The asking price for this property is $4,200,000.
What are key features of this property?
This property features: Walgreens drug store in the Minneapolis MSA; More than 57,000 VPD; 10% population growth
