20193 Heritage Drive, Lakeville, MN 55044

Building Details

Tenancy Multi More

Listing Agency: Marcus & Millichap - San Diego

Listed By: Phil Sambazis · License #01474991 Show Phone

Source: Crexi

Added: Nov 2 Changed: Nov 8 Last Checked: Nov 8 at 5:53PM

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Investment Insights

Based on property information with market context.

The Lakeville property is occupied by two restaurant operators: Panera Bread and LeeAnn Chin. Their leases carry terms of 15 years and 10 years, respectively, and each includes a corporate guaranty.

The property is located at 20193 Heritage Drive in Lakeville, Minnesota.

Key Highlights

• Panera Bread lease term: 15 years, with a corporate guaranty
• LeeAnn Chin lease term: 10 years, with a corporate guaranty
• Located at 20193 Heritage Drive in Lakeville, Minnesota

Property Analytics

Current Use

Conventional restaurants

Suggested Use

Top Pick Restaurant Hair Salon Big Box & Wholesale Store Real Estate Agency Law Firm Spa & Massage Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

432

Businesses Nearby

98k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 44% Groceries 32% Dining 24%

Cub Foods Groceries

31,456 visits/mo 0.1 miles

Kwik Trip Shops & Services

30,477 visits/mo 0.1 miles

McDonald's Dining

19,571 visits/mo 0.1 miles

U.S. Bank Shops & Services

4,901 visits/mo 0.3 miles

Wag N' Wash Shops & Services

3,748 visits/mo 0.1 miles

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

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Frequently Asked Questions

What type of property is this?

Conventional restaurant - Panera Bread and LeeAnn Chin occupy the site under leases with corporate guaranties.

Where is this conventional restaurant located?

The property is located at 20193 Heritage Drive Lakeville, MN.

What is the asking price?

The asking price for this property is $4,389,000.

What are key features of this property?

This property features: Panera Bread lease term: 15 years, with a corporate guaranty; LeeAnn Chin lease term: 10 years, with a corporate guaranty; Located at 20193 Heritage Drive in Lakeville, Minnesota