Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Neighborhood Retail Center with Pylon Signage Title is generated by Realmo AI

    8240 Commonwealth Dr, Eden Prairie, MN 55344

    View on Map
    Claim this Listing
    New
    For Lease
    Contact for pricing

    Multi-tenant neighborhood center with strong visibility and easy access at a signalized intersection.

    Type:Retail
    Property size:
    28,684 SF
    Added:
    Jun 2, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 3 at 2:18 am

    Property Features for 8240 Commonwealth Dr

    General Information

    Standard status
    Active
    Size
    28,684 SF
    Property subtype
    Retail

    Spaces For Lease

    at 8240 Commonwealth Dr Contact us

    We can help!

    Listing Contact
    Jen Helm
    Jen Helm

    Listing agent Jen Helm

    Listing office

    Listing date Jun 2, 2026

    Source Midamericagrp

    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 Jen Helm

    HighLights

    • Multi‑tenant neighborhood retail center (Lariat Center II) at 8240 Commonwealth Drive in Eden Prairie
    • Approximately 28,684 SF gross leasable area with a multi‑tenant retail layout
    • Located at the signalized intersection of Commonwealth Drive and Prairie Center Drive
    • Strong visibility with pylon signage
    • Convenient access just west of Eden Prairie Center
    • High daily traffic volumes near Flying Cloud Drive and Prairie Center Drive

    Overview

    Lariat Center II is a well-located neighborhood retail center offering approximately 28,684 square feet of gross leasable area in a multi-tenant layout. The property is designed to support storefront retail with strong visibility, featuring pylon signage to help drive brand awareness. Convenient access and a retail-focused configuration make the center straightforward for neighborhood-serving concepts.

    The center sits at 8240 Commonwealth Drive in Eden Prairie, positioned at the signalized intersection of Commonwealth Drive and Prairie Center Drive. It is located just west of Eden Prairie Center, with exposure to both local and regional consumers. Nearby Flying Cloud Drive and Prairie Center Drive contribute to high daily traffic volumes, reinforcing the property’s accessibility and street-level presence.

    This shopping center format can suit a range of tenants seeking established retail visibility within a strong retail corridor. The intersection location, pylon signage, and convenient access are practical advantages for retailers that rely on walk-up and drive-by traffic. Tenants benefit from being part of a multi-tenant environment where shoppers can complete multiple errands in one stop.
    Location Intelligence

    Current Use by Public Records

    Shopping centers

    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.

    Similar Places Nearby

    • Eden Prairie Auto Mall — 8443 Joiner Way, Eden Prairie, MN 55344
    • Coin Cloud Bitcoin ATM — 8795 Columbine Rd, Eden Prairie, MN 55344
    • Tower Square — prairie center dr, eden prairie, mn 55344
    • Eden Prairie Center — 8251 Flying Cloud Dr, Eden Prairie, MN 55344
    • Lariat Center I — Joiner Way, Eden Prairie, MN 55344

    Location Insight

    • Map
    • Local Demand
    City
    Eden Prairie
    County
    Hennepin
    State
    Minnesota
    Longitude
    -93.4340303
    Latitude
    44.8548977

    Nearby Similar for Lease

    • Sponsored
      $129-$6,366/Mo
      11-1,292 SF

      Crosstown Corporate

      6385 Old Shady Oak Rd, Unit 250, Eden Prairie, MN 55344
      View Details
    • $25 SF/Yr
      5,114 SF

      Turn-Key Medical Office Building

      Standalone medical office with medical-ready layout, dedicated parking, and prominent signage for strong patient and staff visibility.
      6446 City West Pkwy, Eden Prairie, MN 55344
      View Details
    • $12 SF/Yr
      1,633 SF

      Professional Office Building with Elevator

      Attractive office space with abundant natural light and nearby amenities.
      7700 Equitable Dr, Eden Prairie, MN 55344
      View Details
    • $7 SF/Yr
      2,764 SF

      Eden Prairie Office For Sale

      Office property in Eden Prairie with ample parking and conference room.
      10125 Crosstown Cir, Eden Prairie, MN
      View Details
    • $16 SF/Yr
      8,880 SF

      Eden Prairie Office Space Available

      203,511 SF office complex with lake views for rent.
      11010 Prairie Lakes Dr, Eden Prairie, MN
      View Details
    • $23 SF/Yr
      8,188 SF

      Eden Prairie Office Space Available

      Office space for rent with high visibility and easy access.
      7500 Flying Cloud Dr, Eden Prairie, MN
      View Details
    • $10 SF/Yr
      4,060 SF

      New Office Space For Rent

      Brand-new office space with terrace access and covered parking.
      6640 Shady Oak Rd, Eden Prairie, MN
      View Details
    • Contact for pricing
      25,000 SF

      Eden Prairie Lakeside Office Space

      Office space for lease in prime Eden Prairie location.
      11000 Prairie Lakes Drive, Eden Prairie, MN 55344
      View Details
    • $10 SF/Yr
      1,246 SF

      New Office Suite with Parking

      Corner office suite with modern amenities and highway access.
      6600 City West Pkwy, Eden Prairie, MN
      View Details
    • $16 SF/Yr
      1,017 SF

      Eden Prairie Office Space Available

      Office space for lease near highways and surrounding cities.
      6520-6532 Edenvale Blvd, Eden Prairie, MN
      View Details
    • $14 SF/Yr
      3,637 SF

      Eden Prairie Office Space Available

      Class A office space with easy access to amenities.
      14850 Scenic Heights Rd, Eden Prairie, MN
      View Details
    • $19 SF/Yr
      7,091 SF

      Eden Prairie Office/Medical Space

      8,353 RSF available in state-of-the-art building.
      18315 Cascade Dr, Eden Prairie, MN
      View Details

    FAQs

    What type of property is this?
    Shopping center - Multi-tenant neighborhood center with strong visibility and easy access at a signalized intersection.
    Where is this shopping center located?
    The property is located at 8240 Commonwealth Dr Eden Prairie, MN.
    What are key features of this property?
    This property features: Multi‑tenant neighborhood retail center (Lariat Center II) at 8240 Commonwealth Drive in Eden Prairie; Approximately 28,684 SF gross leasable area with a multi‑tenant retail layout; Located at the signalized intersection of Commonwealth Drive and Prairie Center Drive
    (651) 470-5959
    We can help!
    Listing Contact
    Jen Helm
    Jen Helm
    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
    8240 Commonwealth Dr, Eden Prairie, MN 55344
    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!