Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    17625 Kenrick Ave Lakeville, MN 55044

    For Sale
    $3,400,000

    High-Cap Rate Warehouse, 20,567 SF

    Property size:
    20,567 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional 20,567-square-foot warehouse in Lakeville, Minnesota, presents a compelling investment opportunity. Boasting a 7.00% cap rate and a strong NOI of $241,045, this single-tenant property is fully occupied by a national tenant (Salvation Army) under a 10-year lease commencing August 31, 2024, and expiring August 30, 2034. Situated on a 2.35-acre lot in Dakota County, the property features 96 parking spaces, two dock-high doors with levelers, and a 16.5' ceiling height (14.3' to bar joists). Built in 2011, this one-story warehouse is zoned C-3 Retail Building and includes modern amenities such as brand new high-efficiency LED lighting, a sprinkler system, an alarm system, and an exterior irrigation system. Its prime location offers excellent visibility from I-35 and County Road 50, within the thriving Lakeville community. The asking price is $3,400,000, translating to $165.31 per square foot. This is a rare opportunity to acquire a high-performing, well-located industrial asset with a long-term lease in place.

    Property Features for 17625 Kenrick Ave

    General Information

    Property type
    Distribution properties
    Square Feet
    20,567 SF
    Lot Size
    102,366 SF

    Building Details

    Year Built
    2011
    Stories
    1

    HighLights

    • Lakeville, MN location in Dakota County.
    • Single‑tenant, 100% occupied warehouse.
    • National tenant (Salvation Army) with a 10‑year lease (9/1/2024 - 8/31/2034).
    • C‑3 Retail Building zoning.
    • 20,567 SF warehouse with 16.5' ceiling height (14.3' to bar joists), two dock‑high doors with levelers, and 96 parking spaces.
    • Features include new high‑efficiency LED lighting, sprinkler system, alarm system, and exterior irrigation system.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Distribution centers

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lakeville
    County
    Dakota
    State
    Minnesota
    Longitude
    -93.2891207
    Latitude
    44.6941996

    Nearby Similar for Sale

    • Contact for pricing
      0.10 Acres

      Lakeville Office Suite For Sale

      Professional office suite in high-visibility Lakeville corridor, ideal for medical.
      16372 Kenrick Ave, Lakeville, MN 55044
      View Details
    • $782,000
      2.64 Acres

      Mixed-Use Property on 2.6+ Acres

      Versatile commercial property with garage, bonus space, and on-site home.
      9775 215Th St W, Lakeville, MN 55044
      View Details
    • $360,000
      0.05 Acres

      Garage Condo with Mezzanine

      Unique garage condo with mezzanine, extra outlets, and epoxy floor.
      24947 Larson Ln, Lakeville, MN 55044
      View Details
    • Contact for pricing
      0.00 Acres

      Lakeville Office Space For Sale

      Single office space in high-traffic Lakeville commercial area.
      16372 Kenrick Ave, Lakeville, MN 55044
      View Details
    • Contact for pricing
      0.05 Acres

      New Insulated Storage Condos Available

      New storage condos for sale or lease near Lakeville and I-35.
      24947 Larson Ln, Lakeville, MN 55044
      View Details
    • Contact for pricing
      0.00 Acres

      Lakeville Office Space For Sale

      Professional office space in high-traffic Lakeville commercial area.
      16372 Kenrick Ave, Lakeville, MN 55044
      View Details

    FAQs

    What type of property is this?
    Distribution property - High-Cap Rate Warehouse, 20,567 SF
    Where is this distribution property located?
    The property is located at 17625 Kenrick Ave Lakeville, MN.
    What is the asking price?
    The asking price for this property is $3,400,000.
    What are key features of this property?
    This property features: Lakeville, MN location in Dakota County.; Single-tenant, 100% occupied warehouse.; National tenant (Salvation Army) with a 10-year lease (9/1/2024 - 8/31/2034).
    Request Owner's contact information
    17625 Kenrick Ave Lakeville, MN 55044
    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.
    17625 Kenrick Ave
    Lakeville, MN 55044
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimation

    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.

    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.

    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
    17625 Kenrick Ave Lakeville, MN 55044
    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
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.