14020 Pilot Knob Rd Apple Valley, MN 55124-6601

Property Details for 14020 Pilot Knob Rd

Year built

2005

Construction

CONCRETE

Lot size

1.44 lot acres

Property size

14,672 SF

Property type

Retail space

APN

01-22528-01-020

APU

12252801020

Description

This exceptional investment opportunity presents a fee-simple Walgreens pharmacy located at 14020 Pilot Knob Rd, Apple Valley, MN 55124. The property boasts 14,672 square feet on a 1.44-acre lot with 55 parking spaces. Built in 2005 and renovated in 2011, the building is situated on a signalized, hard corner intersection offering excellent visibility. The property benefits from a strong location within a dense retail corridor, directly across from multiple schools, and enjoys a high-traffic count due to its prominent placement. The Walgreens lease, an absolute NNN lease with a corporate guarantee, provides significant security and minimal landlord responsibilities. With a remaining lease term of 6.3 years and 10 five-year renewal options, this investment offers long-term stability. The property features a strong NOI of $289,000, resulting in an attractive 8.89% cap rate. The strong demographics within the 5-mile trade area, including six-figure incomes, further enhance the investment's appeal. The property is zoned RB: Retail Business and has an APN of 01-22528-01-020. This is a rare opportunity to acquire a high-performing, nationally-branded retail property in a prime location within the Minneapolis MSA. The asking price is $3,250,000.

Location Insight

City

Apple Valley

County

Dakota

State

Minnesota

Longitude

-93.176

Latitude

44.746

CBSA code

33460

CBSA name

MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments