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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    23470 Mn-7 Shorewood, MN 55331

    • Neighborhood centers
    • 62,308 SF
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Isalis / Jewelry Store / Gift Shop
    • Party City / Party Store / Balloon Store
    • Skunk Funk / Clothing Store / Corporate Campus
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / Outdoor Clothing And Equipment Shop

    Property Details for 23470 Mn-7

    Property size
    62,308 SF
    Property type
    Neighborhood centers
    Property subtype
    Retail properties

    Description

    Shorewood Village, a thriving retail strip center in Shorewood, Minnesota (zip code 55331), offers exceptional opportunities for businesses seeking high-visibility locations. Situated at 23470 MN-7, this center boasts a total of 62,308 square feet of retail space, anchored by Cub Foods, and complemented by established tenants such as Dollar Tree and True Value Hardware. The property's strategic location along Highway 7 ensures significant foot traffic and convenient access for customers. Multiple spaces are currently available, ranging from a minimum of 1,623 square feet to a maximum contiguous space of 3,393 square feet. Seven individual spaces are immediately available, with sizes varying from 1,498 to 9,624 square feet. This presents a unique opportunity for businesses of various sizes to establish a presence in a well-established and highly visible retail center. The center's strong tenant mix provides a synergistic environment, attracting a diverse customer base. The property's prime location and established tenant base make it an ideal investment for businesses seeking strong returns and a thriving retail environment. Contact us today to learn more about the available spaces and explore the possibilities for your business at Shorewood Village.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Shorewood
    County
    Hennepin
    State
    Minnesota
    Longitude
    -93.5804
    Latitude
    44.8931

    Comparable in this City

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      404 2Nd St

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    • Value Estimation by Request
      0.07 Acres

      274 Water St

      RETAIL STORES (PERSONAL SERVICES) • 0.07 Acres
      274 Water St, Excelsior, MN 55331-1862
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    • Value Estimation
      $260,000
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      603 Lk St, Unit 115

      RESIDENTIAL PARKING GARAGE • 4.64 Acres
      603 Lk St, Excelsior, MN 55331-1948
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    • Value Estimation
      $255,000
      4.64 Acres

      603 Lk St, Unit 203

      RESIDENTIAL PARKING GARAGE • 4.64 Acres
      603 Lk St, Excelsior, MN 55331-1993
      View Details
    • Value Estimation
      $260,000
      4.64 Acres

      603 Lk St, Unit 204

      RESIDENTIAL PARKING GARAGE • 4.64 Acres
      603 Lk St, Excelsior, MN 55331-1993
      View Details

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    Similar Nearby for Lease

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      62,308 SF

      Shorewood Village Retail Center

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      23470 Mn-7, Shorewood, MN 55331
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    23470 Mn-7
    Shorewood, MN 55331
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    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
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