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    MN Prior Lk Prior Lake, MN 55372
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    MN Prior Lk, Prior Lake, MN 55372

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    • Retail properties & Spaces
    • 7,500 SF
    • 2.32 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for MN Prior Lk

    Year built
    2024
    Lot size
    2.32 lot acres
    Property type
    Retail properties & Spaces
    Property subtype
    Office Spaces

    Description

    Jeffers Lodge offers 3,000 square feet of brand-new medical office space available for lease in Prior Lake, Minnesota. This single-story, 7,500-square-foot building is part of the larger Jeffers Commons development, providing convenient access to daycare, retail, and residential housing. Construction is underway, with completion expected in Fall 2024. The building features ample parking and offers flexible space options, with a minimum divisible space of 1,200 square feet and a maximum contiguous space of 3,000 square feet. Located at the intersection of CR-42 and CR-21, adjacent to the Jeffers Foundation Learning Center, this property benefits from a rapidly expanding residential population base. The property sits on 2.315 acres of land and is zoned PUD (Planned Unit Development). The APN is 255690010, located in Scott County. This is a rare opportunity to secure space in a new construction project within a thriving community. End-cap and in-line spaces are available. Ideal for medical practices seeking a modern, well-located facility.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Prior Lake
    County
    Scott
    State
    Minnesota
    Longitude
    -93.4412
    Latitude
    44.7467

    Comparable in this City

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      81,229 SF

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      81,229 SF

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      0.11 Acres

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    • Value Estimation
      $1,850,000
      10,650 SF

      5565 Credit Riv SE Rd

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    • Value Estimation by Request
      480 SF

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      4786 Dakota SE St, Prior Lake, MN 55372-1712
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    Similar Nearby for Sale

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      0.14 Acres

      Prime Commercial Space in Prior Lake

      Flexible commercial space in a high-demand, vibrant community.
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      21,588 SF

      Former School District Office Building

      21,588 SF office building with 2,700 SF storage/garage.
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    • New
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      Versatile Office Building

      Well-maintained office building built in 2002 with flexible space and visibility in the Prior Lake area.
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      2,900 SF

      Eagle Creek Office Space Available

      Office space available on Eagle Creek, ranging from 1400-2900 sq.ft.
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      Prior Lake Commercial Land Available

      1.99 acres of commercial land with C-2 zoning.
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      320 Acres Mixed-Use Development Land

      320 acres of mixed-use land with development potential.
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    Similar Nearby for Lease

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      Land Available For Lease

      Commercial land available for lease in Prior Lake, Minnesota.
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      1,823 SF

      Prime Commercial Space in Prior Lake

      Flexible commercial space in a high-demand, vibrant downtown location.
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      2,061 SF

      Versatile Retail/Office Space Available

      1200 SF retail/office space in affluent Prior Lake area.
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      Retail and Office Complex

      Office and retail complex in Prior Lake's central business district.
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      Prime Commercial Space in Prior Lake

      Excellent visibility, accessibility, and high-traffic location in growing community.
      4636 Colorado St SE, Prior Lake, MN 55372
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      Prior Lake Retail/Office/Service Space

      Retail, office, service space available in Prior Lake, Minnesota.
      15875 Franklin Trl SE, Prior Lake, MN 55372
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    Prior Lake, MN 55372
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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.

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