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    16731 State Hwy Prior Lake, MN 55372
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    16731 State Hwy, Prior Lake, MN 55372

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    • Retail properties & Spaces
    • 81,229 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 16731 State Hwy

    Year built
    1975
    Property type
    Retail properties & Spaces

    Description

    South Lake Village, located at 16731 State Hwy 13 in Prior Lake, MN 55372, offers exceptional retail opportunities. This single-story, 81,229 square foot commercial center, built in 1975, sits on a 5.48-acre lot (APN 254700010, Scott County). Currently, there are multiple spaces available, ranging from 1,008 to 3,436 contiguous square feet, with a total of 4,444 square feet currently vacant. The property boasts prime frontage along Highway 13, within Prior Lake's central business district, benefiting from high visibility and accessibility. Anchored by Lunds & Byerlys, the center offers a diverse tenant mix, including dining and entertainment options such as the Pointe Grill & Bar. Ample parking is available for customers and employees. This established commercial destination is situated in an affluent suburb of the Twin Cities, providing a strong customer base. The property offers both storefront and interior retail spaces, catering to a variety of business needs. This is an excellent opportunity to establish or expand your business in a thriving retail environment.

    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
    -93.4282
    Latitude
    44.7066

    Comparable in this City

    • Value Estimation by Request
      81,229 SF

      16731 State Hwy

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      16731 State Hwy, Prior Lake, MN 55372
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      22,700 SF

      4460 Fountain Hills Dr

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      7,500 SF

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      0.11 Acres

      Prior Lake, MN 55372

      COMMERCIAL (GENERAL)
      Prior Lake, MN 55372
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    • Value Estimation
      $1,850,000
      10,650 SF

      5565 Credit Riv SE Rd

      COMMERCIAL (GENERAL)
      5565 Credit Riv SE Rd, Prior Lake, MN 55372-4565
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    • Value Estimation by Request
      480 SF

      4786 Dakota SE St

      COMMERCIAL (GENERAL)
      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.
      4636 Colorado St SE, Prior Lake, MN 55372
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      Prior Lake Commercial Land Available

      1.99 acres of commercial land with C-2 zoning.
      SE & Vlg Lk Dr, Prior Lake, MN 55372
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      320 Acres Mixed-Use Development Land

      320 acres of mixed-use land with development potential.
      140Th St NE, Prior Lake, MN 55372
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    • $350,000
      2.52 Acres

      2.52 Acre Homesite Opportunity

      Exceptional homesite for a custom estate home in Credit River.
      20956 Horseshoe Ct, Prior Lake, MN 55372
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      3.11 Acres Buildable Land Available

      Buildable land with utilities in Prior Lake, Minnesota.
      4230-4250 140Th St NE, Prior Lake, MN 55372
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    • $575,000

      Land For Sale

      Land available in front of Culvers at 5471 Credit River Road.
      1X Credit River Rd, Prior Lake, MN 55372
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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.
      SE & Vlg Lk Dr, Prior Lake, MN 55372
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      3,533 SF

      Downtown Prior Lake Retail Space

      Retail space for lease in a newly approved apartment building.
      4662-4664 Dakota St SE, Prior Lake, MN 55372
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      Retail Space in Prior Lake

      Retail spaces available in a high-traffic shopping center.
      6880 Boudin St NE, Prior Lake, MN 55372
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      1,236 SF

      Retail Storefront on Highway 13

      1,236 SF retail space with high visibility and traffic.
      6880 Boudin St NE, Prior Lake, MN 55372
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      1,823 SF

      Prime Commercial Space in Prior Lake

      Flexible commercial space in a high-demand, vibrant downtown location.
      4636 Colorado St SE, Prior Lake, MN 55372
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    • Contact for pricing
      2,061 SF

      Versatile Retail/Office Space Available

      1200 SF retail/office space in affluent Prior Lake area.
      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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