1185 Town Centre Dr Eagan, MN 55123
Property Lookup
Property profile & analytics
1185 Town Centre Dr Eagan, MN 55123
- Office properties & Spaces
- 55,549 SF
- 3.19 lot acres
Property ID
US46-0471590
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Office properties & Spaces
Property Details for 1185 Town Centre Dr
- Year built
- 2000
- Construction
- STEEL FRAME
- Lot size
- 3.19 lot acres
- Property size
- 55,549 SF
- Property type
- Office properties & Spaces
- APN
- 10-28900-01-010
- APU
- 102890001010
Description
This exceptional 43,640 square foot medical office building in Eagan, Minnesota, presents a compelling value-add opportunity. Boasting a 7.50% cap rate and a strong NOI of $636,136, the property is 90.2% occupied with a diverse mix of medical tenants, including dermatology, imaging, gastroenterology, and counseling. The anchor tenant, MNGI, recently signed a five-year lease extension, securing occupancy through 2031, contributing to a weighted average lease term exceeding 16 years and a current WALT of 5.1 years. An assumable loan with a favorable 3.25% interest rate and a 2031 maturity date further enhances the investment potential. Located at 1185 Town Centre Dr, the building benefits from an affluent demographic profile, with average household incomes within a one-mile radius reaching $162,000 – 43% above the national average. Projected population and income growth within a five-mile radius over the next five years promises continued strong performance. The asking price is $8,482,000, representing a price per square foot of $194.36. Built in 2000, this single-building property (APN: 10-28900-01-010) offers significant upside potential for savvy investors. The below-market rents provide immediate opportunities for income growth.
Value Estimations
based on Realmo’s proprietary methodology
-
CAP approach
- CAP Return
- Estimation
- 6%
- $12,250,000
- 6.5%
- $11,305,000
- 7%
- $10,500,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $8,705,000
- AI Estimate
- $6,135,000
Market price range: $5.06M - $9.14MMarket price range: $1.95M - $7.20M -
Alternative Use
- Use
- Estimation
- OFFICE BUILDING
- $6,735,000 Current use
- NEIGHBORHOOD: SHOPPING CENTER
- $11,015,000 Change: +64% Conversion: Difficult
- RESTAURANT
- $10,775,000 Change: +60% Conversion: Moderate
- AUTO REPAIR, GARAGE
- $9,480,000 Change: +41% Conversion: Difficult
- WAREHOUSE, STORAGE
- $8,460,000 Change: +26% Conversion: Difficult
- RETAIL STORES
- $7,915,000 Change: +18% Conversion: Moderate
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Location Insight
- Map
- Local Demand
- City
- Eagan
- County
- Dakota
- State
- Minnesota
- Longitude
- -93.151
- Latitude
- 44.8316
- CBSA code
- 33460
- CBSA name
- MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$222,786
$2,187,100
$5,632,400
$7,819,500
-
$2,187,100
$5,632,400
$7,819,500
