Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1198 Vierling Dr Shakopee, MN 55379

    • Commercial real estate
    • 68,289 SF
    • 9.09 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US46-0899083
    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.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 1198 Vierling Dr

    Year built
    1998
    Lot size
    9.09 lot acres
    Property size
    68,289 SF
    Property type
    Commercial real estate
    APN
    27-235004-0
    APU
    272350040

    Description

    Crossroads of Shakopee offers exceptional retail space in a thriving Shakopee, Minnesota location. This multi-tenant retail center boasts a total of 140,949 square feet, with several spaces currently available. Individual units range from a minimum of 1,267 square feet to a maximum contiguous space of 2,517 square feet, providing flexibility for various business needs. A total of 5,321 square feet is currently vacant and ready for immediate occupancy. The property is strategically located at 1198 Vierling Drive E, Shakopee, MN 55379, in Scott County. This high-traffic location benefits from its proximity to a major anchor tenant, Cub Foods, and enjoys excellent visibility. Serving a substantial population of 38,200 within a three-mile radius, the center experiences impressive daily traffic exceeding 38,100 vehicles. This presents a unique opportunity for businesses seeking high visibility and access to a dense customer base in a rapidly growing area. The property's convenient location, combined with its ample space and strong anchor tenant, makes it an ideal investment for retailers seeking a prime location in the Shakopee market. Contact us today to learn more about the available spaces and explore the possibilities for your business.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,495,000
      Market price range: $6.07M - $16.8M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Shakopee
    County
    Scott
    State
    Minnesota
    Longitude
    -93.5089
    Latitude
    44.7799
    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
    2024
    $183,150
    $5,775,000
    $945,000
    $6,720,000
    -
    $5,775,000
    $945,000
    $6,720,000

    Comparable in this City

    • Value Estimation by Request
      1.46 Acres

      2805 Winners Cir

      COMMERCIAL (GENERAL) • 1.46 Acres
      2805 Winners Cir, Shakopee, MN 55379-5774
      View Details
    • Value Estimation by Request
      0.01 Acres

      Shakopee, MN 55379

      COMMERCIAL (GENERAL) • 0.01 Acres
      Shakopee, MN 55379
      View Details
    • Value Estimation by Request
      0.01 Acres

      Shakopee, MN 55379

      COMMERCIAL (GENERAL) • 0.01 Acres
      Shakopee, MN 55379
      View Details
    • Value Estimation by Request
      1.99 Acres

      1605 Windermere Way

      COMMERCIAL (GENERAL) • 1.99 Acres
      1605 Windermere Way, Shakopee, MN 55379-3551
      View Details
    • Value Estimation by Request
      0.32 Acres

      Shakopee, MN 55379

      COMMERCIAL (GENERAL) • 0.32 Acres
      Shakopee, MN 55379
      View Details
    • Value Estimation by Request
      5.25 Acres

      Shakopee, MN 55379

      COMMERCIAL (GENERAL) • 5.25 Acres
      Shakopee, MN 55379
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      26,460 SF

      Prime Shakopee Industrial Space

      Large industrial lot, excellent location.
      471 Marschall Rd, Shakopee, MN 55379
      View Details
    • $8,995,000
      15.03 Acres

      Shakopee Development Land

      15-Acre Mixed-Use Opportunity
      3690 Eagle Creek Blvd, Shakopee, MN 55379
      View Details
    • New
      $10,000,000
      82.78 Acres

      Shakopee Development Land Opportunity

      82 acres in Shakopee, ripe for development.
      2468 Valley View Rd, Shakopee, MN 55379
      View Details
    • $1,000,000
      40,967 SF

      Former Theater in Shakopee Square

      Former Marcus Theatre site available within Shakopee Town Square.
      1126 Shakopee Town Sq, Shakopee, MN 55379
      View Details
    • Contact for pricing

      Former Theater Site For Sale

      Former Marcus Theatre site in Shakopee Town Square for sale.
      1116 Shakopee Town Sq, Shakopee, MN 55379
      View Details
    • $250,000
      1,141 SF

      Shakopee Townhome with Private Deck

      Charming 3-bedroom townhome with private deck and convenient location.
      2043 Brittany Ct, Shakopee, MN 55379
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      39,948 SF

      Shakopee Retail Space - 11,953 SF

      Prime Shakopee retail space, high traffic location.
      4320 12 Ave, Shakopee, MN 55379
      View Details
    • Contact for pricing
      12,000 SF

      Shakopee Executive Office/Warehouse

      Modern 10,000 SF space available. Prime location.
      1555 Maras St, Shakopee, MN 55379
      View Details
    • Contact for pricing

      Shakopee Warehouse/Distribution Space Available

      Warehouse/distribution space suitable for distribution, office warehouse, manufacturing, headquarters.
      1080 Park Pl, Shakopee, MN 55379
      View Details
    • Contact for pricing
      10,125 SF

      Shakopee Warehouse and Distribution Space

      80,000 SF building with easy highway access.
      5240-5300 Valley Industrial Blvd S, Shakopee, MN 55379
      View Details
    • Contact for pricing
      374,700 SF

      Shakopee Warehouse and Office Space

      Available warehouse and office space in Shakopee, Minnesota.
      2101 4Th Ave E, Shakopee, MN 55379
      View Details
    • Contact for pricing
      1,773 SF

      Retail Space Available For Lease

      1,773 SF in-line retail space available for immediate occupancy.
      8062-8088 Old Carriage Ct, Shakopee, MN 55379
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1198 Vierling Dr
    Shakopee, MN 55379
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.