7940 Penn S Ave Bloomington, MN 55431-1315
Property profile & analytics
7940 Penn S Ave Bloomington, MN 55431-1315
- Commercial real estate
- 23,019 SF
- 2.26 lot acres
Property ID
US46-1085760
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
- Commercial real estate
Property Details for 7940 Penn S Ave
- Year built
- 2006
- Lot size
- 2.26 lot acres
- Property size
- 23,019 SF
- Property type
- Commercial real estate
- APN
- 05-027-24-11-0004
- APU
- 502724110004
Description
This exceptional retail investment property in Bloomington, Minnesota, boasts a 100% occupancy rate with four strong national tenants: Walgreens, T-Mobile, Caribou Coffee, and Jimmy John's. The 22,520 square foot center sits on a 2.26-acre lot, built in 2006, and enjoys a highly visible location along I-494, averaging 157,704 vehicles daily. Its strategic outlot position near Target and Hobby Lobby, coupled with proximity to Best Buy's corporate headquarters and other major retailers (Chick-fil-A, Kohl's, TJ Maxx, etc.), ensures consistent high traffic. The property offers a compelling 6.00% cap rate and a strong NOI of $865,690, with a remaining lease term of two years. Assumable financing is available at 4.15% interest over 20 years. The exceptional demographics of the area, including a 5-mile population of 240,840 and an average household income exceeding $151,000, further solidify this investment's potential. The property's location near major transportation arteries, including MSP International Airport, and prominent shopping destinations like the Mall of America, adds to its appeal. This is a rare opportunity to acquire a well-positioned, multi-tenant retail property with significant upside potential in a thriving market. The property benefits from a low rent-to-sales ratio and features all original tenants with multiple renewals. The nearby 12-acre mixed-use development adds to the area's growth potential.
Value Estimations
based on Realmo’s proprietary methodology
-
CAP approach
- CAP Return
- Estimation
- 6%
- $4,245,000
- 6.5%
- $3,920,000
- 7%
- $3,640,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $2,417,000
Market price range: $404k - $2.53M
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Bloomington
- County
- Hennepin
- State
- Minnesota
- Longitude
- -93.3095
- Latitude
- 44.8595
- 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
$255,471
$2,458,900
$6,241,100
$8,700,000
-
$2,458,900
$6,241,100
$8,700,000
