17625 Kenrick Avenue

20,567 FREESTANDING BUILDING FOR SALE - NEW 10 YEAR LEASE IN PLACE!

OFFERING SUMMARY

• Address: 17625 Kenrick Avenue | Lakeville, MN 55044
• Year Built: 2011
• Land Area (Acres): 2.35 acres (102,366 sf)
• Building SF: 20,567

FINANCIAL SUMMARY

• Offering Price: $3,400,000
• Price PSF: $165.31
• NOI (In-Place): $241,045
• Cap Rate (In-Place): 7%
• Lease Type: Modified Gross (utilities separate)
• 2024 Estimated CAM/INS: $2.54 psf and Tax: $3.46 psf
• 2024 Tax: $71,230

INVESTMENTS HIGHLIGHTS:

• Dakota County
• Single tenancy
• 100% Occupied
• National tenant (Salvation Army)
• Lease Terms: 9/1/2024 to 8/31/2034
• Zoning: C-3 Retail Building
• Ceiling Height: 16.5’ to the deck, and 14.3’ to the bar joists
• Dock Doors: 2 with leveler
• Brand new high efficiency LED lights
• Interior is sprinkled and equipped with an alarm system
• Exterior irrigation system
• Parking Spaces: 96
• Signage visible from I-35 and located off County Road 50
• Located in the growing community of Lakeville