3747 Lexington Ave, Arden Hills, MN MN

Retail for Sale - $2,560,000


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Agent Info

NameBraden Crockett

Property Info

CIMLS #966133
Location3747 Lexington Ave
Arden Hills, MN MN 55126
Last UpdatedSeptember 21st, 2017
TypeRetail
Price$2,560,000

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Property Description

3-Tenant Low-Maintenance +/-10,000 SF Strip Center

Offered at an attractive 6.50% Cap rate for $2,746,585

Wealthy Demographic - Average Incomes in the 1-Mile radius over $100,000

New 10 Year NNN Lease Recently Executed with National Tire and Battery

New 10 Year NNN Lease Extension recently executed with Midwest Detailing

New 3 Year NNN Extension Recently Executed by Enterprise Rent a Car

All of the tenants reimburse for Taxes, Insurance and CAM inclusive of a $6,000 management fee.

Located +/- 2-Miles South of the proposed "Rice Creek Commons" development site which sits on 427 Acres and is slated to begin construction in late 2017

Rice Creek Commons plans to be a mix of 50% residential and 50% commercial which is projected to increase traffic on Lexington Ave.

Immediate Trade Area:

Directly Across the street from Target, one-block north of Cub Foods anchored center and down the street from a new Trader Joe's.

Trader Joe's, 15,000SF strip center and Raising Cane's were all recently developed in 2013 and 2014, respectively.

1-Mile south of Boston Scientific's (NYSE Ticker: BSX) Arden Hills Campus which employ's over 2,500 individuals.


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