3747 Lexington Ave, Arden Hills, MN, MN
Retail for Sale - $2,560,000 - 9,900 Sq. Ft.
Property Info
CIMLS# | 966133 |
Location 3747 Lexington Ave Arden Hills, MN MN 55126 | |
Updated | September 21st, 2017 |
Type | Retail |
Price | $2,560,000 |
Building | 9,900 Sq. Ft. |
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.