Lakeville, Minnesota, offers a unique opportunity for investors to capitalize on the growing demand for office properties in the area. With a population of approximately 70,000 residents, Lakeville has become a hub for businesses and industries, making it an attractive location for office properties. Office properties in Lakeville can represent a range of investments, from single-tenant buildings to multi-tenant complexes, offering a variety of options for investors. The city's strong infrastructure, including Interstate 35 and Cedar Avenue/MN 77, provides easy access to major transportation hubs, making it an ideal location for businesses. Additionally, Lakeville's highly rated school district, Lakeville Area School District 194, and its numerous parks and recreational facilities, such as Ritter Farm Park and Antlers Park, make it an attractive location for employees and residents alike. The city's proximity to Minneapolis and St. Paul also makes it an attractive option for businesses looking to establish a presence in the Twin Cities area.
Lakeville's office properties market offers a range of opportunities for investors, with 4 listings currently available. The average price per square foot for office properties in Lakeville is $144 USD, with an average size of 15,416 square feet. The largest office property available in Lakeville is 30,888 square feet. In addition to office properties, Lakeville also offers a range of other commercial properties, including commercial real estate, apartment buildings, shopping centers, and hotels. For example, the Airlake Industrial Park, a major industrial area in Lakeville, offers a range of commercial properties, including office and warehouse space. The city's apartment buildings, such as those found in the downtown area, offer a range of residential options for employees and residents. Shopping centers, like the one found on Cedar Avenue, provide a range of retail options for residents and visitors. Hotels, such as those found near Interstate 35, offer convenient accommodations for business travelers and tourists. Overall, Lakeville's office properties market offers a range of opportunities for investors, with a strong demand for office space and a range of other commercial properties available.
What is the average price per square foot for office properties in Lakeville?
The average price per square foot for office properties in Lakeville is $144 USD per square foot, with 4 available listings ranging in size from 15,416 square feet to 30,888 square feet, offering a diverse range of options for businesses and investors.
What should I know about office property classifications (Class A, B, C)?
When searching for office properties for sale in Lakeville, it's essential to understand the classification system, which categorizes properties based on their quality, amenities, and location, to make an informed decision.
- Class A office properties are typically high-rise buildings with top-notch amenities, modern infrastructure, and prime locations, often attracting high-end tenants and commanding higher rental rates.
- Class B office properties offer functional spaces with standard amenities, suitable for a wide range of businesses, and are generally more affordable than Class A properties.
- Class C office properties are often older buildings with limited amenities, requiring renovation or updating, and are usually the most affordable option, appealing to startups or small businesses.
