Lakeville, Minnesota, offers a unique opportunity for investors to capitalize on the growing demand for retail properties. With a population of approximately 70,000 residents, Lakeville has become a hub for commercial activity, driven by its strategic location and excellent infrastructure. Retail properties in Lakeville represent a diverse range of investments, from small strip centers to larger shopping complexes, each offering a unique set of benefits and opportunities. The city's strong economy, fueled by major industries such as agriculture and aviation, provides a stable foundation for retail growth. Additionally, Lakeville's excellent schools, including Lakeville North and Lakeville South high schools, and its numerous parks and recreational facilities, make it an attractive location for families and businesses alike. The city's proximity to Minneapolis and St. Paul, with Interstate 35 and Cedar Avenue/MN 77 providing easy access, further enhances its appeal. With a range of amenities, including the Lakeville Area Arts Center and Orchard Lake Beach, Lakeville is an excellent choice for businesses looking to establish a strong presence in the Twin Cities area.
Lakeville's retail properties offer a range of benefits, including average prices per square foot of $302 USD and average sizes of 16,072 square feet. The largest retail property available in Lakeville spans 45,050 square feet, providing ample space for businesses to establish themselves. With an average cap rate of 6.37%, retail properties in Lakeville offer a competitive return on investment. In addition to retail properties, Lakeville also offers a range of other commercial properties, including shopping centers, restaurants, office properties, and hotels. Shopping centers in Lakeville, such as those found along Interstate 35, offer a range of retail and dining options. Restaurants in Lakeville, including those in the downtown area, provide a diverse range of culinary experiences. Office properties in Lakeville, including those in the Airlake Industrial Park, offer a range of spaces for businesses to establish themselves. Hotels in Lakeville, including those near Interstate 35, provide convenient accommodations for travelers. With its diverse range of commercial properties, Lakeville is an excellent choice for businesses looking to establish a strong presence in the Twin Cities area. Currently, there are 8 retail properties available for sale in Lakeville, offering a range of opportunities for investors to capitalize on the city's growing demand for commercial space.
What is the average cap rate for retail properties in Lakeville?
When it comes to retail properties in Lakeville, investors can expect an average cap rate of 6.37%, which is a key metric to consider when evaluating the potential return on investment. To learn more about how cap rates work and what they mean for your investment strategy, check out our article on what is a cap rate, which provides a comprehensive overview of this important concept.
How do location and foot traffic affect retail property values?
In Lakeville, Minnesota, the location and foot traffic of retail properties significantly impact their values. For instance, properties situated near major transportation hubs like Interstate 35 and Cedar Avenue/MN 77, or in areas with high foot traffic such as the Airlake Industrial Park, tend to have higher values due to their accessibility and visibility, with an average price per square foot of $302 USD and an average size of 16,072 square feet.
