List Search

10730-10760 Highway 55
Plymouth, MN 55441 Medicine Lake

$1,595,000 USD

Storefront For Sale  •  7,400 SF

Property Details

  • Property Type Storefront
  • Total Building Size 7,580 SF
  • Lot Size 0.64 AC
  • Building Class C
  • Year Built 1970
  • Cap Rate 8.75 %
  • Tenancy Multiple
  • Zoning C-3
20 Transit Score
50 Walk Score

Highlights

Triple Net Leases & Limited Landlord Responsibilities
New Building Improvements- New rooftop unit, new tenant buildouts in 2 out of 3 units over last 2 years
Value Add Potential- Gross lease rates are 21% below market
Additional Value Add Opportunity- Property includes +/-4580 sq. ft. of lower level space (currently not leased or included in GLA).
Leasing lower level @ 50% of current lease rates would increase NOI by $41,220/yr. At a 8.75% cap rate, this increased value by $471,085!
High Visibility! Signage facing Highway 55 with 35,500 traffic counts per day!

Property Flyers

Cap Rate: 8.75 %

Amenities

  • 24 Hour Access
  • Freeway Visibility
  • Pylon Sign
  • Signage
  • Air Conditioning

Public Transportation

Commuter RailDriveWalkDistance
Target Field Station (Northstar Corridor - Northstar Commuter Rail) 15 min - 7.4 mi
AirportDriveWalkDistance
Minneapolis-St Paul International/Wold-Chamberlain 30 min - 20.1 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 25
Type: Surface
Included in Rent: Yes
Royce Durhman 651-492-2201 KW Commercial
Royce Durhman 651-492-2201 KW Commercial