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PROPERTY INFORMATION
Address: 1529-1667 17th Avenue
Net Rentable Area: 158,647 SF
Number of Buildings: 4
Land Area: 730,399 SF/16.76 acres
Current Occupancy: 97.55%
FINANCIAL SUMMARY
Offering Price: $20,000,000
Price PSF: $126.07
Proforma NOI: $1,477,835
Year One Cap Rate: 7.39%
Leveraged IRR: 17.00%
INVESTMENT HIGHLIGHTS
Durable Income Stream
The Property is 97.55% occupied by 14 tenants. More than 86% of the net rentable area is occupied by original tenants.
Investment Grade Tenants
Both Kohl's and AutoZone are S&P rated BBB- representing 59% of the Property's net rentable area.
Superior Location
The Property is strategically located at the interchange of U.S. Highway 169 and Marschall Road, the two major arterial roadways in Shakopee. The combined average daily traffic count is 51,800.
Desirable Anchors
Kohl's is the Property's largest tenant and is complimented by the community's only Target Store.
Fast Growing and Strong Demographics
The City of Shakopee has grown over 88% in the past 15 years and within a five (5) mile radius has an average household income of $116,000.
Unsurpassed Employment Growth
Amazon, Seagate, Shutterfly, Data Card and Emerson have recently built new or significantly expanded facilities in Shakopee.
Solid Property Attributes
The Property features the main retail building occupied by the anchor tenants and three (3) outlot buildings, each with spacious parking fields.
St. Francis Regional Medical Center
The Property is directly adjacent to St. Francis Regional Medical Center, one of the nation's top hospitals with 85 private rooms and 57 surgical centers.
Debt Free - Superior Returns
The Property is offered free and clear of existing debt allowing investors to deploy a substantial amount of equity in one transaction and for those investors seeking to place debt on the Property, access to very favorable debt markets.
CLICK HERE TO COMPLETE THE CONFIDENTIALITY AGREEMENT
