10567 165th W, Lakeville MN

10567 165th Street W

Property Info

Two level office condo with easy access to I-35 and close to retail, restaurants, and services. Property is 100% leased to Laker Software (a Rite Aid company) with three years remaining 2 year option to extend). NOI is $100k/yr +/-. Lease is NNN and should produce a cap rate above 14%. At under $100/SF the property is offered below neighboring units price per foot (average of $115/SF per CoStar).

Outstanding turnkey opportunity for smaller investors to buy quality property with credit tenant and enjoy double digit returns.

Assessor Parcel Number: 22-44460-01-031 02 And 22-44460-01-031 01

  • City : Lakeville
  • State : MN
  • Zip Code : 55044
  • Property Type : Office
  • Square Feet : 6680
  • Lot Size : 4356
  • Year Built : 2004
  • NOI : $100,000/YR
  • Lease End Date : Nov 30, 2019
  • Renewal Option : 2 Years- 120 day notice- No rent escallation
  • Lease Type : NNN
  • Tenant : Laker Software (a Rite Aid Company)
Status:In Negotiations
Starting Bid: $619,000
Auction Start: 12/19/2016 7:00 am
Auction End: 12/22/2016 2:00 pm
  • Time Zone :Pacific
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Important Information

  • Buyers Premium :5%
  • Broker Coop :3%
  • Financing :Yes
  • Inspection Contingency :Yes
  • Showings :Tenant Occupied- Call Broker

Auction Contact

Broker Contact