Shakopee Town Square
1131 Shakopee Town Square Shakopee, Minnesota, (Minneapolis)
- 124,035 Square Feet
- For Sale
Building Size: 124,207 SF
Year Built: 1974 / 1992
Land Size: 732,243 square feet or 16.81 acres
Current Occupancy: 65%
Parking Ratio: 4.2/1,000 SF
Offering Price: $4,000,000
Price PSF: $32.25
In-Place NOI: $478,740
Independent School District 720 leases 44% of the GLA creating a solid core tenancy with strong credit.
At 65% occupancy, a future investor has the ability to capture immediate increase in income through lease-up.
The In-Place NOI provides a leveraged cash on cash return of 27%.
Potential to Reposition:
A future owner has the flexibility to reposition the Property or lease it in its current configuration.
Below Replacement Cost:
At $32 per square foot, the Property is priced significantly below replacement cost.
New Highway Interchange:
The property is located directly off of the newly constructed interchange of US Highway 169 and Highway 69, which replaced an at-grade intersection and stoplights in October 2014.
The Property is being offered free and clear of existing debt allowing investors to take advantage of today’s favorable debt terms.
The Shakopee Mdewakanton Sioux Community (SMSC):
SMSC is a federally recognized sovereign Indian tribe of Mdewakanton Dakota people, located in the cities of Prior Lake and Shakopee. The 480 member tribe is the wealthiest in US history, each member receives approximately $1M per year, which translates to buying power and benefits all retail and service businesses in the immediate area.
Area Available: 124,035 Square Feet