14020 Pilot Knob RdApple Valley, MN 55124

Property Details for 14020 Pilot Knob Rd

Year built

2005

Construction

CONCRETE

Lot size

1.44 AC

Property size (Sq ft)

14,672 SF

Property type

Retail space

APN

01-22528-01-020

APU

12252801020

Description

This exceptional investment opportunity presents a fee-simple Walgreens pharmacy located at 14020 Pilot Knob Rd, Apple Valley, MN 55124. The property boasts 14,672 square feet on a 1.44-acre lot with 55 parking spaces. Built in 2005 and renovated in 2011, the building is situated on a signalized, hard corner intersection offering excellent visibility. The property benefits from a strong location within a dense retail corridor, directly across from multiple schools, and enjoys a high-traffic count due to its prominent placement. The Walgreens lease, an absolute NNN lease with a corporate guarantee, provides significant security and minimal landlord responsibilities. With a remaining lease term of 6.3 years and 10 five-year renewal options, this investment offers long-term stability. The property features a strong NOI of $289,000, resulting in an attractive 8.89% cap rate. The strong demographics within the 5-mile trade area, including six-figure incomes, further enhance the investment's appeal. The property is zoned RB: Retail Business and has an APN of 01-22528-01-020. This is a rare opportunity to acquire a high-performing, nationally-branded retail property in a prime location within the Minneapolis MSA. The asking price is $3,250,000.

Location Insight

City

Apple Valley

County

Dakota

State

Minnesota

Latitude

44.746

Longitude

-93.176

CBSA code

33460

CBSA name

MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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