1055 Wayzata BlvdWayzata, MN 55391

Property Details for 1055 Wayzata Blvd

Year built

2014

Construction

CONCRETE BLOCKS

Lot size

1.38 AC

Property type

Commercial real estate

APN

06-117-22-14-0081

APU

611722140081

Description

This exceptional investment opportunity presents a 15,149-square-foot Walgreens located at 1055 Wayzata Blvd, Wayzata, MN 55391. Situated on a 1.38-acre corner lot at a signalized intersection with high traffic counts (15,200+ VPD on Central Ave North & 21,400+ VPD on Wayzata Blvd), this property enjoys exceptional visibility and accessibility. The building, constructed in 2015, is currently operating at 100% occupancy under an absolute NNN lease with Walgreens, a credit-worthy tenant. The lease commenced April 1, 2015, and has a remaining term of approximately 10.4 years, expiring March 31, 2035, with eleven 5-year renewal options. The property generates a strong net operating income (NOI) of $615,300, resulting in a 6.15% cap rate. The asking price is $10,000,000. This high-performing store reported $3.9 million in sales last year, reflecting its strong performance and the affluent nature of the Wayzata community near Lake Minnetonka. The property's location in this desirable area, combined with the long-term lease and strong financial performance, makes it an attractive investment opportunity with minimal landlord responsibilities. This is a single-tenant, retail property with a strong corporate guarantee.

• Alternative Use

  Use

  Valuation

  Residential

  $12,650,388

  Hospitality

  $11,587,688

  Educational

  $9,640,820

  Medical

  $9,972,383

  Retail

  $14,996,831

Location Insight

City

Wayzata

County

Hennepin

State

Minnesota

Latitude

44.9715

Longitude

-93.5028

CBSA code

33460

CBSA name

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

Property Tax & Assessments

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