6890 Shingle Creek PkwyMinneapolis, MN 55430

Property Details for 6890 Shingle Creek Pkwy

Year built

2003

Construction

MIXED

Lot size

3.96 AC

Property size (Sq ft)

38,025 SF

Property type

Industrial properties

APN

35-119-21-22-0054

APU

3511921220054

Description

This exceptional investment opportunity presents a 38,297-square-foot warehouse currently leased to Circle K and Holiday Stationstores under a triple-net (NNN) lease. Located at 6890 Shingle Creek Pkwy, Minneapolis, MN 55430, this property boasts a strong 6.40% cap rate and a substantial net operating income (NOI) of $384,444. Built in 2003 on a 3.86-acre lot, the commissary serves as a vital distribution center for the well-established convenience store brands. The lease commenced March 18, 2004, and has a remaining term of approximately 4.4 years, with three 5-year renewal options, extending the lease to March 31, 2029. The property benefits from its strategic location in Brooklyn Center, a first-ring suburb of Minneapolis, offering excellent access to I-94, a major thoroughfare with an average daily traffic count of 117,713 vehicles. The surrounding area features a dense population of 285,278 within a 5-mile radius, boasting an average household income of $100,380. This investment is further strengthened by Circle K's parent company, Alimentation Couche-Tard, a global leader in convenience retail with an S&P rating of BBB+ and $71.9 billion in revenue, operating over 7,100 locations across the United States. The property's long operational history at this location (20 years) and recent lease renewal underscore its stability and value as a secure, high-yield investment. The asking price is $6,006,940.

• Alternative Use

  Use

  Valuation

  Residential

  $8,002,113

  Hospitality

  $7,329,892

  Educational

  $6,098,384

  Medical

  $6,308,117

  Retail

  $9,486,376

Location Insight

City

Brooklyn Center

County

Hennepin

State

Minnesota

Latitude

45.0795

Longitude

-93.3194

CBSA code

33460

CBSA name

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

Property Tax & Assessments

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