Pep Boys Auto - Lakeville, MN

 Auto Stores / Posted 4 months ago by Deborah Vannelli, Upland Real Estate Group, Inc. / 119 views

  • Price : $1,944,000
  • Cap Rate : 6.00%
  • Net Operating Income : $116,640
  • Tenant : Pep Boys Auto
  • Lease Type : NN
  • Lease Term Remaining (Years) : 9 years
  • Building Size (SF) : 6,480
  • Land Area (SF) : 37,461
  • Year Built : 2003/2018

This is an excellent opportunity to purchase an investment property for $1,944,000 at 6.00% cap rate, with a new 10 year lease that commenced September of 2018. This lease includes a rent increases in year 6, and each of Two 5-year renewal options.

This Pep Boys Auto is located at the southeast corner of Cedar Avenue and Dodd Boulevard, in Lakeville, Minnesota. Traffic counts average 20,300 vehicles daily on Cedar Avenue and 13,700 on Dodd Boulevard. Pep Boys is adjacent to Firefly Credit Union, and Barley and Vine Kitchen and Bar. Located at the Crossroads of Lakeville, a 127,070 square foot upscale shopping development anchored by Cub Foods, with retailers Chuck & Don’s Pet Food Supplies, Caribou Coffee, CherryBerry, Metro Dentalcare, Little Caesars Pizza, Snap Fitness, McDonald’s, and more. Other nearby properties include CVS Pharmacy, Fresenius, Kwik Trip, and New Horizon Academy. Lakeville is one of the fastest growing suburbs in the metropolitan area. Pending new home starts for 2018-2019 is 483 lots, with 1,311 new homes developed since 2011. Pep Boys is a half mile north of The Grove at Avonlea, a master planned housing community. Lakeville is a vibrant city that boasts excellent schools, proximity to regional attractions and amenities, and a range of housing options. Lakeville is located 20 miles south of Minneapolis-St. Paul, and 20 minutes from the MSP airport.

Deborah K. Vannelli, CCIM | 612.376.4475 | deb@upland.com
Keith A. Sturm, CCIM | 612.376.4488 | keith@upland.com
Amanda C. Leathers | 612.436.0045 | amanda@upland.com

17567 Cedar AvenueLakeville,Minnesota,United States,55044

Deborah Vannelli
Upland Real Estate Group, Inc.

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www.nnnsales.com