2905 Lexington Ave S - Flex FOR SALE


Eagan, MN 55121
$10,050,000 USD
651-315-8138
2905 Lexington Ave S, Eagan, MN for Sale
$10,050,000 USD
Flex - FOR SALE
1/131
null | 6.52% Cap Rate

2905 Lexington Ave S
Eagan, MN 55121


HIGHLIGHTS

  • 2905 Lexington Avenue presents Blue Water I, a premier flex building spanning nearly 50,000 SF with stabilized occupancy/ long-term in-place leases.
  • Strategic location in Eagan’s industrial corridor, 10 minutes from MSP International Airport, and convenient access to major employment centers.
  • Attractive investment opportunity to acquire a strong tenant mix, including a national credit-rated tenant and all NNN, hands-off leases.
  • Appealing income profile with solid NOI and market-aligned rents, with potential for future customization and tenant improvements.
  • Rate permitted outdoor storage, through a recorded conditional use permit, currently leased by the Enterprise Rent-A-Car agency.

OVERVIEW

Walleye Brokerage is pleased to present an exclusive investment opportunity at 2905 Lexington Avenue. Blue Water I consists of 47,837 square feet of rental building area, a fully leased, multi-tenant office building. The property boasts a diverse mix of Caliber Collision, Enterprise Rent-A-Car, and Union Fitness. The property includes 8,388 square feet of office space and 39,449 square feet of warehouse space, with an office ratio of 17.5%. Additionally, the site features 197,748 square feet of fully leased outdoor storage permitted under a conditional use permit. On-site features and amenities include ample natural light, expansive floor-to-ceiling windows, an attractive brick exterior, a dock and drive-in loading, and 130 parking spaces (at a 1.35 ratio). The property is ideally located adjacent to Interstate 35E and 494 in Eagan’s premier business district, with quick access to Downtown Minneapolis and St. Paul, MSP International Airport, the Minnesota Vikings Headquarters, the Mall of America, and so much more. Tenants are just a short drive from Costco, Starbucks, Caribou Coffee, The Home Depot, hotels, and many restaurants. Eagan is south of St. Paul and lies on the south bank of the Minnesota River, upstream from its confluence with the Mississippi River. Eagan and the other nearby suburbs form the southern section of the Minneapolis-St. Paul area. Blue Water I’s 5-mile demographics showcase a growing population with an affluent average household income. The realm is home to approximately 139,104 residents (expected to grow by 0.52% by 2030) with an average household income surpassing $126,600. Inquire today to learn more about the cash-flowing, prominently located passive investment opportunity at Blue Water I.

FOR SALE DETAILS

PRICE

$10,050,000 USD

PRICE/SF

$210 USD /SF

CAP RATE

6.52%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Blue Water I

PROPERTY TYPE

Flex

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1988

UTILITIES

-

CLEAR CEILING HT

22 Ft

DOCKS

-

DRIVE INS

-

PARKING SPACES

130

LAND DETAILS

LAND ACRES

9.32

LAND SF

405,979

ZONING

I-1

APN/PARCEL ID

10-22509-01-010

ASK ABOUT THIS PROPERTY

Morgan KavanaughWalleye Brokerage, LLCMore Info
651-315-8138

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Morgan KavanaughWalleye Brokerage, LLCMore Info
651-315-8138

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.