4500 Excelsior Blvd - Apartments CONDO FOR SALE


Saint Louis Park, MN 55416- Wolfe Park
$7,400,000 USD
612-396-7723
4500 Excelsior Blvd, Saint Louis Park, MN for Sale
$7,400,000 USD
Apartments CONDO - FOR SALE
1/8
null | 5.3% Cap Rate

4500 Excelsior Blvd
Saint Louis Park, MN 55416
Wolfe Park


HIGHLIGHTS

  • Trader Joe's has operated continuously at this location since January 2005 and recently executed a 5-year lease extension through January 2032
  • Situated in one of the Twin Cities' most supply-constrained retail corridors surrounded by major national retailers (Target, LA Fitness, etc.)
  • Directly beneath and adjacent to Excelsior & Grand Condominiums and multiple multifamily complexes that create a walkable customer base
  • Located a half-mile from Highway 100 (116,000 VPD) and benefiting from the upcoming 2027 METRO Green Line Extension ($2.9 billion project)
  • 3-mile trade area features average household income exceeding $150,000 and per capita income over $50,000, both ~30% above national averages
  • Positioned 15 minutes from downtown Minneapolis, capturing the advantages of major supply chains and market exposure while avoiding downtown pricing

OVERVIEW

Jones Lang LaSalle Americas, Inc. ("JLL"), is pleased to exclusively offer for sale the fee-simple interest in Trader Joe's located at 4500 and 4590 Excelsior Blvd in St. Louis Park, Minnesota. The 13,740 SF building will be leased through January 2032 with four additional 5-year renewal options extending potential occupancy through 2052. Trader Joe's is one of fewer than 640 locations in America and has been continuously operated at this site since January 2005, demonstrating over 20 years of uninterrupted occupancy and strong operational performance. The property sits on a hard corner at the signalized intersection of Excelsior Blvd & Monterey Dr, with 20,250 VPD on Excelsior, and benefits from proximity to Highway 100, which carries 116,000 VPD. The site is strategically positioned within one of the Twin Cities' most retailer-dense corridors, with immediate neighbors including Target, LA Fitness, CVS, Chase Bank, Chipotle, and Starbucks. In the surrounding area, the property is directly beneath the Excelsior & Grand Condominiums and surrounded by multiple multifamily complexes, creating a captive, walkable customer base. Within a 3-mile radius, average household income exceeds $150,000, nearly 30% higher than the national average, and 66% of adults in SLP hold a bachelor's or graduate degree. St. Louis Park has experienced nearly 10% population growth since 2010. Please see OM for more information.

FOR SALE DETAILS

PRICE

$7,400,000 USD

PRICE/SF

$539 USD /SF

CAP RATE

5.3%

# OF UNITS

1

CONDO SIZE

-

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Trader Joe's

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

108,600 SF

STORIES

5

BUILDING CLASS

B

YEAR BUILT

2005

SPRINKLERS

-

PARKING SPACES

230

LAND DETAILS

LAND ACRES

1.14 AC

LAND SF

49,805 SF

ZONING

-

APN/PARCEL ID

06-028-24-43-0191

ASK ABOUT THIS PROPERTY

612-396-7723

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612-396-7723

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