7789 147th St W - Medical FOR SALE


Apple Valley, MN 55124
$2,254,000 USD
612-396-7723
7789 147th St W, Apple Valley, MN for Sale
$2,254,000 USD
Medical - FOR SALE
1/5
null | 7% Cap Rate

7789 147th St W
Apple Valley, MN 55124


HIGHLIGHTS

  • AEG Vision recently acquired Apple Valley Eye Care, adding the business to AEG’s expansive optical portfolio of over 425 locations
  • AEG signed a 5-year lease extension upon their acquisition of Apple Valley Eye Care, signaling their commitment to the site
  • The property is located directly adjacent to a Walmart Supercenter, which drives 2.8 million visits annually
  • Within a 3-mile radius, the average household income is $132,000, 17% higher than the national average
  • The site is located in the Minneapolis-Saint Paul metro less than 20 minutes south of downtown Minneapolis

OVERVIEW

Jones Lang LaSalle Americas, Inc. (“JLL”), is pleased to exclusively offer for sale the fee-simple interest in Apple Valley Eye Care located at 7789 147th St W in Apple Valley, Minnesota. The single tenant net lease asset is 100% occupied by Apple Valley Eye Care, and the new 5-year lease, signed with AEG Vision, includes contractual 2% annual rent escalations. The 6,720 SF building was constructed in 2004 and sits on 1.26 acres of land. Apple Valley Eye Care was recently acquired by AEG Vision and was added to AEG Vision's expansive portfolio of optical retail. AEG Vision has over 425+ locations and has added 70-90 locations annually over the past three years. Intent on continued expansion, AEG Vision is quickly becoming a key player in eye care and is continuously adding to their over 2 million customers served and 4,000 doctors in their network. The property is strategically situated adjacent to Walmart, which drives 2.8 million visits annually and is in the 89th percentile of Walmart stores in the state. Within the immediate trade area, several other traffic drivers such as Target, Aldi, Cub Foods, Fresh Thyme, Sam's Club, Menards, and Home Depot attract consumers to the area. Within a three-mile radius, the average household income is 132,000, 17% higher than the national average. The property also benefits from being located within the Twin Cities metro, just 20 minutes from downtown Minneapolis. Please see OM for more information.

FOR SALE DETAILS

PRICE

$2,254,000 USD

PRICE/SF

$335 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Apple Valley Eye Care (AEG Vision)

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

2004

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.26 AC

LAND SF

54,886 SF

ZONING

-

APN/PARCEL ID

01-14500-01-010

ASK ABOUT THIS PROPERTY

612-396-7723

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612-396-7723

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