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33489267
33489250

810 Lilac Drive North, Golden Valley, MN 55422

CP
MN MN 40416618
Sotheby's International Real Estate
Listed by Sotheby's International Real Estate
$2,200,000
2 days on market
Updated 2 days ago

810 Lilac Drive North

Details
Property Type Office, Mixed Use
Sub Type Traditional Office, Executive Office (+1)
Square Footage 17,045
Net Rentable (SqFt) 17,045
Units 10
Cap Rate 10.05%
NOI $221,000
Tenancy Multi
Lease Type Net
Pro-Forma Cap Rate 12.14%
Pro-Forma NOI $267,000
Price per SqFt $129
Class C
Year Built 1998
Year Renovated 2006
Buildings 1
Acreage 0.970
Zoning Office
Parking Spaces 59 spaces
Parking Per SqFt 3.46
Investment Type Value Add
Ground Lease No
Sale Condition For sale by owner

Value-add Creative Office Space in Golden Valley

Marketing description

810 N. Lilac Drive presents a rare opportunity to acquire a well-maintained, multi-tenant office building in the highly desirable Golden Valley submarket. The property is currently substantially leased and generates approximately $221,000 in annual net income, providing investors with immediate in-place cash flow and stability.

The property also offers significant upside potential through the lease-up of the remaining vacant suites. Upon stabilization, ownership projects a potential net income of approximately $266,000 annually, creating a compelling value-add opportunity for investors seeking both current yield and future growth.

Available space includes a highly functional two-story office suite featuring a large open workspace, conference room, private offices, and a full kitchen. This suite is well-suited for a traditional office user or could be repositioned as a tenant amenity center, training facility, collaborative workspace, or owner's headquarters suite to enhance leasing efforts and maximize property value. There is also a potential opportunity for a sale leaseback with the building owner's remodeling company that currently occupies the suite.

Conveniently located near Highway 55, I-394, and Highway 100, the property offers excellent regional access, abundant parking, and proximity to numerous retail, restaurant, and service amenities. This combination of stable in-place income, leasing upside, and strategic location makes 810 N. Lilac Drive an attractive investment opportunity in one of the Twin Cities' most established office markets.

Investment highlights

Stable multi-tenant office investment with approximately $221,000 in current NOI

Opportunity to increase NOI by 20% through lease-up of currently available suites without major capital improvements.

Opportunity to add value through repositioning the remaining vacancy to amenity center with kitchen, conference room, and open flex spaces OR to create large owner-occupied space

Sale leaseback and/or creative financing available.

Listing Contacts

CP
MN MN 40416618
Sotheby's International Real Estate
Listed by Sotheby's International Real Estate

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$221,000.00
$18,416.67/mo

Valuation Metrics

0
DSCR
10.05%
Cap Rate
10.05%
ROI

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Additional Information

Name
Christian Peterson
License
MN 40416618
Brokerage
Lakes Sotheby's International Realty
Brokerage Phone
(952) 230-3100
Brokerage Address
202 Superior Boulevard
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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