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14000 STATE HWY 13 Savage MN 55378

[Locked]

Details
Property Type Retail
Building SqFt 12,062
Year Built 2016
Lease Type ******
Days on Market ******
Latitude 44.7496
Longitude -93.3804

Property History

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Property Type
Property Type
Retail
Marketing Description
This is an excellent opportunity to purchase a two fully lease retail centers for $6,450,600 at 6.00% cap rate. Tenants include Noodles & Company, Verizon Wireless, Pacific Dental, Tim Hortons, and Club Pilates.


Ridgecrest Marketplace is located at the northwest corner of Minnesota Highway 13 and Eagan Drive in Savage, Minnesota. Traffic counts in front of the property on Highway 13 average 20,900 vehicles daily. On Eagan Drive traffic counts average 26,500 vehicles daily. This property is located at four corners of retail development. Ridgecrest is adjacent to Taco Bell, and KinderCare Center, other nearby properties include Fresh Thyme, Marshall’s, Famous Footwear, Subway, Cole’s Salon, Leeann Chin, Papa John’s Pizza, Walgreens, Arby’s, and more. Other area properties include Target, HyVee, Cub Foods, ALDI, Starbucks, Caribou Coffee, Goodwill, Lifetime Fitness and many more.


Savage is a suburban city 15 miles south-southwest of downtown Minneapolis in Scott County in the State of Minnesota. The city is situated on the south bank of the Minnesota River in a region commonly referred to as South of the River, comprising the southern portion of Minneapolis-St. Paul, the sixteenth largest metropolitan area in the United States. Minnesota State Highway 13 and County Road 42 are two of the main routes in Savage. Interstate 35W and U.S. Highway 169 are in close proximity to the city. Savage has grown into a developing bedroom community, absorbing population growth from Burnsville, its larger neighbor to the east. Once a shipbuilding port for the U.S. Navy, Savage is now an industrial manufacturing job center in the southern metro. The city is still relatively undeveloped, with sections of the Minnesota Valley National Wildlife Refuge and Murphy-Hanrehan Park Reserve within its borders. Savage was named among the Best Places to Live in America by Money Magazine in 2013 and 2011; and among the Best Affordable Suburbs in the nation by BusinessWeek in 2010.



Investment Highlights
  • Two fully leased retail centers with tenants: Noodles & Company, Verizon Wireless, Tim Hortons, Club Pilates, and Pacific Dental.
  • Strong demographics with 1-mile average household income exceeding $135,000, and 5-mile population over 114,000.
  • Traffic counts in front of the property on Highway 13 average 20,900 vehicles daily. On Eagan Drive traffic counts average 26,500 vehicles daily.
  • Nearby retailers include Fresh Thyme, Walgreens, Arby’s, Target, HyVee, Cub Foods, ALDI, Starbucks, Caribou Coffee, Lifetime Fitness and many more.
  • Savage is a suburban city 15 miles south-southwest of downtown Minneapolis, Minnesota.
  • Savage was named among the Best Places to Live in America by Money Magazine in 2013 and 2011; and among the Best Affordable Suburbs in the nation by BusinessWeek in 2010.

Loan History

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Financial History

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Tax History

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Contact Information

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Ownership Information

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Property Details

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There are no additional details for this property

Contacts

Listing removed on
 BY:
KS
Keith Sturm PRO
•••.•••.6600
•eith@••••••.com
Brokerage logo
Listing removed on
 BY:
DV
Deborah Vannelli PRO
•••.•••.4475
deb@••••••.com
Brokerage logo
Listing removed on
 BY:
AL
Amanda Leathers PRO
•••.•••.0045
••anda@••••••.com
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