BKC Estates LLC Acquires Naples Marketplace Retail Center In Blaine For $3.15M
3453 Lake Drive Northeast
$3,150,000
$229/SF
Building Size
13,722 SF
Asset Type
Retail
Closing
Jun 24, 2025
About this deal
AI
The retail asset involved in the transaction is located at 3453 Lake Drive Northeast in Blaine, MN. The property encompasses 2.14 acres and features a total area of 13,722 square feet. The total sale price for the property was $3,150,000, resulting in a price per square foot of $230.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $3,150,000
- Buyer: BKC Estates LLC
- Seller: Naples Holdings LLC
- Broker: Marty Fisher - Premier Commercial Properties
- Square Footage: 13,722
- Price Per Square Foot: $230
- Market: Blaine, MN
- Acres: 2.14
BKC Estates LLC executed the acquisition as part of a 1031 exchange. The deal encompassed not only the retail center but also included a separate purchase of Naples Liquors, which is one of the seven tenants in the fully leased center.
Circle Pines Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.04%
Cash-on-Cash
-1.44%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93