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SRRT Shakopee, LLC Acquires Shakopee Retail Property For $4.4M

Property Image
SOLD
$4,400,000
Cory Villaume
Matt Hazelton

Minnesota

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Retail20,600 SF
Sold 02/06/2024
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SOLD

SRRT Shakopee, LLC Acquires Shakopee Retail Property For $4.4M

4450 12th Avenue East

See Similar Deals
Retail20,600 SF
Sold 02/06/2024
Cory Villaume
Matt Hazelton
the dealplayerscompscontact
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Summary

MINNESOTA
Asset Type:Retail
Price Per Square Foot:$213
Total Square Footage:20,600 SF
Transaction Type:Sale

The Goodwill store located at 4450 12th Avenue East in Shakopee, MN, spanning 2.54 acres, was recently sold in a cash transaction for $4.4 million. The sale price reflects a rate of $214 per square foot. The transaction was facilitated by brokers Cory Villaume and Matt Hazelton of JLL, representing the seller MDSC2015, LLC, with the buyer being SRRT Shakopee, LLC.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $4,400,000
  • SF: 20,600
  • Address: 4450 12th Avenue East, Shakopee, MN
  • Market: Shakopee, MN
  • Buyer: SRRT Shakopee, LLC
  • Seller: MDSC2015, LLC
  • Brokers: Cory Villaume & Matt Hazelton - JLL

Notably, the Goodwill store sale in Shakopee, MN, amounting to $4.4 million, was a cash transaction acquired by SR Realty Trust in Minneapolis. Cory Villaume and Matt Hazelton of JLL expertly represented the seller in this transaction.

Players

Cory Villaume
JLL
Cory Villaume
3 deals$33M volume(612) 217-6700
BROKER
Matt Hazelton
JLL
Matt Hazelton
8 deals$287.2M volume(612) 396-7723
BROKER

Details

SOLD
IMAGE: Cory Villaume & Matt Hazelton DATE: 02/06/2024 ADDRESS: 4450 12th Avenue East MARKET: Shakopee, MN ASSET TYPE: Retail ~ ACRES: 2.54 BUYER: SRRT Shakopee, LLC SELLER: MDSC2015, LLC BROKERS: Cory Villaume & Matt Hazelton - JLL SALE PRICE: $4,400,000 SF: 20,600 ~ PPSF: $214 NOTE: Shakopee's Goodwill store has been sold for $4.4 million in a cash transaction to SR Realty Trust in Minneapolis, with brokers Cory Villaume and Matt Hazelton of JLL representing the seller.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$234,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$15,632.26
Cash-on-Cash Return-1.27%
Monthly Debt Service$20,858.24
Annual Debt Service$250,298.94