701 Wayzata DST
$28,429,293
701 Lake St E, Wayzata, MN 55391
44,320 sqft
Building Size
0.48 acres
Lot Area
Details:
Highlights:
- Premier Retail/Office DST Investment in Wayzata, MN
- NOI: $1,600,000
- 100% Occupancy
- Building Size: ± 44,320 SF
- Built in 2003
- 10 Tenants
- Flexible layout for multiple tenant configurations
Description:
NAI Legacy is pleased to present a diversified portfolio opportunity in the western Twin Cities submarkets of Wayzata and Plymouth, Minnesota. Totaling $46.6M in offering price ($26.6M available equity) across ± 73,707 SF and ± 8.42 acres, the 100%-occupied portfolio generates $2.6M+ in net operating income with a 7.7+ year WALT across net-leased retail, office, and medical assets. Assets include a high-performing Walgreens on Wayzata Boulevard with over $3M in annual sales; a fully leased ± 44,320 SF mixed-use property at 701 East Lake Street on Lake Minnetonka; and Plymouth Medical Center, a ± 14,238 SF facility with a 15-year master lease, anchored by Northwest Family Clinics and Bay Creek Dental, offering potential bonus depreciation.
The West Metro and Lake Minnetonka submarkets stand out as premier corridors within the Twin Cities metro, supported by robust regional wealth, strong daytime employment bases, and resilient underlying fundamentals. Both Wayzata and Plymouth offer distinct profiles that consistently attract long-term residents, corporate offices, and high-value industries across retail, office, and essential services.
Wayzata functions as an affluent economic hub for Hennepin County, backed by exceptionally strong household earnings—where median household income stands at $131,614 and married family median income reaches $240,852—and a highly educated population where over 72% hold a bachelor's degree or higher. The commercial core around Wayzata Boulevard benefits from significant economic density, generating over $1.026 billion in annual business sales volume. With a daytime population swell to 7,222 within a one-mile radius of Wayzata Boulevard plus an employee-to-resident ratio of 147 workers per 100 residents, the area maintains constant foot traffic that supports luxury retail, financial services, corporate offices, and long-term retail operations.
Location
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