Pep Boys - Lakeville, MN

17567 Cedar Avenue, Lakeville, MN

$1,866,240

Price

6.25%

Cap Rate

$116,640

NOI

Overview
Cap Rate
6.25%
NOI
$116,640
Building Size
6,480 sqft
Lot Area
0.86 acres
Tenancy
Single
Year Built
2003
Price Per Sqft
$288
Year Last Renovated
2018
Lease Expire Year
09/30/2028
Description

This Pep Boys Auto is located at the southeast corner of Cedar Avenue and Dodd Boulevard, in Lakeville, Minnesota. Traffic counts average 20,300 vehicles daily on Cedar Avenue and 13,700 on Dodd Boulevard. Pep Boys is adjacent to Firefly Credit Union, and Barley and Vine Kitchen and Bar. It is in the Crossroads of Lakeville which include other retailers Cub Foods, Chuck & Don’s Pet Food Supplies, Caribou Coffee, CherryBerry, Metro Dentalcare, Little Caesars Pizza, Snap Fitness, McDonald’s, and more. Other area properties include CVS Pharmacy, Fresenius, Kwik Trip, and New Horizon Academy. Pep Boys is a half mile from a new master planned housing community on 472 Acres.

Highlights
  • Pep Boys Auto sells brand name and private label auto parts, and provides select services through approximately 1,000 locations in 35 states and Puerto Rico. The tenant on the lease, The Pep Boys - Manny Moe & Jack of California, operate 236 stores.
  • 10 year NN lease, with increases in year 6, and each renewal option.
  • Excellent demographics with 1-mile average household income over $119,000 and 5-mile population of 154,832. Traffic counts average 20,300 vehicles daily on Cedar Avenue and 13,700 on Dodd Boulevard.
  • Located at the Crossroads of Lakeville, a 127,070 square foot upscale shopping development anchored by Cub Foods, with retailers Chuck & Don’s Pet Food Supplies, Caribou Coffee, CherryBerry, Metro Dentalcare, Little Caesars Pizza, Snap Fitness, McDonald’s, and more. Other nearby properties include CVS Pharmacy, Fresenius, Kwik Trip, and New Horizon Academy. North of Dodd Blvd is a new development with plans for a HyVee Mini Store and retail center. Pep Boys is one half mile north from a new master planned housing community on 472 Acres.
  • Lakeville is one of the fastest growing suburbs in the metropolitan area. Pending new home starts for 2018-2019 is 483 lots, with 1,311 new homes developed since 2011. Pep Boys is a half mile north of The Grove at Avonlea, a master planned housing community.
  • Lakeville is a vibrant city that boasts excellent schools, proximity to regional attractions and amenities, and a range of housing options. Lakeville is located 20 miles south of Minneapolis-St. Paul, and 20 minutes from the MSP airport.
Documents
Title
Pep_Boys_Auto_Lakeville__MN_MP_2019_-_R.pdf
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Location
Gallery