Retail•Street Retail•For Sale

Chestnut Street Retail Center

700 N. Chestnut Street, Chaska, Minnesota 55318

Sale Price $4,999,000
Sale Type Investment
Zoning Planned Multi Unit Development
Bldg Type Multi-Tenant
Status Under construction
Year Built 2019
Stories 1
Gross Bldg 10,816 SqFt
RBA 10,816 SqFt
Land Area 1.1 Acres
Market Minneapolis & St. Paul Regional Area
Sub-Market Southwest Minneapolis
Brand New Multi-Tenant Retail Strip Center located in the heart of downtown Chaska, Minnesota; a southwest suburb of Minneapolis. Nationally recognized anchor tenants include Dunkin' and AT&T; as well as established Minnesota-based retailers including The Refinery woman's boutique and Fitness First athletic training center. Located on a high-traffic intersection of County Road 41, the property offers tenants excellent visibility and parking for shoppers/guests. As of the date of this offering summary the property is approx. 70% pre-leased with roughly 3,300 square feet of space is available for lease. NAI projects that a stabilized Net Operating Income will be approximately $300,000, annually. Situated along the shores of the Minnesota River, Chaska offers a historic and well maintained downtown city environment with a city-wide population of 23,770 as of the 2010 census. Chaska is located in the southwest metropolitan area of the Twin Cities just 24 miles from downtown Minneapolis and is included in the Minneapolis and St. Paul Metropolitan Statistical Area. Chaska serves the county seat of Carver County, and the City of Chaska was rated a 2019 TOP 150 BEST PLACES TO WORK by the Star Tribune. Chaska is best known for internationally recognized sporting venues such as the prestigious Hazeltine National Golf Club, site of the 2016 Ryder Cup, 2019 KPMG Women's PGA Championship, the 2024 U.S. Amateur Championship, and the 2028 Ryder Cup; as well as the Chaska Curling Center, which serves as the National Training Center for Team USA Curling.
  • New Construction - Modern Exterior Complete with Monument Signage
  • High Traffic Intersection
  • Notable Anchor Tenants with Local, Regional and National Credit
  • New fifteen (15) year lease with Dunkin Donuts; Five (5) year lease with AT&T
  • Stablized Net Operating Income projected at over $300,000 annually
7/9/2019 4:54:41 PM 7/23/2019 5:43:12 PM

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