6436-6440 Lyndale Ave S
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6436-6440 Lyndale Ave S
9,183 SF Retail Building Richfield, MN 55423 £3,431,043 (£374/SF) 6% Net Initial Yield
Investment Highlights
- 100% Leased
- Located along the Lyndale Avenue corridor with easy access to Highway 62 and I-494
- Guarantor National Veterinary Associates, Inc. is a private-owned, global pet care organization with over 1,400 locations
- Street level building of 9,183 sf including adjacent parking and outdoor pet relief area, leased to established full service vet clinic
- Complete exterior and interior remodel completed in 2022 including a new roof, mechanicals and rooftop solar array.
- *Financials on the tenant and guarantor are not available from the private equity owned www.nva.com.
Executive Summary
Colliers is pleased to exclusively offer for sale a free-standing, single tenant retail building that is NNN leased to NVA Woodlake Management Inc., a Minnesota corporation and guaranteed by National Veterinary Associates, Inc. through January 31,2029 and then limited to an amount of three years of Base Rent thereafter. The property is positioned south of the Highway 62 and Lyndale Avenue South interchange at 6436 Lyndale Avenue South in Richfield, Minnesota.
The building sits in-between the successful Lakewinds Food Co-Op and the City of Richfield municipal liquor store. It is 100% leased to the vet clinic which has been at this location since 2010 and expanded from 2,739 sf to the full building of 9,183 sf of street level retail clinic space in 2023.
The building sits in-between the successful Lakewinds Food Co-Op and the City of Richfield municipal liquor store. It is 100% leased to the vet clinic which has been at this location since 2010 and expanded from 2,739 sf to the full building of 9,183 sf of street level retail clinic space in 2023.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
9,183 SF
Building Class
C
Year Built/Renovated
1979/2022
Price
£3,431,043
Price Per SF
£374
Net Initial Yield
6%
NOI
£205,863
Tenancy
Single
Number of Floors
1
Building FAR
0.35
Lot Size
0.60 AC
Zoning
C2 - Commercial
Parking
44 Spaces (4.79 Spaces per 1,000 SF Leased)
Frontage
134 ft on Lyndale Ave
Walk Score ®
Very Walkable (77)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | £662,735 | |
| Land Assessment | £575,883 | Total Assessment | £1,238,618 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
£575,883
Improvements Assessment
£662,735
Total Assessment
£1,238,618
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6436-6440 Lyndale Ave S
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