Lakeville, Minnesota, offers a unique opportunity for investors to capitalize on the growing demand for commercial real estate. With its strategic location approximately 20 miles south of downtown Minneapolis and downtown St. Paul, Lakeville provides easy access to major transportation hubs, including Interstate 35 and Cedar Avenue/MN 77. Commercial real estate in Lakeville represents a diverse range of investments, from office buildings and retail spaces to industrial properties and warehouses. Investors can choose from a variety of properties, each with its own unique characteristics and potential for growth. Lakeville's strong economy, diverse industries, and high-quality infrastructure make it an attractive location for businesses and investors alike. The city's amenities, such as Ritter Farm Park and Antlers Park, also provide a high quality of life for residents and employees. With a population of around 70,000, Lakeville offers a stable and growing market for commercial real estate investments. The city is home to notable companies like Post Consumer Brands and Hitchcock Industries, and its airport, Airlake Airport, serves as a major transportation hub.
Lakeville's commercial real estate market is characterized by a range of properties, including 18 listings currently available for sale. The average price per square foot for commercial properties in Lakeville is $245 USD, with an average size of 25,338 square feet. The largest property available is 204,000 square feet. In addition to commercial real estate, Lakeville also offers a range of other property types, including industrial properties, which are often located in the Airlake Industrial Park; apartment buildings, which are popular among residents; office properties, which are home to many businesses; and hotels, which cater to visitors and travelers. Each of these property types offers its own unique investment opportunities and characteristics. Overall, Lakeville's commercial real estate market provides a diverse range of investment options, with something to suit every investor's needs and goals.
What financing options are available for purchasing commercial real estate?
When it comes to financing options for purchasing commercial real estate in Lakeville, Minnesota, there are several avenues to explore, including:
- Traditional bank financing, which typically requires a 20-30% down payment and offers fixed or variable interest rates;
- Small Business Administration (SBA) loans, which provide more favorable terms, such as lower down payments and longer repayment periods, for qualified small businesses;
- Private money lending, which offers more flexible terms and faster approval processes, but often at higher interest rates.
How do cap rates factor into commercial real estate purchases?
When considering commercial real estate purchases in Lakeville, Minnesota, cap rates play a crucial role in determining the potential return on investment. With an average cap rate of 5.18%, investors can gauge the property's potential income-generating capabilities, making it essential to understand what is a cap rate and how it affects their investment decisions - for more information, check out our article on what is a cap rate.
In Lakeville, where there are 18 available listings of commercial real estate, investors can explore opportunities in various sectors, including agriculture, industrial parks, and aviation, with major employers like Post Consumer Brands and Hitchcock Industries. By factoring in cap rates, investors can make informed decisions about their commercial real estate purchases, taking into account the property's potential income, expenses, and overall value.
What is considered a commercial property?
In Lakeville, Minnesota, a commercial property is typically defined as a building or land used for business or commercial activities, such as office spaces, retail stores, restaurants, warehouses, and industrial facilities. With 18 available listings of commercial real estate in Lakeville, investors and business owners have a range of options to choose from, with average prices per square foot of $245 USD and average sizes of 25,338 square feet, and cap rates averaging 5.18%.
