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This exceptional investment opportunity presents a fee-simple interest in a 30,499 square foot, single-tenant retail property leased to Sky Zone Trampoline Park. Located in Blaine, Minnesota, this property boasts a prime location as an outparcel to the Northtown Mall, a premier shopping destination in the Minneapolis-St. Paul metropolitan area. The property benefits from high visibility at the signalized intersection of Highway 47 (31,500 vehicles per day) and 85th Ave NW (15,600 vehicles per day). The lease is a gross lease with a corporate guarantee, providing significant security. The current lease term extends to March 31, 2028, with 3.4 years remaining, and includes two five-year renewal options. A 4.66% rent increase is scheduled for April 1, 2026. The property features a newer roof (2019 TPO replacement) and enjoys excellent access to major highways, including Highway 65, Highway 47, and US-10. The surrounding area demonstrates strong demographics, with a population exceeding 225,000 and over 83,000 households within a five-mile radius, boasting an average household income of $106,000. The property's location within a bustling retail corridor, anchored by national retailers such as Walmart, Target, and Sam's Club, further enhances its value. The asking price is $3,890,000, representing a cap rate of 8.50% and a price per square foot of $127.55. The Net Operating Income (NOI) is $330,668. The property sits on a two-acre lot and consists of one building. This is a rare opportunity to acquire a high-performing, well-located retail asset with a strong tenant and significant upside potential.
Highlights
High-visibility outparcel to Northtown Mall in Blaine, MN, at a signalized intersection of Hwy 47 and 85th Ave NW.
2019 TPO roof replacement.
Excellent highway access via Hwy 65, Hwy 47, and US-10.
Densely populated and affluent trade area within 5 miles.
Strong retail performance at Northtown Mall and its anchor tenants.
Surrounded by a robust retail corridor with numerous national brands.
Property Details
for 198 Northtown Dr
Property type
Lifestyle centers, Power centers
Square Feet
30,499 SF
Year Renovated
2019
Buildings
1
Lot Size (sq. ft)
87,120 SF
Location Insight
City
Blaine
County
Anoka
State
Minnesota
Latitude
45.1289048
Longitude
-93.2607986
198 Northtown Dr, Blaine, Minnesota
Nearby Similar for Sale
For SaleCall for price
Northtown Mall Retail Spaces
Prime Blaine, MN Shopping Center Pads & Junior Boxes
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The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
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