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4500 Excelsior Blvd - Trader Joe's 13,740 SF Retail Condo Unit Offered at $10,193,500 CAD in St Louis Park, MN 55416
Investment Highlights
- Trader Joe's has operated continuously at this location since January 2005 and recently executed a 5-year lease extension through January 2032
- Directly beneath and adjacent to Excelsior & Grand Condominiums and multiple multifamily complexes that create a walkable customer base
- 3-mile trade area features average household income exceeding $150,000 and per capita income over $50,000, both ~30% above national averages
- Situated in one of the Twin Cities' most supply-constrained retail corridors surrounded by major national retailers (Target, LA Fitness, etc.)
- Located a half-mile from Highway 100 (116,000 VPD) and benefiting from the upcoming 2027 METRO Green Line Extension ($2.9 billion project)
- Positioned 15 minutes from downtown Minneapolis, capturing the advantages of major supply chains and market exposure while avoiding downtown pricing
Data Room Click Here to Access
- Offering Memorandum
1 Unit Available
Unit C1 & C2
| Unit Size | 13,740 SF | Cap Rate | 5.30% |
| Price | $10,193,500 CAD | NOI | $540,143.94 CAD |
| Price Per SF | $741.89 CAD | No. Parking Spaces | 57 |
| Condo Use | Retail | APN/Parcel ID | 06-028-24-43-0191, 06-028-24-43-0192 |
| Sale Type | Investment |
| Unit Size | 13,740 SF |
| Price | $10,193,500 CAD |
| Price Per SF | $741.89 CAD |
| Condo Use | Retail |
| Sale Type | Investment |
| Cap Rate | 5.30% |
| NOI | $540,143.94 CAD |
| No. Parking Spaces | 57 |
| APN/Parcel ID | 06-028-24-43-0191, 06-028-24-43-0192 |
Sale Notes
Jones Lang LaSalle Americas, Inc. ("JLL"), is pleased to exclusively offer for sale the fee-simple interest in Trader Joe's located at 4500 and 4590 Excelsior Blvd in St. Louis Park, Minnesota. The 13,740 SF building will be leased through January 2032 with four additional 5-year renewal options extending potential occupancy through 2052.
Trader Joe's is one of fewer than 640 locations in America and has been continuously operated at this site since January 2005, demonstrating over 20 years of uninterrupted occupancy and strong operational performance. The property sits on a hard corner at the signalized intersection of Excelsior Blvd & Monterey Dr, with 20,250 VPD on Excelsior, and benefits from proximity to Highway 100, which carries 116,000 VPD. The site is strategically positioned within one of the Twin Cities' most retailer-dense corridors, with immediate neighbors including Target, LA Fitness, CVS, Chase Bank, Chipotle, and Starbucks.
In the surrounding area, the property is directly beneath the Excelsior & Grand Condominiums and surrounded by multiple multifamily complexes, creating a captive, walkable customer base. Within a 3-mile radius, average household income exceeds $150,000, nearly 30% higher than the national average, and 66% of adults in SLP hold a bachelor's or graduate degree. St. Louis Park has experienced nearly 10% population growth since 2010.
Please see OM for more information.
Property Facts
| Total Building Size | 108,600 SF | Typical Floor Size | 70,145 SF |
| Property Type | Multifamily (Condo) | Year Built | 2005 |
| Property Subtype | Apartment | Lot Size | 1.14 AC |
| Building Class | B | Parking Ratio | 0.66/1,000 SF |
| Floors | 5 |
| Total Building Size | 108,600 SF |
| Property Type | Multifamily (Condo) |
| Property Subtype | Apartment |
| Building Class | B |
| Floors | 5 |
| Typical Floor Size | 70,145 SF |
| Year Built | 2005 |
| Lot Size | 1.14 AC |
| Parking Ratio | 0.66/1,000 SF |
Amenities
Site Amenities
- Courtyard
- Fitness Center
- Breakfast/Coffee Concierge
- Gameroom
- Grill
- Guest Apartment
- On-Site Retail
- Package Service
- Wi-Fi
- Elevator
- Multi Use Room
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 35 | - | 554 - 784 |
| 1+1 | 21 | - | 644 - 1,100 |
| 2+1 | 30 | - | 995 - 1,300 |
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4500 Excelsior Blvd - Trader Joe's
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