Rasmussen University - Brooklyn Park, MN
5555 & 5565 96th Avenue North, Brooklyn Park, MN, 55443, US
SGD 14,239,000 | 3,706 m²
Asset Description
Jones Lang LaSalle Americas, Inc. (“JLL”), is pleased to exclusively offer for sale the fee-simple interest in Apple Valley Eye Care located at 7789 147th St W in Apple Valley, Minnesota. The single tenant net lease asset is 100% occupied by Apple Valley Eye Care, and the new 5-year lease, signed with AEG Vision, includes contractual 2% annual rent escalations. The 6,720 SF building was constructed in 2004 and sits on 1.26 acres of land.
Apple Valley Eye Care was recently acquired by AEG Vision and was added to AEG Vision's expansive portfolio of optical retail. AEG Vision has over 425+ locations and has added 70-90 locations annually over the past three years. Intent on continued expansion, AEG Vision is quickly becoming a key player in eye care and is continuously adding to their over 2 million customers served and 4,000 doctors in their network.
The property is strategically situated adjacent to Walmart, which drives 2.8 million visits annually and is in the 89th percentile of Walmart stores in the state. Within the immediate trade area, several other traffic drivers such as Target, Aldi, Cub Foods, Fresh Thyme, Sam's Club, Menards, and Home Depot attract consumers to the area. Within a three-mile radius, the average household income is 132,000, 17% higher than the national average. The property also benefits from being located within the Twin Cities metro, just 20 minutes from downtown Minneapolis.
Please see OM for more information.
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Attributes
Asking price
SGD 3,034,000
Cap rate
7%
Building area gross
624 m²
Land area gross
0.51 ha
Occupancy
100%
Remaining lease term
5.3 years
Year built
2004
Media
Investment Highlights
ACQUISITION AND LEASE EXTENSION BY AEG VISION
• AEG Vision recently acquired Apple Valley Eye Care, adding the business to AEG’s expansive optical portfolio of over 425 locations
• AEG signed a 5-year lease extension upon their acquisition of Apple Valley Eye Care, signaling their commitment to the site
WALMART SHADOW-ANCHOR
• The property is located directly adjacent to a Walmart Supercenter, which drives 2.8 million visits annually
• This Walmart store ranks top 15% in the state and in the nation in annual visits compared to other Walmart stores
RAPIDLY EXPANDING OPTICAL COMPANY
• AEG Vision has added 70-90 locations annually over the past three years and are aiming to continue that trend
• With $650 million in revenue in 2023 and over 2,000,000 patients served each year, AEG has quickly become a key player in the vision industry
RETAIL CORRIDOR
• The property is strategically situated within the primary retail corridor of Apple Valley
• Traffic drivers in the immediate area include Target, Cub Foods, Home Depot, Sam’s Club, and Aldi
Contact brokers
Apple Valley Eye Care (0 Properties)
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Last updated
1 Apr 2025
