Grove Plaza Shopping Center | Grocery Shadow Anchored — Sale in Cottage Grove, MN
- Price: Contact for price
- Listing type: For sale
- Asset type: Retail Business
- Location: Cottage Grove, MN 55016
- Year built: 2002
Photos
Investment Figures
- Cap rate
- 7.78%
Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.
Description
Marcus & Millichap is pleased to present Grove Plaza Shopping Center located in Minneapolis, MN. This is a unique opportunity to obtain a well-located, high performing retail asset situated in the core retail corridor of Cottage Grove, Minnesota, a growing suburb within the Minneapolis–St. Paul metropolitan area. The property benefits from immediate adjacency to a top-performing Hy-Vee grocery store, one of the dominant and most successful grocery operators in the Upper Midwest. This strong grocery anchor drives consistent daily traffic and positions Grove Plaza as a primary neighborhood retail destination, supporting durable tenant performance and long-term relevance within the trade area. The center features a highly stabilized tenant lineup, with more than 90% of occupants comprised of national and regional retailers, providing investors with reliable cash flow and reduced rollover risk. In addition to its current stability, Grove Plaza offers meaningful future upside through an included outparcel development opportunity, allowing for potential value enhancement and income growth. Placer.ai data indicates strong and consistent foot traffic across multiple tenants, including the adjacent Hy-Vee, further validating the strength of the location. The surrounding demographics are exceptional, with over 101,000 residents within a five-mile radius and average household incomes exceeding $132,000—underscoring the property’s position within an affluent, high demand retail market. Investment Highlights: • Shadow Anchored by #9 Ranked Hy-Vee Grocery Store in Minnesota per Placer.ai • Strong Foot Traffic With Approximately 1.5 Million Visits in Trailing 12 Months • More Than 90 Percent of Tenant Roster Comprised of National Tenants • Starbucks Two-Tenant Strip Center Included • Potential to Build Future 5,300 Square Foot Building on Outparcel
Market Context
This retail in Cottage Grove, MN is listed for sale. It is offered at an approximate 7.8% capitalization rate, a key benchmark for income-producing retail assets. The building dates to 2002. Compare it against other retail listings for sale in Cottage Grove, MN — view the full market.
Contact
- Tom Gommels · (952) 852-9734 · thomas.gommels@marcusmillichap.com
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