Investment Overview

Offered for sale for the fist time in more than 10 years, Marcus & Millichap, as exclusive listing agent, is pleased to present Shoreline Drive. A boutique mixed-use asset located in the highly coveted Navarre neighborhood of Orono, Minnesota. Positioned just west of Lafayette Bay in Lake Minnetonka, the property benefits from one of the Twin Cities highest income areas and desirable A+ locations. Situated on almost one acre, the building is comprised of five apartment units and five store front retail units. Built in 1952, the community has been well maintained offering residential tenants four two-bedroom units and one one and a half-bedroom unit. The retail portion contains three spaces along Shoreline Drive, a well trafficked corridor with great visibility, with an additional two retail spaces in the back facing lake Minnetonka. Retail in this building ranges from 900 square feet to 1,706 square feet. Shore line Drive benefits from it’s position near the major intersection of Shadywood Rd and Shoreline Drive centrally located in the Lake Minnetonka area, the premier big lake area of Minnesota. For investors, Shoreline Drive presents a compelling opportunity to buy a rare asset with strong long-term fundamentals. This trophy asset is positioned for sustained rent growth, enhanced tenant demand, and durable value appreciation. Enhancements to unit interiors and common areas, including hallways, lobbies and landscaping, as well as the addition of other amenities, could further elevate the property’s profile and enhance the tenant experience.