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Lake Marion Storage
22595 Pillsbury Ave, Lakeville, Minnesota 55044
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Property Info
Price: $15,000,000
Units: 587
Year Built: 1999-2024
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Download Marketing Package
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Broker Contact Info
Brian Kelly
614.360.9030
Brian.Kelly@marcusmillichap.com
Opportunity
The Market
Investment
Map
Minneapolis-St. Paul MSA Self Storage Facility
POPULATION
In 2024, the population in your selected geography is 40,235. The population has changed by 30.82 percent since 2010. It is estimated that the population in your area will be 42,626 five years from now, which represents a change of 5.9 percent from the current year. The current population is 49.4 percent male and 50.6 percent female. The median age of the population in your area is 38.0, compared with the U.S. average, which is 39.0. The population density in your area is 511 people per square mile.
HOUSEHOLDS
There are currently 14,253 households in your selected geography. The number of households has changed by 36.16 percent since 2010. It is estimated that the number of households in your area will be 15,140 five years from now, which represents a change of 6.2 percent from the current year. The average household size in your area is 2.8 people.
INCOME
In 2024, the median household income for your selected geography is $140,674, compared with the U.S. average, which is currently $76,141. The median household income for your area has changed by 57.50 percent since 2010. It is estimated that the median household income in your area will be $164,008 five years from now, which represents a change of 16.6 percent from the current year.
The current year per capita income in your area is $57,456, compared with the U.S. average, which is $40,471. The current year’s average household income in your area is $164,729, compared with the U.S. average, which is $101,307.
EMPLOYMENT
In 2024, 22,124 people in your selected area were employed. The 2010 Census revealed that 71 percent of employees are in white-collar occupations in this geography, and 16.2 percent are in blue-collar occupations. In 2024, unemployment in this area was 2.0 percent. In 2010, the average time traveled to work was 29.00 minutes.
HOUSING
The median housing value in your area was $464,406 in 2024, compared with the U.S. median of $321,016. In 2010, there were 8,883.00 owner-occupied housing units and 1,582.00 renter-occupied housing units in your area.
EDUCATION
The selected area in 2024 had a lower level of educational attainment when compared with the U.S averages. 49.5 percent of the selected area’s residents had earned a graduate degree compared with the national average of only 13.5 percent, and 13.5 percent completed a bachelor’s degree, compared with the national average of 21.1 percent.
The number of area residents with an associate degree was higher than the nation’s at 11.1 percent vs. 8.8 percent, respectively.
The area had fewer high-school graduates, 0.7 percent vs. 26.2 percent for the nation, but the percentage of residents who completed some college is higher than the average for the nation, at 22.4 percent in the selected area compared with the 19.7 percent in the U.S.
• Minneapolis-St. Paul MSA Self Storage Facility
• Located in the Affluent Suburb of Lakeville
• 106,784 Net Rentable Square Feet
• 518 Climate Controlled Units, 66 Non-Climate Controlled Units, Three Office Spaces, and 38 Outdoor Parking Spaces
• Recently Added and Fully Leased 28 Units Totaling 24,000 NRSF in December 2024
• Affluent Market: Average Household Income Within One, Three, and Five Miles is Well Above the National Average
• Average HHI: 1-Mile: $190,127 | 3-Miles: $168,076 | 5-Miles: $164,729
• Growing Surrounding Population: Over 30% Increase Within a Five-Mile Radius Since 2010 and is Expected to Continue Growing
• Great Location & Street Frontage
• Conveniently Located South of County Road 70 (210th Street) and I-35W