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TRIO @ southbridge

1331 Crossings Blvd Shakopee / Minnesota

Property Details

Price:

Property Type Multifamily

Total Lot Size: 10.04

Year Built: 2018

Number of Units: 100

County: Scott

Description

Michel Commercial is pleased to present TRIO @ southbridge Apartments, a premier 100-home luxury apartment community located in Shakopee, Minnesota. The community features spacious one bedroom, one bedroom plus den, two bedroom and three bedroom apartment homes with Europeanstyle kitchens showcasing custom cabinetry, granite countertops, stainless steel appliances, designer finishes, nine-foot ceilings, oversized balconies, central heating and cooling, and full-size in-home washers and dryers. Residents enjoy an exceptional resort-style amenity package including a heated outdoor swimming pool, poolside fire pit, grilling stations, 24-hour clubhouse, fitness center, yoga studio, entertainment lounge, coworking and conference spaces, complimentary coffee bar, gated dog park, package lockers, heated underground parking, elevators, bike storage, and available storage lockers, creating a best-in-class suburban living experience. TRIO @ southbridge was constructed in 2018 on expansive, beautifully maintained grounds. Currently 95% occupied and achieving average in-place rents of $1,830 per month, TRIO @ southbridge provides stable cash flow. Included in the offering is an adjacent 5.46-acre development parcel with the potential to add approximately 205 additional apartment homes. The parcel also benefits from certain infrastructure improvements that have already been completed, helping support future development and reducing certain upfront site improvement requirements. Because the existing clubhouse and amenities were designed to serve a larger community, new ownership has the opportunity to expand the property while leveraging infrastructure and amenities already in place. Combining luxury apartment homes, an extensive amenity package, a desirable suburban location, and significant future development potential, Trio @ southbridge offers investors durable cash flow today with a clear path to long-term value creation.

Location

TRIO @ southbridge has established itself as one of Shakopee’s premier luxury apartment communities, benefiting from strong occupancy, and a highly desirable suburban location. Situated directly across from the southbridge Crossing Park & Ride and minutes from U.S. Highway 169, Highway 101, major retailers, restaurants, entertainment, and regional employment centers, the property is exceptionally positioned for continued resident demand.

Highlights

Newly Constructed Asset
TRIO @ southbridge offers modern, institutional-quality apartment community featuring contemporary construction, and upscale finishes. The property’s thoughtfully designed one bedroom, one bedroom plus den, two bedroom and three bedroom floor plans appeal to a broad range of renters, while features such as granite countertops, stainless steel appliances, custom cabinetry, nine-foot ceilings, oversized balconies, and full-size in-home laundry.

Resort-Style Amenity Package
The property provides a highly competitive collection of indoor and outdoor amenities designed to support resident retention and premium rents. Community features include a heated outdoor swimming pool, poolside fire pit, grilling stations, 24-hour clubhouse, fitness centers, yoga studio, entertainment lounge, conference room, package lockers, gated dog park, and heated underground parking.

Strategic Location
TRIO is strategically positioned within Shakopee’s established southbridge commercial district, providing residents with immediate access to grocery stores, restaurants, entertainment, and daily services. The property also benefits from convenient access to US Highway 169 and Highway 13, connecting residents to employment centers throughout the southwest metro and the broader Minneapolis–St. Paul region. Nearby attractions, including Canterbury Park, Valleyfair, Mystic Lake Casino, The Wilds Golf Club, and the Minnesota Renaissance Festival, further enhance the location’s appeal.

Additional Development Opportunity
Included in the offering is an adjacent vacant parcel with the potential to accommodate approximately 205 additional apartment homes and amenities comparable to those offered at TRIO, subject to municipal approvals and final development planning. This land provides a future owner with a compelling opportunity to expand the community, increase operating scale, and leverage TRIO’s existing brand, location, and amenity platform. The parcel may also provide optionality for phased development, future sale, or long-term land appreciation.

Improving Supply-and-Demand Outlook
Shakopee recently experienced a period of elevated apartment deliveries, which temporarily increased market vacancy. However, the development pipeline is expected to moderate considerably, allowing the market to absorb recently completed inventory. With positive net absorption forecast and vacancy projected to gradually decline, TRIO is positioned to benefit from improving occupancy, reduced concession pressure, and stronger long-term rent growth as supply conditions normalize.

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TRIO @ southbridge