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    Functional Industrial Property with Office Title is generated by Realmo AI

    5201 Lakeland Avenue N, Crystal, MN 55429

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    Claim this Listing
    For Sale
    $825,000

    Commercial - Crystal, MN

    Property size:
    5,000 SF
    Lot size:
    0.46 Acres
    Price / SF:
    $165/SF
    Added:
    Jan 12, 2026
    Days on Market:
    125
    Last Refresh:
    May 17 at 3:06 pm

    Property Features for 5201 Lakeland Avenue N

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Industrial
    Parking features
    Parking Lot, Paved or Surfaced
    Exterior features
    Brick/Stone
    Standard status
    Active
    APN
    0911821210009
    Size
    5,000 SF
    Lot size
    0.46 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    18854

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1963
    Flooring type
    Carpet, Concrete
    Architectural style
    Other

    We can help!

    Listing Contact
    Bonnie H. Nguyen
    Bonnie H. Nguyen

    Listing agent Bonnie H. Nguyen

    Listing office EXP REALTY 4525 White Bear Parkway, White Bear Lake, MN

    Listing date Jan 12, 2026

    MLS# 7007891 Listing URL

    Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 5,000 SF industrial property with two 2,500 SF units, suitable for various business uses.
    • Significant capital improvements including a new roof (2019), new drive‑in doors, new furnaces, and new LED lighting.
    • Oversized drive‑in garage doors and separate service doors in both units for efficient access.
    • One unit features a 23’ x 38’ mezzanine for additional storage or office space.
    • Equipped with 3‑phase power and new air conditioning in one bay.
    • Functional mix of warehouse and office space in both units.

    Overview

    This versatile industrial property offers a total of 5,000 square feet, comprised of two 2,500 square foot units with a functional mix of warehouse and office space. One unit features a 23-foot by 38-foot mezzanine, providing additional usable square footage for storage or office use. Both units are equipped with oversized drive-in garage doors and separate service doors, allowing for efficient access and flexible operations. The building has seen significant capital improvements, including a new roof in 2019, a new front entrance door, two new over-head garage door openers, new drive-in doors, new furnaces in both industrial bays, new LED lighting throughout the industrial space, and a recently updated water heater. Additional features include 3-phase power and new air conditioning in one of the bays. It is ideal for owner-users seeking a well-maintained, well-designed industrial building with adaptable space for a variety of business uses. The property is located in Crystal, Minnesota, in Hennepin County, and sits on a 0.46-acre lot.

    Financial Insights

    Value Estimation Calculated for Warehouse

    Conservative
    $732.9K
    NOI $65,958 @ 9.00% cap · cautious / downside scenario
    Moderate
    $942.3K
    NOI $65,958 @ 7.00% cap · market / base-case scenario
    Aggressive
    $1.32M
    NOI $65,958 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.
         Calculated for Warehouse

    Component $ $/SF
    Gross rent $81.0k $16.20
    − Vacancy −$3.4k −$0.68
    EGI $77.6k $15.52
    − OpEx −$11.6k −$2.33
    NOI $66.0k $13.19
    5,000 SF · lease $16.20/SF/yr · vacancy 4.20% · expense 15.00%

    Alternative Use Scenarios

    Best Use
    Warehouse
    $942.3K
    $824.5K – $1.10M (±1% cap)
    NOI $65,958 @ 7.0% cap · market cap 7.99%
    Second Best
    Office B
    $848.2K
    $742.2K – $989.6K (±1% cap)
    NOI $59,374 @ 7.0% cap · market cap 7.20%
    Theoretical Best
    Office A
    $1.19M
    $1.04M – $1.39M (±1% cap)
    NOI $83,503 @ 7.0% cap · market cap 10.12%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Flex space

    Similar Places Nearby

    • African Foods & Gifts — 117 Willow Bend, Crystal, MN 55428

    Map

    City
    Crystal
    County
    Hennepin
    State
    Minnesota
    Longitude
    -93.34
    Latitude
    45.0645

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    FAQs

    What type of property is this?
    Flex space - 5,000 SF industrial property with warehouse and office space.
    Where is this flex space located?
    The property is located at 5201 Lakeland Avenue N Crystal, MN.
    What is the asking price?
    The asking price for this property is $825,000.
    What are key features of this property?
    This property features: 5,000 SF industrial property with two 2,500 SF units, suitable for various business uses.; Significant capital improvements including a new roof (2019), new drive‑in doors, new furnaces, and new LED lighting.; Oversized drive‑in garage doors and separate service doors in both units for efficient access.
    (612) 532-7445
    We can help!
    Listing Contact
    Bonnie H. Nguyen
    Bonnie H. Nguyen
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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