Industrial Manufacturing and
1 Premier Drive Long Lake, MN 55356
For Sale
$3,200,000
Industrial facility offering office space, manufacturing/tech areas, and a fully heated, air-conditioned warehouse with drive-in loading.
Property Size26,820 SF
Lot Size1.39 Acres
Price / SF$119.31
Days on Market246
Property Features for 1 Premier Drive
General Information
- Standard status
- Active
- Size
- 26,820 SF
- Lot size
- 1.39 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1984
Listing Agency:
Keller Williams Premier Realty Lake Minnetonka
(651) 492-2201
Listed By:
Royce Durhman
(651) 492-2201
Source:
Juverealestate
Added: Nov 20, 2025
Changed: Jul 22
Last Checked: Jul 23 at 7:00AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Premier Realty Lake Minnetonka
Investment Insights
Based on property information with market context.
This industrial property includes 8,738 SF of office space and 14,083 SF of manufacturing/tech area, along with 3,999 SF of warehouse space. The warehouse area features clear height of 20 feet and is fully heated and air-conditioned. Manufacturing/tech areas offer 12-foot clear height. The building was originally constructed in 1984 with a 1996 addition.
The site totals 1.39 acres and includes 77 off-street parking stalls. Loading is provided by four drive-in doors, and the facility is supplied with heavy 3-phase power. Fire suppression is wet and fully sprinkled.
Recent improvements include a new rubber membrane roof installed in 2019 and nine new rooftop HVAC units in 2019. Zoning is I-1 Industrial.
The site totals 1.39 acres and includes 77 off-street parking stalls. Loading is provided by four drive-in doors, and the facility is supplied with heavy 3-phase power. Fire suppression is wet and fully sprinkled.
Recent improvements include a new rubber membrane roof installed in 2019 and nine new rooftop HVAC units in 2019. Zoning is I-1 Industrial.
Key Highlights
- Industrial building with 8,738 SF office, 14,083 SF manufacturing/tech, and 3,999 SF warehouse; 5,886 SF office available
- 1.39‑acre site with I‑1 industrial zoning and 77 off‑street parking stalls
- Clear height: 12 ft in manufacturing/tech areas and 20 ft in the warehouse
Financial Insights For Industrial
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $434.5k | $16.20 |
| − Vacancy | −$18.2k | −$0.68 |
| EGI | $416.2k | $15.52 |
| − OpEx | −$124.9k | −$4.66 |
| NOI | $291.4k | $10.86 |
26,820 SF · lease $16.20/SF/yr · vacancy 4.20% · expense 30.00%
Alternative Uses
Best Use
Warehouse
$5.05M
$4.42M – $5.90M
NOI $353,800 @ 7.0% cap · market cap 11.06%
Second Best
Office B
$4.55M
$3.98M – $5.31M
NOI $318,484 @ 7.0% cap · market cap 9.95%
Theoretical Best
Office A
$6.40M
$5.60M – $7.47M
NOI $447,909 @ 7.0% cap · market cap 14.00%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Flex space
Similar Off Market Nearby
- Dining On Hold — 1865 Wayzata Blvd, Long Lake, MN 55356
FAQs
What type of property is this?
Flex space - Industrial facility offering office space, manufacturing/tech areas, and a fully heated, air-conditioned warehouse with drive-in loading.
Where is this flex space located?
The property is located at 1 Premier Drive Long Lake, MN.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: Industrial building with 8,738 SF office, 14,083 SF manufacturing/tech, and 3,999 SF warehouse; 5,886 SF office available; 1.39‑acre site with I‑1 industrial zoning and 77 off‑street parking stalls; Clear height: 12 ft in manufacturing/tech areas and 20 ft in the warehouse
