Flex Space with
New
For Sale
$399,900
101 E Iron Drive, Chisholm, MN 55719
A separate office component complements the warehouse area for administrative and operational use.
Property Size6,360 SF
Price / SF$62.88
Days on Market6
Property Features for 101 E Iron Drive
General Information
Standard status
Active
Size
6,360 SF
Property subtype
Commercial
Zoning
Business/Commercial
Warehouse & Industrial
Warehouse Space
4,370 SF
Office Build-Out
1,680 SF
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$3,950
Building Details
Building Size
6,360 SF
Year Built
1983
Units
2
Listing Agency:
Mirabella Realty
Listed By:
Trenton Carda
(218) 403-1903
Source:
Getyoumoved
Added: Oct 19
Changed: Oct 23
Last Checked: Oct 23 at 2:24PM
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 Mirabella Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This flex property combines approximately 1,680 square feet of office space with 4370 square feet of warehouse space. The building was constructed in 1983 and has Business/Commercial zoning. A parking lot serves the property alongside its office and warehouse areas.
The property is in Chisholm’s industrial park beside Highway 169, within the Iron Range.
The property is in Chisholm’s industrial park beside Highway 169, within the Iron Range.
Key Highlights
- Approximately 4370 square feet of warehouse space
- Approximately 1,680 square feet of office space
- Business/Commercial zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,548
Cap Rate
7.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$610,960
$611.0K
Cap Rate 7%
$436,400
$436.4K
Cap Rate 9%
$339,422
$339.4K
Market Conditions
NOI Build-Up for 6,360 SF
Gross rent
$37.4K $5.88/SF
− Vacancy
−$1.5K −$0.23/SF
EGI
$35.9K $5.65/SF
− OpEx
−$5.4K −$0.85/SF
NOI
$30.5K $4.80/SF
Area
St. Louis County, MN
Vacancy
3.90%
Lease Rate
$5.88 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$610,960
Cap Rate 7%
$436,400
Cap Rate 9%
$339,422
Alternative Uses
Best Use
Flex RnD
$2.14M
$1.87M – $2.49M
NOI $149,673 @ 7.0% cap · market cap 37.43%
Second Best
Warehouse
$436.4K
$381.9K – $509.1K
NOI $30,548 @ 7.0% cap · market cap 7.64%
Theoretical Best
Specialty Retail
$2.47M
$2.16M – $2.88M
NOI $172,700 @ 7.0% cap · market cap 43.19%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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See the owner, sales and loan history
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
67
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 55719, MN
5,668
Population
2,568
Households
2.2
Avg Household Size
43
Median Age
16%
College-Educated
93%
High-School Grad
84.3 sq mi
ZIP Area
67
Density / Sq Mi
$63,497
Median Household Income
$38,045
Median Earnings
$784
Median Rent
$121,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - A separate office component complements the warehouse area for administrative and operational use.
Where is this flex space located?
The property is located at 101 E Iron Drive Chisholm, MN.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Approximately 4370 square feet of warehouse space; Approximately 1,680 square feet of office space; Business/Commercial zoning
