Building Details

Year built 1983

Building materials Wood Frame, Steel Frame

Roof type Metal, Asphalt, Rubber

Listing Agency: Mirabella Realty Show Phone

Listed By: Trent Carda · License #40729431 Show Phone

Added: Aug 27 Changed: Sep 14 Last Checked: Oct 13 at 7:06PM

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MLS# 150606

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

Investment Insights

Based on property information with market context.

This flex property combines approximately 1,680 square feet of office space with 4,370 square feet of warehouse area. The building provides a practical mix of finished administrative space and larger operational space within a single commercial facility. Constructed in 1983, the property is zoned COMM and includes wood and steel frame construction.

Located at 101 E Iron Drive in Chisholm’s industrial park, the property sits next to Highway 169 for convenient regional access. A large parking lot accommodates employees, customers, vehicles, equipment, and deliveries. The combination of office area, warehouse capacity, parking, and highway access supports a range of commercial, storage, manufacturing, and service applications identified for the property.

Key Highlights

• Approximately 1,680 SF of office space
• Approximately 4,370 SF of warehouse space
• Located next to Highway 169 in Chisholm’s industrial park

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$23,304

Cap Rate

5.83%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$466,080 $466.1K

Cap Rate 7%

$332,914 $332.9K

Cap Rate 9%

$258,933 $258.9K

Market Conditions

NOI Build-Up for 1,680 SF

Gross rent

$41.9K $24.96/SF

− Vacancy

−$10.9K −$6.46/SF

EGI

$31.1K $18.50/SF

− OpEx

−$7.8K −$4.62/SF

NOI

$23.3K $13.87/SF

Area

St. Louis County, MN

Vacancy

25.90%

Lease Rate

$24.96 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$466,080

Cap Rate 7%

$332,914

Cap Rate 9%

$258,933

Alternative Uses

Best Use

Flex RnD

$564.8K

$494.2K – $658.9K (±1% cap)

NOI $39,536 @ 7.0% cap · market cap 9.89%

Second Best

Office B

$332.9K

$291.3K – $388.4K (±1% cap)

NOI $23,304 @ 7.0% cap · market cap 5.83%

Theoretical Best

Specialty Retail

$651.7K

$570.2K – $760.3K (±1% cap)

NOI $45,619 @ 7.0% cap · market cap 11.41%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency Building Supply Restaurant Auto Parts Store Dental Office Pharmacy

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - Office and warehouse areas provide a flexible commercial layout with direct access to Highway 169.

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 1,680 SF of office space; Approximately 4,370 SF of warehouse space; Located next to Highway 169 in Chisholm’s industrial park