Climate-Controlled Flex
New
For Sale
$195,000
107-7176 222nd Street, Lakeville, MN 55044
Adaptable commercial units feature concrete floors, steel walls, and overhead garage access within a climate-controlled facility.
Property Size1,125 SF
Price / SF$173.33
Days on Market7
Property Features for 107-7176 222nd Street
General Information
Standard status
Active
Size
1,125 SF
Additional Details
Power
100 amps
Taxes and HOA fees
Annual Taxes
$1.00
Amenities
climate-controlled facility
secure
Listing Agency:
Edina Realty, Inc.
(715) 386-8236
Listed By:
Dennis O'Malley
(715) 220-1568
Source:
Exprealty
Added: Sep 1
Changed: Sep 6
Last Checked: Sep 6 at 2:35PM
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 Edina Realty, Inc.
Investment Insights
Based on property information with market context.
This flex-space property consists of commercial garage condo units within a climate-controlled facility. Each unit measures 25 x 45 feet and includes concrete flooring, steel wall construction, a 14 x 14 overhead garage door, and a 100-amp service panel. The layout supports office, shop, light industrial, warehouse, and personal workspace applications.
Located at 107-7176 222nd Street in Lakeville, Minnesota, the property provides enclosed commercial space with controlled access and durable finishes. Optional improvements include a mezzanine, stairs, and bathroom, subject to additional cost. The configuration may suit contractors, automotive users, and businesses requiring secure indoor storage or work space.
Located at 107-7176 222nd Street in Lakeville, Minnesota, the property provides enclosed commercial space with controlled access and durable finishes. Optional improvements include a mezzanine, stairs, and bathroom, subject to additional cost. The configuration may suit contractors, automotive users, and businesses requiring secure indoor storage or work space.
Key Highlights
- 25 x 45‑foot commercial garage condo units
- Climate‑controlled facility with enclosed units
- 14 x 14 overhead garage doors
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$14,841
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.61%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$296,820
$296.8K
Cap Rate 7%
$212,014
$212.0K
Cap Rate 9%
$164,900
$164.9K
Market Conditions
NOI Build-Up for 1,125 SF
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.
Gross rent
$18.2K $16.20/SF
− Vacancy
−$765 −$0.68/SF
EGI
$17.5K $15.52/SF
− OpEx
−$2.6K −$2.33/SF
NOI
$14.8K $13.19/SF
Area
Dakota County, MN
Vacancy
4.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$296,820
Cap Rate 7%
$212,014
Cap Rate 9%
$164,900
Alternative Uses
Best Use
Warehouse
$212.0K
$185.5K – $247.4K
NOI $14,841 @ 7.0% cap · market cap 7.61%
Second Best
Industrial
$174.6K
$152.8K – $203.7K
NOI $12,222 @ 7.0% cap · market cap 6.27%
Theoretical Best
Healthcare Medical
$276.8K
$242.2K – $323.0K
NOI $19,379 @ 7.0% cap · market cap 9.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
13
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 55044, MN
60,446
Population
22,519
Households
2.7
Avg Household Size
37
Median Age
54%
College-Educated
97%
High-School Grad
65.3 sq mi
ZIP Area
926
Density / Sq Mi
$140,612
Median Household Income
$69,991
Median Earnings
$1,730
Median Rent
$464,500
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Adaptable commercial units feature concrete floors, steel walls, and overhead garage access within a climate-controlled facility.
Where is this flex space located?
The property is located at 107-7176 222nd Street Lakeville, MN.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: 25 x 45‑foot commercial garage condo units; Climate‑controlled facility with enclosed units; 14 x 14 overhead garage doors
