Remodeled Warehouse with Excellent
For Sale
Contact for pricing
2500 Lexington Ave S, Mendota Heights, MN
Remodeled warehouse with highway access, air conditioning, and sprinkler system.
Property Size13,975 SF
Lot Size1.55 Acres
Price / SF$164.58
Days on Market1054
Property Features for 2500 Lexington Ave S
General Information
Standard status
Active
Size
13,975 SF
Lot size
1.55 Acres
Property subtype
INDUSTRIAL
Listing Agency:
Colliers
(952) 897-7899
Listed By:
Steve T Nilsson
(952) 897-7899
Source:
Moodyscre
Added: Sep 12, 2023
Changed: Jul 6
Last Checked: Jul 21 at 6:38AM
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 Colliers
Investment Insights
Based on property information with market context.
This 13,975-square-foot warehouse, remodeled in 2018, features a new roof with a 20-year warranty. The property is fully air-conditioned and equipped with a sprinkler system. It offers convenient access to I-35E, I-494, and MN-55. The space includes an expansive breakroom and an outdoor patio area. Newer furniture may be available to make the space turn-key.
Key Highlights
- Fully remodeled in 2018 - including new roof with 20 year warranty
- Easy access to I‑35E, I‑494 and MN‑55
- Newer furniture may stay to make space turn‑key
Financial Insights For Warehouse
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 | $226.4k | $16.20 |
| − Vacancy | −$9.5k | −$0.68 |
| EGI | $216.9k | $15.52 |
| − OpEx | −$32.5k | −$2.33 |
| NOI | $184.4k | $13.19 |
13,975 SF · lease $16.20/SF/yr · vacancy 4.20% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$2.63M
$2.30M – $3.07M
NOI $184,353 @ 7.0% cap · market cap 8.02%
Second Best
Industrial
$2.17M
$1.90M – $2.53M
NOI $151,820 @ 7.0% cap · market cap 6.60%
Theoretical Best
Healthcare Medical
$3.44M
$3.01M – $4.01M
NOI $240,733 @ 7.0% cap · market cap 10.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
199
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Warehouse - Remodeled warehouse with highway access, air conditioning, and sprinkler system.
Where is this warehouse located?
The property is located at 2500 Lexington Ave S Mendota Heights, MN.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Fully remodeled in 2018 - including new roof with 20 year warranty; Easy access to I‑35E, I‑494 and MN‑55; Newer furniture may stay to make space turn‑key
