Listing Agency: Obsidian Group e***@obsidiangroup.com Show Phone

Listed By: Ethan Finger Show Phone

Source: Moodyscre

Added: Sep 30, 2024 Changed: Jul 6 Last Checked: Jul 21 at 4:02AM

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Investment Insights

Based on property information with market context.

This 31,761 square foot industrial flex space is located in Farmington, Minnesota. Constructed in 1951, the property sits on a 1.96-acre lot and is zoned I1. The roof was replaced in 2020. The building features clear heights of 9 and 14 feet. Loading is facilitated by six drive-in doors and one loading dock. There are currently 11 tenants. The property is an option for an owner/user. The operating expenses and taxes are $3.75 per square foot.

Key Highlights

• High NOI: $107,653
• Owner/User Option: Yes
• Significant Square Footage: 31,761sf

Property Analytics

Property Profile

Current Use

T&M Metal Works, ... Metal Fabrication Plant RJ Restorations Inc. Auto Repair Shop Dakota Wood Design Hardware & Home Improvement The Black Cat Market (Bike/Boat/Book/etc) Store Shopbyatlantic Warehouse & Storage

Suggested Use

Top Pick Law Firm Real Estate Agency Spa & Massage Center Restaurant Nail Salon Hair Salon

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

Location Intelligence

Trade Area within ½ mile

376

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

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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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Similar Off Market Nearby

• Apples 2 Apples Catering — 22280 Chippendale Ave W suite a, Farmington, MN 55024
• Distinctive Catering & Events — 22280 Chippendale Ave W, Farmington, MN 55024

Frequently Asked Questions

What type of property is this?

Flex space - 31,761 SF industrial flex space in Farmington, Minnesota.

Where is this flex space located?

The property is located at 701 1st St Farmington, MN.

What is the asking price?

The asking price for this property is $1,400,000.

What are key features of this property?

This property features: High NOI: $107,653; Owner/User Option: Yes; Significant Square Footage: 31,761sf