Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3109 Neil Armstrong Blvd Eagan, MN 55121

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Single-user office-warehouse with expansion potential and freeway access.

    Lot size:
    3.68 Acres

    Property Features for 3109 Neil Armstrong Blvd

    General Information

    Lot size
    3.68 Acres

    We can help!

    Listing Contact
    Phil R Simonet
    Phil R Simonet
    Source: Moodyscre

    Listing Agency: Forte Real Estate Partners, LLC Listing Agent: Phil R Simonet

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Eagan Office-Warehouse Property For Sale

    This single-user office-warehouse property offers a hard-to-find opportunity with the ability to accommodate multiple uses. The building is expandable and features a warehouse clear height of 19 feet. It provides easy access to the freeway system, including I-494, I35E, and Hwy 55. Located in a highly desirable suburb, the property benefits from an ample workforce. The property contains 30,128 square feet and is located at 3109 Neil Armstrong Blvd, Eagan, MN.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Warehouses

    Suggested Use

    Real Estate Agency Restaurant Law Firm Kitchen & Bath Showroom Dental Office Gym & Fitness Center Pharmacy Food Market Spa & Massage Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Door to Door Storage & Moving, Strategic Warehousing, Amazon, Allied Van Lines, U-Pack

    Location Insight

    • Map
    • Local Demand
    City
    Eagan
    County
    Dakota
    State
    Minnesota
    Longitude
    -93.1431202
    Latitude
    44.8441541

    Nearby Similar for Lease

    • Sponsored
      Contact for pricing

      MN, Eagan - Eagan Wood Dr

      Discover many ways to work your way in Ayrsley
      2640 Eagan Woods Dr, Eagan, MN 55121
      View Details
    • New
      Contact for pricing

      Grand Oak I

      Discover many ways to work your way in Grand Oak I
      860 Blue Gentian Rd, Eagan, MN 55121
      View Details
    • New
      Contact for pricing
      3,499 SF

      Eagandale Point Office Space

      Class B office building with excellent location and updated common areas.
      1400 Corporate Center Curv, Eagan, MN 55121
      View Details
    • New
      Contact for pricing
      8,251 SF

      Eagan Flex Space Available

      Flex space in Eagandale Business Park, near Lexington Avenue.
      3225 Neil Armstrong Blvd, Eagan, MN 55121
      View Details
    • $10 SF/Yr
      16,764 SF

      Eagan Industrial Flex Space Available

      16,764 SF flex space with office and warehouse components.
      1230 Eagan Industrial Rd, Eagan, MN 55121
      View Details
    • Contact for pricing
      2,831 SF

      Retail Space in Eagan, MN

      Retail space for lease in a busy Eagan location.
      2113-2149 Cliff Rd, Eagan, MN 55122
      View Details
    • Contact for pricing
      9,788 SF

      Eagan Office Space For Rent

      Available office space in Eagan with cafeteria and conference rooms.
      800 Lone Oak Rd, Eagan, MN 55121
      View Details
    • New
      Contact for pricing
      2,133 SF

      Eagan Office Space For Rent

      Office space for rent with convenient highway access.
      1519 Central Pkwy, Eagan, MN 55121
      View Details
    • Contact for pricing
      16,756 SF

      Eagan Industrial Property with Truck Plug-Ins

      Industrial property in Eagan with truck plug-ins and wash bay.
      3707 Kennebec Dr, Eagan, MN 55122
      View Details
    • Contact for pricing
      1,817 SF

      Eagan Office Space Available

      Second-floor office space with open layout and windowed offices.
      2121 Cliff Dr, Eagan, MN 55122
      View Details
    • Contact for pricing
      11,650 SF

      Eagan Office Space with Amenities

      Office space available with fitness centers, walking trails, and more.
      2805 Dodd Rd, Eagan, MN 55121
      View Details
    • Contact for pricing
      25,067 SF

      Warehouse Space Available in Eagan

      Up to 25,000 SF of warehouse space for sublease.
      925 Yankee Doodle Rd, Eagan, MN 55121
      View Details

    FAQs

    What type of property is this?
    Warehouse - Single-user office-warehouse with expansion potential and freeway access.
    Where is this warehouse located?
    The property is located at 3109 Neil Armstrong Blvd Eagan, MN.
    What are key features of this property?
    This property features: - Hard to find single user office-warehouse property; - Easy access to freeway system-I-494, I35E, and Hwy 55; - Excellent warehouse clear height at 19’
    (952) 854-8290 Call to check price and availability
    Request Owner's contact information
    3109 Neil Armstrong Blvd Eagan, MN 55121
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3109 Neil Armstrong Blvd
    Eagan, MN 55121
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3109 Neil Armstrong Blvd Eagan, MN 55121
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Phil R Simonet
    Phil R Simonet
    Real Estate License ID: 40144144
    (952) 854-8290 (952) 854-8381
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!