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    8406 Sunset Rd NE Spring Lake Park, MN

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    For Sale
    $4,226,180

    Industrial property featuring 17,941 SF of office space.

    Property size:
    60,374 SF
    Lot size:
    2.74 Acres

    Property Features for 8406 Sunset Rd NE

    General Information

    Size
    60,374 SF
    Lot size
    2.74 Acres

    We can help!

    Listing Contact
    Mike Bowen
    Source: Moodyscre

    Listing Agent: Mike Bowen

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

    Learn more

    Overview

    60,374 SF Industrial Facility

    This industrial facility offers a total of 60,374 square feet, including 17,941 square feet of office space. Constructed between 1972 and 1988, the property is situated on a 2.72-acre lot, which consists of four parcels. The parking lot was updated in 2020, and the restrooms were remodeled between 2016 and 2017 to meet ADA standards. The production area benefits from skylights. A 60-foot concrete apron has been recently redone. The property features clear heights ranging from 11 to 28 feet. Electrical capacity is 1600A, 120/208V, 3PH. Loading is facilitated by 3 docks, each measuring 8 by 10 feet and equipped with levelers and seals, along with 4 drive-in doors of varying sizes. There are 97 parking stalls available. The building is fully sprinkled and features 100% HVAC, with the exception of the high-bay warehouse area. Lighting consists of T8 and LED fixtures. The north portion of the roof was updated in 2016, the south portion in 1998, and the seam/tin in 2019. Two forklift charging stations are available. The property is zoned I-1 Light Industrial.
    Location Intelligence

    Current Use by Public Records

    Manufacturing properties

    Similar Places Nearby

    Public Storage, City Moving And Storage

    Map

    City
    Spring Lake Park
    County
    Anoka
    State
    Minnesota
    Longitude
    -93.2380038
    Latitude
    45.1077433

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    FAQs

    What type of property is this?
    Warehouse - Industrial property featuring 17,941 SF of office space.
    Where is this warehouse located?
    The property is located at 8406 Sunset Rd NE Spring Lake Park, MN.
    What is the asking price?
    The asking price for this property is $4,226,180.
    What are key features of this property?
    This property features: - Substantial space: 60,374 sf total with 17,941 sf of office space; - High clear height: 11’ - 28’; - Ample loading capabilities: 3 docks with levelers/seals and 4 drive-in doors
    (952) 924-4600
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    8406 Sunset Rd NE Spring Lake Park, MN
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    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
    8406 Sunset Rd NE Spring Lake Park, MN
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    Listing Contact
    Mike Bowen
    (952) 924-4600
    Learn more
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