Flex Space with Overhead
For Sale
$333,900
11i-7041 49th St Ne, Albertville, MN 55301
Gated, association-maintained units provide adaptable workspace with immediate occupancy and private entrances.
Property Size1,200 SF
Price / SF$278.25
Days on Market91
Property Features for 11i-7041 49th St Ne
General Information
Standard status
Active
Size
1,200 SF
Warehouse & Industrial
Clear Height
18 ft
Drive-In Doors
1
Additional Details
Highway Access
Yes
Amenities
clubhouse
gated community
Listing Agency:
eXp Realty
(763) 227-6009
Listed By:
Kurt E Sutherland
(763) 227-6009
Source:
Exprealty
Added: May 18
Changed: Aug 13
Last Checked: Aug 16 at 11:16AM
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 eXp Realty
Investment Insights
Based on property information with market context.
This flex-space condominium community offers 66 association-maintained units, each providing approximately 1, 200 sq. ft. for a customizable work environment. Units feature 18 ft. sidewalls, a 14 ft. overhead door, floor drain, interior water spigot, and rough-in bath. The layout also allows room for a loft or mezzanine, subject to the buyer’s plans. A maintenance-free exterior, private entrance, paved parking lot, additional parking availability, and generous turnaround area round out the improvements. Immediate occupancy is available.
The gated community is positioned just north of I-94 and County Road 19/Labeaux Ave in Albertville. A clubhouse is available for family or business gatherings, while association-maintained common services include garbage, snow removal, and lawn care. The property is offered as a flex-space setting that can be customized for a home business, equipment storage, trade-related operations, or other workspace needs supported by the unit configuration.
The gated community is positioned just north of I-94 and County Road 19/Labeaux Ave in Albertville. A clubhouse is available for family or business gatherings, while association-maintained common services include garbage, snow removal, and lawn care. The property is offered as a flex-space setting that can be customized for a home business, equipment storage, trade-related operations, or other workspace needs supported by the unit configuration.
Key Highlights
- 66 association‑maintained units available
- Approximately 1, 200 sq. ft. per unit with 18 ft. sidewalls
- 14 ft. overhead door, floor drain, interior water spigot, and rough‑in bath
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
$16,272
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
4.87%
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%
$325,440
$325.4K
Cap Rate 7%
$232,457
$232.5K
Cap Rate 9%
$180,800
$180.8K
Market Conditions
NOI Build-Up for 1,200 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
$26.4K $21.96/SF
− Vacancy
−$1.3K −$1.10/SF
EGI
$25.0K $20.86/SF
− OpEx
−$8.8K −$7.30/SF
NOI
$16.3K $13.56/SF
Area
Wright County, MN
Vacancy
5.00%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
35.00%
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%
$325,440
Cap Rate 7%
$232,457
Cap Rate 9%
$180,800
Alternative Uses
Best Use
Flex RnD
$232.5K
$203.4K – $271.2K
NOI $16,272 @ 7.0% cap · market cap 4.87%
Second Best
Warehouse
$226.1K
$197.9K – $263.8K
NOI $15,830 @ 7.0% cap · market cap 4.74%
Theoretical Best
Office A
$286.3K
$250.5K – $334.0K
NOI $20,041 @ 7.0% cap · market cap 6.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
18 ft
Clear height
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
96
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 55301, MN
12,791
Population
4,720
Households
2.7
Avg Household Size
33
Median Age
44%
College-Educated
98%
High-School Grad
8.2 sq mi
ZIP Area
1,560
Density / Sq Mi
$131,157
Median Household Income
$65,890
Median Earnings
$1,458
Median Rent
$324,000
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 - Gated, association-maintained units provide adaptable workspace with immediate occupancy and private entrances.
Where is this flex space located?
The property is located at 11i-7041 49th St Ne Albertville, MN.
What is the asking price?
The asking price for this property is $333,900.
What are key features of this property?
This property features: 66 association‑maintained units available; Approximately 1, 200 sq. ft. per unit with 18 ft. sidewalls; 14 ft. overhead door, floor drain, interior water spigot, and rough‑in bath
