Flex Building with Six Dock
12260 Margo Ave S Hastings, MN 55033
12260 Margo Ave S, Hastings, MN, 55033
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For Sale
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Adaptable flex building with six large dock doors, occupied by a dual-tenant dog daycare/boarding and grooming school/salon operation.
Property Size13,580 SF
Price / SF$157.73
Days on Market92
Property Features for 12260 Margo Ave S
General Information
- Standard status
- Active
- Size
- 13,580 SF
- Property subtype
- RETAIL
Listing Agency
Brisky Net Lease
(715) 529-4441
Listed by
Brian Brisky · License #40546562
(715) 529-4441
Source
Moodyscre
Added: Apr 21 Updated: Jul 20 at 5:14 pm Checked: Jul 20 at 5:14 pm
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 Brisky Net Lease
Investment Insights
Based on property information with market context.
This flex building offers an adaptable layout and is configured for a complementary dual-tenant setup. Two tenants operate cohesively, including a full-service dog daycare and boarding business and a grooming school and salon providing grooming services to the public. The building also features six large dock doors, and recent improvements have been made by the tenants, including over $300,000 in improvements in 2024 by Barks & Rec.
The property is located in Hastings, Minnesota, with direct access to Highway 10 and exposure reported at over 34,000 vehicles per day. Both tenants are on long-term NNN leases with 8+ years remaining and 2% annual rent increases, with minimal landlord responsibilities.
The facility has been operating as a dog-centric asset for over 12 years, and the tenants are described as market-leading and stable in the immediate area. The offering is presented as an e-commerce-resistant, in-person demand use, supported by the surrounding population and income metrics provided in the marketing materials.
The property is located in Hastings, Minnesota, with direct access to Highway 10 and exposure reported at over 34,000 vehicles per day. Both tenants are on long-term NNN leases with 8+ years remaining and 2% annual rent increases, with minimal landlord responsibilities.
The facility has been operating as a dog-centric asset for over 12 years, and the tenants are described as market-leading and stable in the immediate area. The offering is presented as an e-commerce-resistant, in-person demand use, supported by the surrounding population and income metrics provided in the marketing materials.
Key Highlights
- ±13,580 SF dual‑tenant flex building with adaptable layout and six large dock doors
- Two tenants with aligned businesses: Barks & Rec (dog daycare/boarding) and Rio Grooming School & Salon (grooming school and salon)
- Long‑term NNN leases with 8+ years remaining for both tenants and 2% annual rent increases
Local Financial Insights For Industrial
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 | $220.0k | $16.20 |
| − Vacancy | −$9.2k | −$0.68 |
| EGI | $210.8k | $15.52 |
| − OpEx | −$63.2k | −$4.66 |
| NOI | $147.5k | $10.86 |
13,580 SF · lease $16.20/SF/yr · vacancy 4.20% · expense 30.00%
Alternative Uses
Best Use
Industrial
$2.11M
$1.84M – $2.46M
NOI $147,529 @ 7.0% cap · market cap 6.89%
Second Best
Flex RnD
$1.75M
$1.53M – $2.04M
NOI $122,152 @ 7.0% cap · market cap 5.70%
Theoretical Best
Healthcare Medical
$3.34M
$2.92M – $3.90M
NOI $233,929 @ 7.0% cap · market cap 10.92%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Rio Grooming School ...
Pet Grooming Service
Rio Grooming Self ...
Pet Grooming Service
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FAQs
What type of property is this?
Flex space - Adaptable flex building with six large dock doors, occupied by a dual-tenant dog daycare/boarding and grooming school/salon operation.
Where is this flex space located?
The property is located at 12260 Margo Ave S Hastings, MN.
What is the asking price?
The asking price for this property is $2,142,000.
What are key features of this property?
This property features: ±13,580 SF dual‑tenant flex building with adaptable layout and six large dock doors; Two tenants with aligned businesses: Barks & Rec (dog daycare/boarding) and Rio Grooming School & Salon (grooming school and salon); Long‑term NNN leases with 8+ years remaining for both tenants and 2% annual rent increases
