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

    550 & 570 Freeport NW Avenue Elk River, MN 55330

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Modern, adaptable commercial spaces available in Elk River.

    Type:Commercial/Industrial
    Lot size:
    6.85 Acres
    Added:
    Mar 11, 2026
    Days on Market:
    53
    Last Refresh:
    Apr 6 at 3:53 am

    Property Features for 550 & 570 Freeport NW Avenue

    General Information

    Standard status
    Active
    Lot size
    6.85 Acres
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    1988

    We can help!

    Listing Contact
    Price Realty

    Listing agent Price Realty

    Listing office eXp Realty

    Listing date Mar 11, 2026

    Source Exitrealty

    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

    Overview

    Elk River Commercial Leasing Opportunity

    Located in Elk River, Freeport Ave Center provides commercial leasing opportunities for businesses. Available spaces range from 2,000 to 60,000 square feet. The property has flexible mixed-use zoning and ample parking. Build-to-suit options are available. Situated along major highways and near the Twin Cities metro area, the location offers accessibility and visibility. The leasing rate is $14 to $18 per square foot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Elk River
    County
    Sherburne
    State
    Minnesota
    Longitude
    -93.5588
    Latitude
    45.3083

    Nearby Similar for Sale

    • $16

      Prime Commercial Leasing Opportunity

      Commercial leasing opportunity in Elk River, from 2,000-18,000 sq. ft.
      630 Freeport Avenue NW, Elk River, MN 55330
      View Details
    • $2,500,000

      Elk River Investment Opportunity

      55+ 1-Level rental community with stable tenant base.
      11024-11038 183rd Circle NW, Elk River, MN 55330
      View Details
    • $16

      Elk River Commercial Land

      Commercial space with mixed-use zoning in Elk River, MN.
      610 Freeport Avenue NW, Elk River, MN 55330
      View Details
    • $200,000

      Elk River Land Parcel

      Nearly 6-acre parcel in Elk River, MN.
      19289 Upland Street, Elk River, MN 55330
      View Details
    • $130,000

      Elk River Acreage Lot

      Large 1.61 acre lot in desirable Elk River location.
      Xxx 192 1/2 Avenue NW, Elk River, MN 55330
      View Details
    • $130,000

      Residential Land in Elk River

      Large 1.59 acre lot in desirable Elk River location.
      Tbd 192 1/2 Avenue NW, Elk River, MN 55330
      View Details
    • $780,000
      5,053 SF

      Elk River Professional Office Building

      5,053 sqft office building suitable for service-based businesses.
      11090 183rd Circle Northwest, Elk River, MN 55330
      View Details
    • $180,000

      Heavily Wooded Residential Land

      3.16-acre lot near Elk River Golf Club.
      20331 Salem Street NW, Elk River, MN 55330
      View Details
    • $185,000

      Acreage Homesites in Premium Community

      Homesites with city sewer access and outbuilding potential.
      21553 Joplin Street NW, Elk River, MN 55330
      View Details
    • $185,000

      Acreage Homesites in Premium Community

      1.69 acre lots in Elk River, city sewer access.
      21537 Joplin Street NW, Elk River, MN 55330
      View Details
    • $185,000

      Premium Community Homesite Opportunity

      1.96 acre homesite in a premium Elk River community.
      21575 Joplin Street NW, Elk River, MN 55330
      View Details
    • $210,000

      Acreage Homesites in Premium Community

      Premium community with acreage homesites, city sewer, and outbuilding potential.
      13441 217 Avenue NW, Elk River, MN 55330
      View Details

    FAQs

    What type of property is this?
    Commercial land - Modern, adaptable commercial spaces available in Elk River.
    Where is this commercial land located?
    The property is located at 550 & 570 Freeport NW Avenue Elk River, MN.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Flexible mixed‑use zoning allows for a wide range of business operations.; Customizable spaces available from 2,000 sq. ft to 60,000 sq. ft.; Build‑to‑suit options to meet specific business needs.
    (320) 500-4397
    We can help!
    Listing Contact
    Price Realty
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry

    550 & 570 Freeport NW Avenue, Elk River, MN 55330

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!