Building Details

Tenancy Multi

Listing Agency: Upland Real Estate Group, Inc Show Phone

Listed By: Keith A Sturm · License #81883 Show Phone

Source: Moodyscre

Added: Oct 29 Changed: Oct 30 Last Checked: Oct 30 at 2:29PM

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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 Upland Real Estate Group, Inc

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Investment Insights

Based on property information with market context.

The 39,792-square-foot warehouse in Rogers is fully leased to AbeTech and Stereotaxis. Building features include 21-foot clear height and five dock-high loading positions. Stereotaxis’ premises contain a 1,500-square-foot cleanroom built for medical device manufacturing. AbeTech, a systems integrator serving manufacturing, warehousing, and distribution customers, is entering a new seven-year lease. Stereotaxis is a publicly traded medical technology company focused on robotic cardiac-procedure systems.

The property at 12560 Fletcher Ln is approximately 25 miles northwest of Minneapolis, with access to I-94 and Highway 101. Its Rogers setting includes industrial, distribution, commercial, and employment uses. The city has more than 11,000 local jobs, with employment forecast to reach 14,800 by 2040.

Key Highlights

• Fully leased to AbeTech and Stereotaxis
• AbeTech is entering a new 7‑year lease
• 39,792 square feet with 21' clear height and five dock‑high loading docks

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$524,923

Cap Rate

8.02%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$10,498,460 $10.5M

Cap Rate 7%

$7,498,900 $7.5M

Cap Rate 9%

$5,832,478 $5.8M

Is this asking price fair?

Market Conditions

NOI Build-Up for 39,792 SF

Gross rent

$644.6K $16.20/SF

− Vacancy

−$27.1K −$0.68/SF

EGI

$617.6K $15.52/SF

− OpEx

−$92.6K −$2.33/SF

NOI

$524.9K $13.19/SF

Area

Hennepin County, MN

Vacancy

4.20%

Lease Rate

$16.20 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$10,498,460

Cap Rate 7%

$7,498,900

Cap Rate 9%

$5,832,478

Alternative Uses

Best Use

Warehouse

$7.50M

$6.56M – $8.75M (±1% cap)

NOI $524,923 @ 7.0% cap · market cap 8.02%

Second Best

Industrial

$6.18M

$5.40M – $7.20M (±1% cap)

NOI $432,289 @ 7.0% cap · market cap 6.61%

Theoretical Best

Office A

$9.49M

$8.31M – $11.08M (±1% cap)

NOI $664,548 @ 7.0% cap · market cap 10.16%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Manufacturing properties

Suggested Use

Top Pick Parking Lot & Garage Law Firm (Bike/Boat/Book/etc) Store Grocery & Convenience Store Carpet & Flooring Store HVAC Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

21 ft

Clear height

5

Dock-high doors

100%

Occupancy

Multi-tenant

Tenancy

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

210

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 55374, MN

15,851

Population

5,496

Households

2.9

Avg Household Size

38

Median Age

53%

College-Educated

98%

High-School Grad

34.2 sq mi

ZIP Area

463

Density / Sq Mi

$152,239

Median Household Income

$75,382

Median Earnings

$1,535

Median Rent

$438,000

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

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Frequently Asked Questions

What type of property is this?

Warehouse - Fully occupied industrial space pairs warehouse capacity with a specialized cleanroom build-out.

Where is this warehouse located?

The property is located at 12560 Fletcher Ln Rogers, MN.

What is the asking price?

The asking price for this property is $6,542,830.

What are key features of this property?

This property features: Fully leased to AbeTech and Stereotaxis; AbeTech is entering a new 7‑year lease; 39,792 square feet with 21' clear height and five dock‑high loading docks