Building Details

Buildings 1

Tenancy Single

Listing Agency: Titus Commercial Real Estate Show Phone

Listed By: Mike Brass · License #40630577

Source: Crexi

Added: Jul 28 Changed: Aug 8 Last Checked: Aug 10 at 5:02AM

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Investment Insights

Based on property information with market context.

This 4,000-square-foot self-storage facility is identified for industrial and luxury storage use. The property carries I-3 General Industrial zoning, providing a defined industrial land-use designation for the site.

Located at 13025 Fenway Boulevard North in Hugo, Minnesota, the property is available in both lease and sale formats.

Key Highlights

• 4,000 SF self‑storage facility
• Identified for industrial and luxury storage use
• I‑3 General Industrial zoning

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

$52,767

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

6.21%

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%

$1,055,340 $1.1M

Cap Rate 7%

$753,814 $753.8K

Cap Rate 9%

$586,300 $586.3K

Market Conditions

NOI Build-Up for 4,000 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

$64.8K $16.20/SF

− Vacancy

−$2.7K −$0.68/SF

EGI

$62.1K $15.52/SF

− OpEx

−$9.3K −$2.33/SF

NOI

$52.8K $13.19/SF

Area

Washington 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 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%

$1,055,340

Cap Rate 7%

$753,814

Cap Rate 9%

$586,300

Alternative Uses

Best Use

Warehouse

$753.8K

$659.6K – $879.5K (±1% cap)

NOI $52,767 @ 7.0% cap · market cap 6.21%

Second Best

Self Storage

$491.0K

$429.7K – $572.9K (±1% cap)

NOI $34,373 @ 7.0% cap · market cap 4.04%

Theoretical Best

Office A

$1.11M

$972.2K – $1.30M (±1% cap)

NOI $77,775 @ 7.0% cap · market cap 9.15%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Self storage facilities

Suggested Use

Top Pick Real Estate Agency Building Supply Hair Salon Auto Parts Store Pharmacy Parking Lot & Garage

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

Location Intelligence

Trade Area within ½ mile

114

Businesses Nearby

Explore this area Business Placement

Demographics for 55038, MN

23,735

Population

9,355

Households

2.5

Avg Household Size

39

Median Age

49%

College-Educated

98%

High-School Grad

50.5 sq mi

ZIP Area

470

Density / Sq Mi

$127,194

Median Household Income

$67,946

Median Earnings

$1,844

Median Rent

$408,000

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

Questions? Ask Rey

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What type of property is this? Where is this self storage facilities located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Self storage facility - The property is identified for industrial and luxury storage use.

Where is this self storage facility located?

The property is located at 13025 Fenway Boulevard North Hugo, MN.

What is the asking price?

The asking price for this property is $850,000.

What are key features of this property?

This property features: 4,000 SF self‑storage facility; Identified for industrial and luxury storage use; I‑3 General Industrial zoning