Industrial Warehouse with
For Sale
Contact for pricing
Pending
692 Glendale St, Saint Paul, MN 55114
Industrial building offering a large, column-free warehouse with a small office and added mezzanine and basement storage.
Property Size5,150 SF
Lot Size0.15 Acres
Days on Market613
Property Features for 692 Glendale St
General Information
Standard status
Pending
Size
5,150 SF
Lot size
0.15 Acres
Property subtype
INDUSTRIAL
Additional Details
Highway Access
Yes
Heavy Power
Yes
Amenities
trench drains
flammable waste trap
makeup air
Listing Agency:
Element, Inc
(612) 436-8200
Listed By:
Aaron Meyers
(612) 405-4740
Source:
Moodyscre
Added: Jan 10, 2025
Changed: Sep 3
Last Checked: Sep 14 at 10:51AM
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 Element, Inc
Investment Insights
Based on property information with market context.
This industrial building includes a large, column-free open warehouse area with a small office space, plus additional mezzanine and basement storage. The space is equipped with trench drains and a flammable waste trap, along with makeup air and a 1,200 Amp, 480-volt, 3-phase electrical service.
The property is situated on a 0.15-acre lot near the I-94/Highway 280 interchange, providing convenient highway access for day-to-day operations.
Designed for practical use, the layout combines a primary warehouse area with office space and supplementary storage to support a range of industrial workflows.
The property is situated on a 0.15-acre lot near the I-94/Highway 280 interchange, providing convenient highway access for day-to-day operations.
Designed for practical use, the layout combines a primary warehouse area with office space and supplementary storage to support a range of industrial workflows.
Key Highlights
- 5,150 SF industrial building with large open warehouse plus small office space
- Approximately 4,950 SF column‑free warehouse area for flexible layout and operations
- About 200 SF office space included
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
$67,937
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
7.34%
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%
$1,358,740
$1.4M
Cap Rate 7%
$970,529
$970.5K
Cap Rate 9%
$754,856
$754.9K
Market Conditions
NOI Build-Up for 5,150 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
$83.4K $16.20/SF
− Vacancy
−$3.5K −$0.68/SF
EGI
$79.9K $15.52/SF
− OpEx
−$12.0K −$2.33/SF
NOI
$67.9K $13.19/SF
Area
Dakota 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%
$1,358,740
Cap Rate 7%
$970,529
Cap Rate 9%
$754,856
Alternative Uses
Best Use
Warehouse
$970.5K
$849.2K – $1.13M
NOI $67,937 @ 7.0% cap · market cap 7.34%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$1.27M
$1.11M – $1.48M
NOI $88,714 @ 7.0% cap · market cap 9.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Heavy power
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,963
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 55114, MN
5,012
Population
2,806
Households
1.8
Avg Household Size
29
Median Age
67%
College-Educated
96%
High-School Grad
1.3 sq mi
ZIP Area
3,855
Density / Sq Mi
$65,236
Median Household Income
$52,738
Median Earnings
$1,588
Median Rent
$296,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
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- North Star Mini Storage — Specialty Building, 2356 University Ave W, St Paul, MN 55114
Frequently Asked Questions
What type of property is this?
Warehouse - Industrial building offering a large, column-free warehouse with a small office and added mezzanine and basement storage.
Where is this warehouse located?
The property is located at 692 Glendale St Saint Paul, MN.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: 5,150 SF industrial building with large open warehouse plus small office space; Approximately 4,950 SF column‑free warehouse area for flexible layout and operations; About 200 SF office space included
