Flex Building with Loading
For Sale
$2,133,000
1480 Park Rd, Chanhassen, MN 55317
Vacant at closing with office, warehouse, HVAC, and loading functionality.
Property Size16,410 SF
Lot Size1.30 Acres
Price / SF$129.98
Days on Market60
Property Features for 1480 Park Rd
General Information
Standard status
Active
Size
16,410 SF
Lot size
1.30 Acres
Property subtype
Commercial
Warehouse & Industrial
Clear Height
14 ft
Dock-High Doors
1
Drive-In Doors
2
Power
600 amps
Sprinkler System
Yes
Additional Details
Highway Access
Yes
Building Details
Building Size
16,410 SF
Year Built
1993
Buildings
1
Listing Agency:
Matthews Real Estate Investment Solutions
(612) 605-6977
Listed By:
Jack Barnes · License #40873436 (MN)
(612) 605-6977
Source:
Matthews
Added: Jul 3
Changed: Aug 30
Last Checked: Aug 30 at 10:55PM
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 Matthews Real Estate Investment Solutions
Investment Insights
Based on property information with market context.
This 16,410-square-foot flex building occupies approximately 1.30 acres and was constructed in 1993. The office/warehouse configuration includes one dock-high door and two drive-in doors, approximately 14-foot clear height, 600-amp electrical service, full HVAC, and a sprinkler system. Delivery vacant at closing supports immediate occupancy or a future repositioning plan.
The property at 1480 Park Rd in Chanhassen is less than one mile from the Chanhassen retail corridor, with access to Highway 5 and Highway 212. Its location also provides proximity to area amenities and major transit routes.
The property at 1480 Park Rd in Chanhassen is less than one mile from the Chanhassen retail corridor, with access to Highway 5 and Highway 212. Its location also provides proximity to area amenities and major transit routes.
Key Highlights
- 16,410 square feet on approximately 1.30 acres
- One dock‑high door and two drive‑in doors
- Approximately 14‑foot clear height
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
$194,867
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
9.14%
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%
$3,897,340
$3.9M
Cap Rate 7%
$2,783,814
$2.8M
Cap Rate 9%
$2,165,189
$2.2M
Market Conditions
NOI Build-Up for 16,410 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
$360.4K $21.96/SF
− Vacancy
−$100.5K −$6.13/SF
EGI
$259.8K $15.83/SF
− OpEx
−$65.0K −$3.96/SF
NOI
$194.9K $11.87/SF
Area
Carver County, MN
Vacancy
27.90%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
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%
$3,897,340
Cap Rate 7%
$2,783,814
Cap Rate 9%
$2,165,189
Alternative Uses
Best Use
Flex RnD
$3.18M
$2.78M – $3.71M
NOI $222,525 @ 7.0% cap · market cap 10.43%
Second Best
Warehouse
$3.09M
$2.71M – $3.61M
NOI $216,475 @ 7.0% cap · market cap 10.15%
Theoretical Best
Office A
$3.92M
$3.43M – $4.57M
NOI $274,056 @ 7.0% cap · market cap 12.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14 ft
Clear height
1
Dock-high doors
2
Drive-in doors
Yes
Sprinkler system
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
313
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 55317, MN
21,774
Population
8,731
Households
2.5
Avg Household Size
41
Median Age
64%
College-Educated
98%
High-School Grad
13.1 sq mi
ZIP Area
1,662
Density / Sq Mi
$133,573
Median Household Income
$65,655
Median Earnings
$1,763
Median Rent
$505,300
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Vacant at closing with office, warehouse, HVAC, and loading functionality.
Where is this flex space located?
The property is located at 1480 Park Rd Chanhassen, MN.
What is the asking price?
The asking price for this property is $2,133,000.
What are key features of this property?
This property features: 16,410 square feet on approximately 1.30 acres; One dock‑high door and two drive‑in doors; Approximately 14‑foot clear height
