Building Details

Building Size 16,410 SF

Year Built 1993

Buildings 1

Listed By: Jack Barnes · License #40873436 (MN) Show Phone

Source: Matthews

Added: Jul 3 Changed: Oct 9 Last Checked: Oct 16 at 5:37AM

Report an Issue

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 Jack Barnes

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

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.

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 / Yr

$194,867

Cap Rate

9.14%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,897,340 $3.9M

Cap Rate 7%

$2,783,814 $2.8M

Cap Rate 9%

$2,165,189 $2.2M

Is this asking price fair?

Market Conditions

NOI Build-Up for 16,410 SF

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 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 (±1% cap)

NOI $222,525 @ 7.0% cap · market cap 10.43%

Second Best

Warehouse

$3.09M

$2.71M – $3.61M (±1% cap)

NOI $216,475 @ 7.0% cap · market cap 10.15%

Theoretical Best

Office A

$3.92M

$3.43M – $4.57M (±1% cap)

NOI $274,056 @ 7.0% cap · market cap 12.85%

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

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Christians, Inc. - Insurance ... General Contractor

Suggested Use

Top Pick Restaurant Building Supply Real Estate Agency Auto Repair Shop Auto Parts Store Hair Salon

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

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

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

Similar For Sale Nearby

See more

Office Condo Unit

7965 Stone Creek Dr Unit 10, Chanhassen, MN 55317

$250,000

1,536 SF

View details

Chanhassen Warehouse with Highway Access

950 Lake Dr E, Chanhassen, MN

Contact for pricing

192,171 SF

View details

Two-Building Retail Property

2910 82ND ST, Chanhassen, MN 55317

Contact for pricing

View details

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