Renovated Flex
For Sale
Contact for pricing
14800 Martin Dr, Eden Prairie, MN 55344
3,572 SF office and 3,156 SF warehouse with dock and drive-in door; renovated in 2021.
Property Size6,728 SF
Lot Size0.60 Acres
Price / SF$184.30
Days on Market164
Property Features for 14800 Martin Dr
General Information
Standard status
Active
Size
6,728 SF
Lot size
0.60 Acres
Property subtype
INDUSTRIAL
Warehouse & Industrial
Dock-High Doors
1
Drive-In Doors
1
Additional Details
Highway Access
Yes
Building Details
Year Renovated
2021
Listing Agency:
CRE Partners
Listed By:
Eric Riemer · License #40239919
(612) 730-4631
Source:
Moodyscre
Added: Mar 26
Changed: Aug 24
Last Checked: Aug 14 at 7:41AM
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 CRE Partners
Investment Insights
Based on property information with market context.
This renovated flex office/warehouse includes approximately 6,728 square feet total, with an additional mezzanine of about 1,017 square feet. The space is split between approximately 3,572 square feet of office area and about 3,156 square feet of warehouse space. Operational features include a dock door and a drive-in door.
The property sits on roughly 0.6 acres and has been upgraded with a new roof in 2021 and a parking lot update in 2024. It also offers easy access to Hwy 5 and 494, supporting convenient inbound and outbound logistics.
With a combination of office space and warehouse capacity, the building is well-suited for users who need dedicated work areas alongside loading and storage capability.
The property sits on roughly 0.6 acres and has been upgraded with a new roof in 2021 and a parking lot update in 2024. It also offers easy access to Hwy 5 and 494, supporting convenient inbound and outbound logistics.
With a combination of office space and warehouse capacity, the building is well-suited for users who need dedicated work areas alongside loading and storage capability.
Key Highlights
- Approx 6,728 SF total (plus approx 1,017 SF mezzanine) with approx 3,572 SF office and approx 3,156 SF warehouse
- 0.6‑acre property with dock and drive‑in door for loading and warehouse access
- Renovated in 2021
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
$88,753
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
7.16%
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%
$1,775,060
$1.8M
Cap Rate 7%
$1,267,900
$1.3M
Cap Rate 9%
$986,144
$986.1K
Market Conditions
NOI Build-Up for 6,728 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
$109.0K $16.20/SF
− Vacancy
−$4.6K −$0.68/SF
EGI
$104.4K $15.52/SF
− OpEx
−$15.7K −$2.33/SF
NOI
$88.8K $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 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%
$1,775,060
Cap Rate 7%
$1,267,900
Cap Rate 9%
$986,144
Alternative Uses
Best Use
Warehouse
$1.27M
$1.11M – $1.48M
NOI $88,753 @ 7.0% cap · market cap 7.16%
Second Best
Industrial
$1.04M
$913.6K – $1.22M
NOI $73,091 @ 7.0% cap · market cap 5.89%
Theoretical Best
Office A
$1.61M
$1.40M – $1.87M
NOI $112,361 @ 7.0% cap · market cap 9.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Dock-high doors
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
511
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 55344, MN
15,837
Population
7,416
Households
2.1
Avg Household Size
35
Median Age
61%
College-Educated
92%
High-School Grad
8.9 sq mi
ZIP Area
1,779
Density / Sq Mi
$89,590
Median Household Income
$64,278
Median Earnings
$1,725
Median Rent
$351,600
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - 3,572 SF office and 3,156 SF warehouse with dock and drive-in door; renovated in 2021.
Where is this flex space located?
The property is located at 14800 Martin Dr Eden Prairie, MN.
What is the asking price?
The asking price for this property is $1,240,000.
What are key features of this property?
This property features: Approx 6,728 SF total (plus approx 1,017 SF mezzanine) with approx 3,572 SF office and approx 3,156 SF warehouse; 0.6‑acre property with dock and drive‑in door for loading and warehouse access; Renovated in 2021
