Building Details

Buildings 1

Building Size 15,000 SF

Listing Agency: Service Industrial MN

Listed By: Jack Crawford Show Phone

Source: Moodyscre

Added: Jul 9 Changed: Oct 25 Last Checked: Oct 28 at 12:11PM

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Investment Insights

Based on property information with market context.

Flex space manufacturing and warehouse building totaling 15,000 SF, including approx 400 SF of office space and approx 14,600 SF of production/shop area. The building is served by five 14' tall drive-ins and two 12' tall drive-ins, with floor drains in all 7 bays. Site features include heavy industrial zoning, plus up to 29,360 SF (2/3 acre) potential outside storage.

The facility is equipped with 208V to 480V three-phase power service, flammable waste trap, and a fire suppression system. It also includes a bridge crane and radiant heat throughout, along with an air make-up system. Three existing restrooms are currently in place, and the clear height is 14' 6".

The building is designed to support multi-tenant use with water & restroom stubs to five bays, water and convertible electrical metering, and convertible gas metering. Separate water meters are also available, supporting independent service arrangements between potential tenants.

Key Highlights

• 15,000 SF manufacturing/warehouse building with approx 400 SF office and approx 14,600 SF production/shop space
• Heavy industrial zoning plus up to 29,360 SF (2/3 acre) potential outside storage
• Seven drive‑in doors: five 14' tall and two 12' tall

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$190,546

Cap Rate

8.28%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,810,920 $3.8M

Cap Rate 7%

$2,722,086 $2.7M

Cap Rate 9%

$2,117,178 $2.1M

Is this asking price fair?

Market Conditions

NOI Build-Up for 15,000 SF

Gross rent

$234.0K $15.60/SF

− Vacancy

−$9.8K −$0.66/SF

EGI

$224.2K $14.94/SF

− OpEx

−$33.6K −$2.24/SF

NOI

$190.5K $12.70/SF

Area

ZIP 55449

Vacancy

4.20%

Lease Rate

$15.60 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,810,920

Cap Rate 7%

$2,722,086

Cap Rate 9%

$2,117,178

Alternative Uses

Best Use

Warehouse

$2.72M

$2.38M – $3.18M (±1% cap)

NOI $190,546 @ 7.0% cap · market cap 8.28%

Second Best

Industrial

$2.24M

$1.96M – $2.62M (±1% cap)

NOI $156,920 @ 7.0% cap · market cap 6.82%

Theoretical Best

Office A

$4.44M

$3.89M – $5.18M (±1% cap)

NOI $311,004 @ 7.0% cap · market cap 13.52%

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

Property Analytics

Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency Law Firm Dental Office Restaurant Big Box & Wholesale 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

7

Drive-in doors

Yes

Sprinkler system

Location Intelligence

Trade Area within ½ mile

179

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 55449, MN

33,321

Population

11,824

Households

2.8

Avg Household Size

36

Median Age

47%

College-Educated

96%

High-School Grad

21.4 sq mi

ZIP Area

1,557

Density / Sq Mi

$128,750

Median Household Income

$61,714

Median Earnings

$1,723

Median Rent

$422,600

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

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Frequently Asked Questions

What type of property is this?

Flex space - Heavily industrial zoned flex space with seven drive-in doors, radiant heat, and floor drains in all bays.

Where is this flex space located?

The property is located at 1501 101st NE Blaine, MN.

What is the asking price?

The asking price for this property is $2,300,000.

What are key features of this property?

This property features: 15,000 SF manufacturing/warehouse building with approx 400 SF office and approx 14,600 SF production/shop space; Heavy industrial zoning plus up to 29,360 SF (2/3 acre) potential outside storage; Seven drive‑in doors: five 14' tall and two 12' tall