Flex Space with Attached
155 S Montgomery Ave, Le Center, MN 56057
For Sale
Contact for pricing
Office component includes a half bath and connects to an attached garage for flexible commercial use.
Property Size600 SF
Price / SF$1.00
Days on Market60
Property Features for 155 S Montgomery Ave
General Information
Standard status
Size
Taxes and HOA fees
Annual Taxes
Listing Agency:
Re/Max Advantage Plus - Le Center
Listed By:
LYNNEA J WETZEL · License #20547527
(612) 702-3687
Source:
Exprealty
Added: Sep 11
Changed: Nov 6
Last Checked: Nov 8 at 8:51AM
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 Re/Max Advantage Plus - Le Center
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Investment Insights
Based on property information with market context.
This flex property at 155 S Montgomery Ave in Le Center combines a 600 sq ft office with access to a 1/2 bath and a 30x50 attached garage totaling 1,500 sq ft. The combined configuration can accommodate up to 2,100 sq ft when the office and garage areas are used together.
The building was previously used as a plumbing and heating shop and offers a mix of office and garage space for a range of commercial applications. The owners have indicated a willingness to make reasonable updates to the space.
The building was previously used as a plumbing and heating shop and offers a mix of office and garage space for a range of commercial applications. The owners have indicated a willingness to make reasonable updates to the space.
Key Highlights
- 600 sq ft office with access to a 1/2 bath
- Attached 30x50 garage totaling 1,500 sq ft
- Combined space can accommodate up to 2,100 sq ft
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$6,518
Suggested Prices Based on Cap Rates
Cap Rate 5%
$130,360
$130.4K
Cap Rate 7%
$93,114
$93.1K
Cap Rate 9%
$72,422
$72.4K
Market Conditions
NOI Build-Up for 600 SF
Gross rent
$9.7K $16.20/SF
− Vacancy
−$408 −$0.68/SF
EGI
$9.3K $15.52/SF
− OpEx
−$2.8K −$4.66/SF
NOI
$6.5K $10.86/SF
Area
Le Sueur County, MN
Vacancy
4.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$130,360
Cap Rate 7%
$93,114
Cap Rate 9%
$72,422
Alternative Uses
Best Use
Flex RnD
$116.2K
$101.7K – $135.6K
NOI $8,136 @ 7.0% cap · market cap 1,356.00%
Second Best
Warehouse
$113.1K
$98.9K – $131.9K
NOI $7,915 @ 7.0% cap · market cap 1,319.17%
Theoretical Best
Office A
$143.1K
$125.3K – $167.0K
NOI $10,020 @ 7.0% cap · market cap 1,670.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
262
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 56057, MN
3,949
Population
1,619
Households
2.4
Avg Household Size
39
Median Age
17%
College-Educated
91%
High-School Grad
85.2 sq mi
ZIP Area
46
Density / Sq Mi
$81,895
Median Household Income
$41,912
Median Earnings
$874
Median Rent
$233,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - Office component includes a half bath and connects to an attached garage for flexible commercial use.
Where is this flex space located?
The property is located at 155 S Montgomery Ave Le Center, MN.
What are key features of this property?
This property features: 600 sq ft office with access to a 1/2 bath; Attached 30x50 garage totaling 1,500 sq ft; Combined space can accommodate up to 2,100 sq ft
