Flex Space with Heated
16651 Polk Street Ne, Andover, MN 55304
For Sale
$1,099,900
Industrial zoning, a showroom, offices, and shop space combine in a 2025 building with secured outdoor storage.
Property Size6,528 SF
Price / SF$168.49
Days on Market13
Property Features for 16651 Polk Street Ne
General Information
Standard status
Size
Zoning
Site & Location
Highway Access
Outdoor Storage
Utilities to Site
Taxes and HOA fees
Annual Taxes
Amenities
Natural Gas
No
16-20
42x64
12
2688
72x64
Chain Link
Building,Land
Well
5.098
414x486x496x443
4608
Attached Garage,Asphalt,Floor Drain,Finished Garage,Garage Door Opener,Gravel,Heated Garage,Insulated Garage,Parking Lot,Paved Lot
6528
Public Maintained Road
Building Details
Building Size
Year Built
Buildings
Stories
Listing Agency:
(612) 656-1200
Listed By:
Shane Rink
Source:
Imetroproperty
Added: Oct 26
Changed: Nov 6
Last Checked: Nov 6 at 3:49PM
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 Shane Rink
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Completed in 2025, this 6,528-square-foot flex building has a reception area, a showroom, and three main-floor offices. The heated shop measures 64 by 42 feet and has two 12-by-12-foot overhead doors. An additional 1,920 square feet upstairs is finished with drywall and left open for configuration. Secured outdoor storage is also available on site.
The property is just off Hwy 65. Heavy power is available in the street and can be brought into the building. The site is zoned Industrial.
The property is just off Hwy 65. Heavy power is available in the street and can be brought into the building. The site is zoned Industrial.
Key Highlights
- 6,528‑square‑foot flex building, built in 2025
- 64' x 42' heated shop with two 12' x 12' overhead doors
- 1,920 square feet of open upper‑level space with finished drywall
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$70,918
Cap Rate
6.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,418,360
$1.4M
Cap Rate 7%
$1,013,114
$1.0M
Cap Rate 9%
$787,978
$788.0K
Market Conditions
NOI Build-Up for 6,528 SF
Gross rent
$105.8K $16.20/SF
− Vacancy
−$4.4K −$0.68/SF
EGI
$101.3K $15.52/SF
− OpEx
−$30.4K −$4.66/SF
NOI
$70.9K $10.86/SF
Area
Anoka 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%
$1,418,360
Cap Rate 7%
$1,013,114
Cap Rate 9%
$787,978
Alternative Uses
Best Use
Retail
$1.59M
$1.39M – $1.85M
NOI $111,063 @ 7.0% cap · market cap 10.10%
Second Best
Industrial
$1.01M
$886.5K – $1.18M
NOI $70,918 @ 7.0% cap · market cap 6.45%
Theoretical Best
Office A
$1.81M
$1.59M – $2.12M
NOI $126,929 @ 7.0% cap · market cap 11.54%
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
Lease Details
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
21
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 55304, MN
49,128
Population
17,318
Households
2.8
Avg Household Size
40
Median Age
37%
College-Educated
96%
High-School Grad
68.6 sq mi
ZIP Area
716
Density / Sq Mi
$127,145
Median Household Income
$60,835
Median Earnings
$1,628
Median Rent
$402,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - Industrial zoning, a showroom, offices, and shop space combine in a 2025 building with secured outdoor storage.
Where is this flex space located?
The property is located at 16651 Polk Street Ne Andover, MN.
What is the asking price?
The asking price for this property is $1,099,900.
What are key features of this property?
This property features: 6,528‑square‑foot flex building, built in 2025; 64' x 42' heated shop with two 12' x 12' overhead doors; 1,920 square feet of open upper‑level space with finished drywall
