Flex Building with Heated
New
For Sale
$1,099,900
16651 Polk St NE, Ham Lake, MN 55304
A showroom, three offices, and a finished upper level support a range of business functions.
Property Size6,528 SF
Lot Size0.33 Acres
Price / SF$168.49
Days on Market2
Property Features for 16651 Polk St NE
General Information
Standard status
Active
Size
6,528 SF
Lot size
0.33 Acres
Site & Location
Highway Access
Yes
Outdoor Storage
Yes
Utilities to Site
Yes
Additional Details
Heavy Power
Yes
Building Details
Year Built
2025
Buildings
1
Stories
2
Listing Agency:
Acuity Group
Listed By:
Dustin Heggem · License #40416985
(763) 633-3535
Source:
Tayloronken
Added: Oct 9
Changed: Oct 10
Last Checked: Sep 1 at 5:24PM
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 Acuity Group
Investment Insights
Based on property information with market context.
Completed in 2025, this industrial-zoned flex building combines a showroom and reception area with three main-floor offices. The heated shop measures 64' x 42' and has two 12' x 12' overhead doors. Upstairs, 1,920 square feet of open space has finished drywall, allowing the interior to be configured for different uses. The property also includes approximately 0.33 acres of secured outdoor storage.
At 16651 Polk Street NE in Ham Lake, the building sits just off Hwy 65. Heavy power is available in the street and may be extended into the building.
At 16651 Polk Street NE in Ham Lake, the building sits just off Hwy 65. Heavy power is available in the street and may be extended into the building.
Key Highlights
- 2025‑built, industrial‑zoned flex building
- Approximately 0.33 acres of secured outdoor storage
- Heated 64' x 42' shop with two 12' x 12' overhead doors
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.
Property Analytics
Current Use
Lease Details
Yes
Heavy power
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
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 - A showroom, three offices, and a finished upper level support a range of business functions.
Where is this flex space located?
The property is located at 16651 Polk St NE Ham Lake, 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: 2025‑built, industrial‑zoned flex building; Approximately 0.33 acres of secured outdoor storage; Heated 64' x 42' shop with two 12' x 12' overhead doors
