Flex Space with Oversized
For Sale
$299,900
16765 198th Avenue NW, Big Lake, MN 55309
Commercial Sale, Big Lake, MN
Property Size1,500 SF
Lot Size0.04 Acres
Price / SF$199.93
Days on Market499
Property Features for 16765 198th Avenue NW
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Business/Commercial
Parking features
Garage, Driveway, RV, Guest, Open, Secured
Window features
Double Pane Windows, Insulated Windows
High school district
Big Lake
Directions
From HWY 10 E, Right on 168th Street NW, Left on 198th Ave, Right To Big Lake Car Condo Complex
Standard status
Active
APN
65006050405
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3000
Utilities
Heating system
Oil, Ductless (Heating)
Cooling system
Ductless
Amenities
powder bath
bar area
community clubhouse
fiber optic high-speed internet
24/7 automated access
smartphone-enabled security cameras
Building Details
Year built
2022
Roof type
Metal
Listing Agency:
Fish MLS Realty
(763) 717-7200
Listed By:
John Olson
(763) 568-3527
Added: May 31, 2025
Changed: Oct 8
Last Checked: Oct 11 at 2:06AM
MLS# 6730447
Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2022 end-unit flex space measures 60 feet deep by 25 feet wide and has a 14-foot-by-14-foot overhead door. Concrete floors are suited to vehicle lifts, with footings prepared for 2-post lifts; the interior also includes steel walls, an 8-foot floor drain, and R50 ceiling insulation. In-floor radiant heat has Wi-Fi controls, and a ductless mini-split provides air conditioning. A powder bath and 14-by-25-foot mezzanine add finished space, with wood details, cabinetry, wrought iron railings, and commercial-grade LVT. The bar area has porcelain tile flooring and solid wood counters.
The gated campus offers automated access at all hours, smartphone-enabled security cameras, and a community clubhouse. HOA dues cover trash removal, landscaping, snow removal, internet, and security features. The unit also has 100 AMP electrical service, LED high-bay lighting, fiber optic internet, ventilating windows, and cold water spigots inside and outside.
The gated campus offers automated access at all hours, smartphone-enabled security cameras, and a community clubhouse. HOA dues cover trash removal, landscaping, snow removal, internet, and security features. The unit also has 100 AMP electrical service, LED high-bay lighting, fiber optic internet, ventilating windows, and cold water spigots inside and outside.
Key Highlights
- End‑unit flex space built in 2022
- 60 feet deep by 25 feet wide, with a 14‑foot‑by‑14‑foot overhead door
- Concrete flooring, lift‑ready floor construction, steel interior walls, and an 8‑foot floor drain
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,340
Cap Rate
6.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$406,800
$406.8K
Cap Rate 7%
$290,571
$290.6K
Cap Rate 9%
$226,000
$226.0K
Market Conditions
NOI Build-Up for 1,500 SF
Gross rent
$32.9K $21.96/SF
− Vacancy
−$1.6K −$1.10/SF
EGI
$31.3K $20.86/SF
− OpEx
−$11.0K −$7.30/SF
NOI
$20.3K $13.56/SF
Area
Sherburne County, MN
Vacancy
5.00%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$406,800
Cap Rate 7%
$290,571
Cap Rate 9%
$226,000
Alternative Uses
Best Use
Flex RnD
$290.6K
$254.3K – $339.0K
NOI $20,340 @ 7.0% cap · market cap 6.78%
Second Best
Warehouse
$282.7K
$247.3K – $329.8K
NOI $19,787 @ 7.0% cap · market cap 6.60%
Theoretical Best
Office A
$357.9K
$313.1K – $417.5K
NOI $25,051 @ 7.0% cap · market cap 8.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
62
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 55309, MN
20,387
Population
7,541
Households
2.7
Avg Household Size
35
Median Age
31%
College-Educated
95%
High-School Grad
62.3 sq mi
ZIP Area
327
Density / Sq Mi
$118,387
Median Household Income
$56,262
Median Earnings
$1,463
Median Rent
$335,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Flex space - An end unit combines vehicle storage and workspace with a mezzanine, radiant heat, and a powder bath.
Where is this flex space located?
The property is located at 16765 198th Avenue NW Big Lake, MN.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: End‑unit flex space built in 2022; 60 feet deep by 25 feet wide, with a 14‑foot‑by‑14‑foot overhead door; Concrete flooring, lift‑ready floor construction, steel interior walls, and an 8‑foot floor drain
