End-Unit Flex Space with
For Sale
$299,900
16765 198th Avenue NW #24, Big Lake, MN 55309
A gated campus combines vehicle storage and finished workspace with controlled entry, security cameras, and a community clubhouse.
Property Size1,850 SF
Price / SF$162.11
Days on Market517
Property Features for 16765 198th Avenue NW #24
General Information
Standard status
Active
Size
1,850 SF
Property subtype
Commercial
Zoning
Business/Commercial, Other
Warehouse & Industrial
Mezzanine
350 SF
Drive-In Doors
1
Power
100 amps
Additional Details
Property Use
Vehicle Storage
Taxes and HOA fees
Annual Taxes
$3,000
Amenities
Community clubhouse
Fiber optic high-speed internet
Smartphone-enabled security cameras
24/7 automated access
Building Details
Building Size
1,850 SF
Year Built
2022
Units
1
Listing Agency:
Fish MLS Realty
(763) 717-7200
Listed By:
John Olson
(763) 568-3527
Source:
Driveresultsrealty
Added: May 31, 2025
Changed: Oct 25
Last Checked: Oct 26 at 3:43AM
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 Fish MLS Realty
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Investment Insights
Based on property information with market context.
This 1,850-square-foot end-unit flex property, completed in 2022, measures 60 feet deep by 25 feet wide. A 14-by-14-foot overhead door opens to concrete flooring with footings prepared for two-post lifts and capacity for four-post lifts. The unit also has steel interior walls, an 8-foot floor drain, a powder bath, and a 14-by-25-foot mezzanine with cabinetry and commercial-grade LVT flooring. Radiant floor heat, mini-split air conditioning, and R50 ceiling insulation support year-round use. Electrical service is 100 AMP, with LED high-bay lighting and fiber-optic internet.
The property is at 16765 198th Avenue NW #24 in Big Lake, Minnesota. The gated campus provides automated access around the clock, smartphone-enabled security cameras, and a shared clubhouse. Zoning is listed as Business/Commercial, Other.
The property is at 16765 198th Avenue NW #24 in Big Lake, Minnesota. The gated campus provides automated access around the clock, smartphone-enabled security cameras, and a shared clubhouse. Zoning is listed as Business/Commercial, Other.
Key Highlights
- 1,850 square feet; 60 feet deep by 25 feet wide
- 14‑by‑14‑foot commercial overhead door
- 14‑by‑25‑foot mezzanine with built‑in cabinetry and commercial‑grade LVT flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,087
Cap Rate
8.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$501,740
$501.7K
Cap Rate 7%
$358,386
$358.4K
Cap Rate 9%
$278,744
$278.7K
Market Conditions
NOI Build-Up for 1,850 SF
Gross rent
$40.6K $21.96/SF
− Vacancy
−$2.0K −$1.10/SF
EGI
$38.6K $20.86/SF
− OpEx
−$13.5K −$7.30/SF
NOI
$25.1K $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%
$501,740
Cap Rate 7%
$358,386
Cap Rate 9%
$278,744
Alternative Uses
Best Use
Flex RnD
$358.4K
$313.6K – $418.1K
NOI $25,087 @ 7.0% cap · market cap 8.37%
Second Best
Warehouse
$348.6K
$305.1K – $406.8K
NOI $24,405 @ 7.0% cap · market cap 8.14%
Theoretical Best
Office A
$441.4K
$386.2K – $514.9K
NOI $30,896 @ 7.0% cap · market cap 10.30%
Zoning and permitted uses should be independently verified with authorities.
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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
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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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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - A gated campus combines vehicle storage and finished workspace with controlled entry, security cameras, and a community clubhouse.
Where is this flex space located?
The property is located at 16765 198th Avenue NW #24 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: 1,850 square feet; 60 feet deep by 25 feet wide; 14‑by‑14‑foot commercial overhead door; 14‑by‑25‑foot mezzanine with built‑in cabinetry and commercial‑grade LVT flooring
