Listing Agency: eXp Realty m***@exprealty.net Show Phone

Listed By: Jesse Penman · License #81152-94 Show Phone

Source: Exprealty

Added: Oct 2 Changed: Oct 10 Last Checked: Oct 10 at 2:25AM

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Investment Insights

Based on property information with market context.

This 2,780-square-foot flex condominium combines finished office space with an attached warehouse. The office portion includes an entry, showroom or reception area, multiple private offices, a kitchen, a conference room or additional office, and an oversized restroom. The warehouse offers 21-foot clear height and a large overhead door, with room for storage, equipment, work vans, or larger vehicles.

Located in Pointe Douglas Business Center in Cottage Grove, the property has exposure to Hwy 61/10 and convenient freeway access. Ample parking serves the site.

Key Highlights

• 2,780‑square‑foot office and warehouse condominium
• 21‑foot clear height in the attached warehouse
• Office area includes multiple private offices, kitchen, conference room or additional office, and oversized restroom

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$31,062

Cap Rate

8.87%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$621,240 $621.2K

Cap Rate 7%

$443,743 $443.7K

Cap Rate 9%

$345,133 $345.1K

Market Conditions

NOI Build-Up for 2,780 SF

Gross rent

$50.0K $18.00/SF

− Vacancy

−$2.3K −$0.81/SF

EGI

$47.8K $17.19/SF

− OpEx

−$16.7K −$6.02/SF

NOI

$31.1K $11.17/SF

Area

Washington County, MN

Vacancy

4.50%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$621,240

Cap Rate 7%

$443,743

Cap Rate 9%

$345,133

Alternative Uses

Best Use

Warehouse

$523.9K

$458.4K – $611.2K (±1% cap)

NOI $36,673 @ 7.0% cap · market cap 10.48%

Second Best

Flex RnD

$443.7K

$388.3K – $517.7K (±1% cap)

NOI $31,062 @ 7.0% cap · market cap 8.87%

Theoretical Best

Office A

$772.2K

$675.7K – $900.9K (±1% cap)

NOI $54,054 @ 7.0% cap · market cap 15.44%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency Restaurant Building Supply Big Box & Wholesale Store Spa & Massage Center Hair Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

21 ft

Clear height

1

Drive-in doors

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

86

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 55016, MN

38,427

Population

13,953

Households

2.8

Avg Household Size

37

Median Age

39%

College-Educated

95%

High-School Grad

30.1 sq mi

ZIP Area

1,277

Density / Sq Mi

$121,295

Median Household Income

$61,724

Median Earnings

$1,653

Median Rent

$358,800

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Flex space - Finished offices, showroom space, and an attached warehouse provide a combined setting for administrative and operational functions.

Where is this flex space located?

The property is located at 170-8617 W Point Douglas Rd S Cottage Grove, MN.

What is the asking price?

The asking price for this property is $349,995.

What are key features of this property?

This property features: 2,780‑square‑foot office and warehouse condominium; 21‑foot clear height in the attached warehouse; Office area includes multiple private offices, kitchen, conference room or additional office, and oversized restroom