Workshop with Development
For Sale
Contact for pricing
17121 Huber Ave NW, Clearwater, MN 55320
Workshop building includes in-floor heat and a 3/4 bath, with land currently zoned agricultural.
Property Size3,600 SF
Price / SF$208.31
Days on Market200
Property Features for 17121 Huber Ave NW
General Information
Standard status
Active
Size
3,600 SF
Property subtype
INDUSTRIAL
Zoning
Agricultural
Additional Details
Highway Access
Yes
Building Details
Year Built
1996
Listing Agency:
Rice Real Estate Services, LLC
(612) 242-4869
Listed By:
Ben Copperthite
(612) 242-4869
Source:
Moodyscre
Added: Jan 19
Changed: Jul 26
Last Checked: Jul 26 at 3:32PM
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 Rice Real Estate Services, LLC
Investment Insights
Based on property information with market context.
This offering features a workshop built in 1996 with a 3/4 bath and approximately 2,400 SF of in-floor heat. The property is listed with land, and the existing improvements support a variety of light-use possibilities while the site is held for potential future plans.
The property is located close to I-94. Current zoning is agricultural.
The combination of an existing heated workshop and agricultural zoning provides flexibility for buyers evaluating near-term use versus future commercial development opportunities.
The property is located close to I-94. Current zoning is agricultural.
The combination of an existing heated workshop and agricultural zoning provides flexibility for buyers evaluating near-term use versus future commercial development opportunities.
Key Highlights
- Workshop built in 1996 with a 3/4 bath
- Building includes 2,400 SF with in‑floor heat
- Land is currently zoned agricultural
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$48,817
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.51%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$976,340
$976.3K
Cap Rate 7%
$697,386
$697.4K
Cap Rate 9%
$542,411
$542.4K
Market Conditions
NOI Build-Up for 3,600 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$79.1K $21.96/SF
− Vacancy
−$4.0K −$1.10/SF
EGI
$75.1K $20.86/SF
− OpEx
−$26.3K −$7.30/SF
NOI
$48.8K $13.56/SF
Area
Wright 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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$976,340
Cap Rate 7%
$697,386
Cap Rate 9%
$542,411
Alternative Uses
Best Use
Flex RnD
$697.4K
$610.2K – $813.6K
NOI $48,817 @ 7.0% cap · market cap 6.51%
Second Best
Industrial
$558.7K
$488.9K – $651.8K
NOI $39,109 @ 7.0% cap · market cap 5.22%
Theoretical Best
Office A
$858.9K
$751.5K – $1.00M
NOI $60,122 @ 7.0% cap · market cap 8.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 55320, MN
5,072
Population
2,253
Households
2.3
Avg Household Size
41
Median Age
28%
College-Educated
97%
High-School Grad
48.8 sq mi
ZIP Area
104
Density / Sq Mi
$109,242
Median Household Income
$52,409
Median Earnings
$1,130
Median Rent
$307,200
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Workshop building includes in-floor heat and a 3/4 bath, with land currently zoned agricultural.
Where is this flex space located?
The property is located at 17121 Huber Ave NW Clearwater, MN.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: Workshop built in 1996 with a 3/4 bath; Building includes 2,400 SF with in‑floor heat; Land is currently zoned agricultural
