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    Industrial Warehouse with Crane Systems Title is generated by Realmo AI

    1800 Riverview Dr, Northfield, MN

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    High-performing industrial warehouse with modern office space on 6.3 acres.

    Type:INDUSTRIAL
    Property size:
    67,930 SF
    Lot size:
    6.30 Acres
    Price / SF:
    $79/SF
    Added:
    Nov 23, 2025
    Days on Market:
    179
    Last Refresh:
    Apr 5 at 8:07 pm

    Property Features for 1800 Riverview Dr

    General Information

    Standard status
    Active
    Size
    67,930 SF
    Lot size
    6.30 Acres
    Property subtype
    INDUSTRIAL

    Properties For Sale

    at 1800 Riverview Dr Contact us

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    Listing Contact
    Theresa Hart

    Listing agent Theresa Hart

    Listing office Meyer Realty

    Listing date Nov 23, 2025

    Source Moodyscre

    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 Meyer Realty

    HighLights

    • High 34' ceiling and multiple drive‑in/drive‑through bays
    • Substantial 58,970 SF warehouse and 8,960 SF office on 6.3 acres
    • Heavy‑duty overhead cranes (2x20‑ton, 2x10‑ton, and 2x5‑ton per bay)
    • Upgraded electrical system (800 amps 3 phase) and radiant heated floors with in‑floor drains
    • Modernized office space with 13 private offices, 3 conference rooms, cubicle area, and upgraded break room
    • Recent upgrades (2023) and multiple updates since built in 2000

    Overview

    This high-performing industrial warehouse property is located 30 minutes from the Twin Cities. Situated on 6.3 acres, the 67,930 square feet facility includes 58,970 square feet of warehouse space and 8,960 square feet of office space, along with an outdoor area for maneuvering and storage. The two-story office space features a reception area, 13 private offices, 3 conference rooms, a 14-16 cubicle area, and two sets of restrooms. The employee break room has been expanded and modernized with state-of-art vending food machines. The property features a maximum ceiling height of 34 feet with 13 drive-ins and 3 drive-through bays measuring 60x140 and 75x150. It also includes overhead cranes with 2x20-ton, 2x10-ton, and 2x5-ton capacity per bay. The property has upgraded 800 amps 3 phase power, radiant heated floors with in-floor drains, multiple HVAC systems, 2" compressed air lines, 2 central pressure washers, and a sprinkler wet system. Upgraded LED lighting is installed throughout the entire building. New flooring and carpet have been installed throughout the offices. Constructed in 2000, the property has been updated in 2006, 2010, 2013, and 2023.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Manufacturing properties

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Southgate Mini Storage — 1200 MN-3, Northfield, MN 55057
    • Self Storage Dundas — 709 Schilling Dr, Dundas, MN 55019

    Location Insight

    • Map
    • Local Demand
    City
    Northfield
    County
    Rice
    State
    Minnesota
    Longitude
    -93.1887
    Latitude
    44.4409

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    FAQs

    What type of property is this?
    Warehouse - High-performing industrial warehouse with modern office space on 6.3 acres.
    Where is this warehouse located?
    The property is located at 1800 Riverview Dr Northfield, MN.
    What is the asking price?
    The asking price for this property is $5,399,999.
    What are key features of this property?
    This property features: High 34' ceiling and multiple drive‑in/drive‑through bays; Substantial 58,970 SF warehouse and 8,960 SF office on 6.3 acres; Heavy‑duty overhead cranes (2x20‑ton, 2x10‑ton, and 2x5‑ton per bay)
    (612) 840-3226 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Theresa Hart
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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