Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    21021 Heron Way Lakeville, MN

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $13 SF/Yr

    Office/warehouse suites available for lease, approximately 3,000 SF each.

    Type:INDUSTRIAL
    Property size:
    3,000 SF
    Lot size:
    2.42 Acres
    Added:
    Sep 22, 2025
    Days on Market:
    192
    Last Refresh:
    Mar 29 at 8:53 pm

    Property Features for 21021 Heron Way

    General Information

    Standard status
    Active
    Size
    3,000 SF
    Lot size
    2.42 Acres
    Property subtype
    INDUSTRIAL

    Spaces For Lease

    at 21021 Heron Way Contact us

    We can help!

    Listing Contact
    Rocky Ranch

    Listing agent Rocky Ranch

    Listing office Cerron Commercial Properties

    Listing date Sep 22, 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 Cerron Commercial Properties

    Overview

    Office/Warehouse Suites Available for Lease

    Four office/warehouse suites are available for lease, each approximately 3,000 square feet. Each suite includes approximately 2,200 square feet of warehouse space and approximately 800 square feet of office space. Suites 104, 105, 106, and 107 each feature two private offices, a reception area, and a restroom, in addition to the warehouse space. Each unit has either one dock door or one drive-in door.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Print Solutions (Bike/Boat/Book/etc) Store Simon Distributing Distribution Center D B Card ... Event Planning Franklin Outdoor Services Landscaping Apex Companies, LLC Environmental Consultant

    Suggested Use

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

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

    Similar Places Nearby

    • Public Storage — 21002 Heron Way, Lakeville, MN 55044
    • Reliable Mini Storage, LLC — 8252 210th st w, lakeville, mn 55044
    • Airlake Storage — 21470 Grenada Ave, Lakeville, MN 55044

    Location Insight

    • Map
    • Local Demand
    City
    Lakeville
    County
    Dakota
    State
    Minnesota
    Longitude
    -93.2323
    Latitude
    44.6426

    Nearby Similar for Lease

    • Sponsored
      Contact for pricing

      MN, Lakeville - Holyoke Ave

      20731 Holyoke Ave, Unit 1ST, Lakeville, MN 55044
      View Details
    • $9/mo

      Lakeville Warehouse/Office Space Available

      8,861 SF warehouse with office space for lease.
      21044 Heron Way, Lakeville, MN
      View Details
    • $7/mo

      Lakeville Warehouse Space Available

      Warehouse space available in Lakeville, approximately 75,000-96,513 square feet.
      8235 220th Street West, Lakeville, MN, 55044
      View Details
    • $8/mo

      Lakeville Warehouse with Shared Access

      4,680 SF warehouse space with shared dock and drive-in.
      7870 215th St W, Lakeville, MN
      View Details
    • $14/mo

      Downtown Lakeville Two-Story Building

      Two-story building in the heart of Downtown Lakeville.
      20757 Holyoke Ave, Lakeville, MN
      View Details
    • Contact for pricing

      Retail Space in Lakeville Center

      Retail space available in established Lakeville shopping center.
      20176-20184 Heritage Dr, Lakeville, MN
      View Details
    • $15/mo

      Professional Office Building For Rent

      Professional office building with elevator access and ample parking.
      17685 Juniper Path, Lakeville, MN
      View Details
    • Contact for pricing

      New Retail/Medical Building For Rent

      New construction retail/medical building delivering Spring 2026.
      Pilot Knob Rd & 160th St W, Lakeville, MN
      View Details
    • Contact for pricing

      Retail Space Available For Lease

      892 SF in-line retail space suitable for various users.
      17551-17671 Glasgow Ave, Lakeville, MN
      View Details
    • Contact for pricing

      Lakeville Warehouse Space Available

      Large warehouse space available for lease in Lakeville, Minnesota.
      10655 215th St W, Lakeville, MN
      View Details
    • $18/mo

      Retail Space Near I-35

      Retail space available for lease near I-35.
      16350 Kenrick Loop Near I-35, Lakeville, MN 55044
      View Details
    • Contact for pricing

      Office and Industrial Space Available

      Office and industrial space for rent, 7,383 SqFt available.
      21025 Heron Way, Lakeville, MN 55044
      View Details

    FAQs

    What type of property is this?
    Warehouse - Office/warehouse suites available for lease, approximately 3,000 SF each.
    Where is this warehouse located?
    The property is located at 21021 Heron Way Lakeville, MN.
    What is the lease rate?
    The lease rate is $13 SF/Yr.
    What are key features of this property?
    This property features: Four office/warehouse suites available for lease (approx. 3,000 SF each).; Each suite includes approximately 2,200 SF of warehouse space and 800 SF of office space.; Each unit contains two private offices, a reception area, and a restroom.
    (952) 583-6135
    We can help!
    Listing Contact
    Rocky Ranch
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!