Office Warehouse with Clear
21475 Heath Ave Lakeville, MN 55044
21475 Heath Ave, Lakeville, MN, 55044
Contact for pricing
For Sale
Contact for pricing
Office and warehouse building with two drive-in doors, one dock door, and 12'–16' clear height.
Property Size12,800 SF
Lot Size1.52 Acres
Price / SF$148.44
Days on Market114
Property Features for 21475 Heath Ave
General Information
- Standard status
- Active
- Size
- 12,800 SF
- Lot size
- 1.52 Acres
- Property subtype
- INDUSTRIAL
Listing agency
Cerron Commercial Properties
(952) 583-6135
Listed by
Rocky Ranch
(952) 583-6135
Source
Moodyscre
Added: Mar 30 Updated: Jul 21 at 3:05AM Checked: Jul 21 at 3:05AM
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
Investment Insights
Based on property information with market context.
This approximately 12,800 SF office warehouse building includes approximately 2,000 SF of office space and approximately 10,800 SF of warehouse area. The warehouse is supported by two drive-in doors (12’x12’ and 8’x10’) plus one dock door, with clear height ranging from 12’ to 16’. The property was built in 1979 and includes a 6,000 SF addition completed in 2011.
Located in Lakeville’s Airlake Industrial Park, the site sits on approximately 1.52 acres. The property is zoned I2 – General Industrial and is identified by Dakota County PID: 22-11101-03-160.
The offering includes a lease option. No other tenant or unit configuration details are provided in the available information.
Located in Lakeville’s Airlake Industrial Park, the site sits on approximately 1.52 acres. The property is zoned I2 – General Industrial and is identified by Dakota County PID: 22-11101-03-160.
The offering includes a lease option. No other tenant or unit configuration details are provided in the available information.
Key Highlights
- Approx. 12,800 SF office/warehouse building on 1.52 acres in Lakeville’s Airlake Industrial Park
- Includes approx. 2,000 SF office and approx. 10,800 SF warehouse space
- Two drive‑in doors (12’x12’ and 8’x10’) plus one dock door
Local Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $207.4k | $16.20 |
| − Vacancy | −$8.7k | −$0.68 |
| EGI | $198.7k | $15.52 |
| − OpEx | −$29.8k | −$2.33 |
| NOI | $168.9k | $13.19 |
12,800 SF · lease $16.20/SF/yr · vacancy 4.20% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$2.41M
$2.11M – $2.81M
NOI $168,853 @ 7.0% cap · market cap 8.89%
Second Best
Office B
$2.27M
$1.98M – $2.65M
NOI $158,776 @ 7.0% cap · market cap 8.36%
Theoretical Best
Healthcare Medical
$3.15M
$2.76M – $3.67M
NOI $220,493 @ 7.0% cap · market cap 11.60%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Tee Jay North ...
Hardware & Home Improvement
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FAQs
What type of property is this?
Flex space - Office and warehouse building with two drive-in doors, one dock door, and 12'–16' clear height.
Where is this flex space located?
The property is located at 21475 Heath Ave Lakeville, MN.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Approx. 12,800 SF office/warehouse building on 1.52 acres in Lakeville’s Airlake Industrial Park; Includes approx. 2,000 SF office and approx. 10,800 SF warehouse space; Two drive‑in doors (12’x12’ and 8’x10’) plus one dock door
