FlexSpace Storage Units For
For Sale
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222nd St W, Lakeville, MN
FlexSpace storage units suitable for various uses, coming in 2026.
Property Size1,125 SF
Lot Size20.02 Acres
Price / SF$173.33
Days on Market289
Property Features for 222nd St W
General Information
Standard status
Active
Size
1,125 SF
Lot size
20.02 Acres
Property subtype
INDUSTRIAL
Listing Agency:
Obsidian Group
(507) 581-3479
Listed By:
Ethan Finger
(507) 581-3479
Source:
Moodyscre
Added: Nov 3, 2025
Changed: Jul 10
Last Checked: Aug 19 at 10:23AM
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 Obsidian Group
Investment Insights
Based on property information with market context.
FlexSpace storage units are available for purchase, offering versatile solutions for car enthusiasts, mechanics, hobbyists, and business owners. These units can be used for storing RVs or boats, providing remote office space, or simply offering additional storage. Midwest FlexSpace Lakeville is upcoming, with 98 units planned for completion in 2026.
Key Highlights
- Versatile FlexSpace units ideal for RV/boat storage, remote office, or extra storage.
- Ideal for car enthusiasts, mechanics, hobbyists, and business owners.
- New units coming to Lakeville in 2026.
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
$12,222
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
6.27%
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%
$244,440
$244.4K
Cap Rate 7%
$174,600
$174.6K
Cap Rate 9%
$135,800
$135.8K
Market Conditions
NOI Build-Up for 1,125 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
$18.2K $16.20/SF
− Vacancy
−$765 −$0.68/SF
EGI
$17.5K $15.52/SF
− OpEx
−$5.2K −$4.66/SF
NOI
$12.2K $10.86/SF
Area
Dakota County, MN
Vacancy
4.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
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%
$244,440
Cap Rate 7%
$174,600
Cap Rate 9%
$135,800
Alternative Uses
Best Use
Industrial
$174.6K
$152.8K – $203.7K
NOI $12,222 @ 7.0% cap · market cap 6.27%
Second Best
Self Storage
$153.9K
$134.7K – $179.6K
NOI $10,773 @ 7.0% cap · market cap 5.52%
Theoretical Best
Healthcare Medical
$276.8K
$242.2K – $323.0K
NOI $19,379 @ 7.0% cap · market cap 9.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
13
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Self storage facility - FlexSpace storage units suitable for various uses, coming in 2026.
Where is this self storage facility located?
The property is located at 222nd St W Lakeville, MN.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: Versatile FlexSpace units ideal for RV/boat storage, remote office, or extra storage.; Ideal for car enthusiasts, mechanics, hobbyists, and business owners.; New units coming to Lakeville in 2026.
