Shakopee Warehouse with Office
For Sale
Contact for pricing
230 1st Ave E, Shakopee, MN
4,125 SF warehouse with office mezzanine for sale.
Property Size4,125 SF
Lot Size0.10 Acres
Price / SF$169.45
Days on Market261
Property Features for 230 1st Ave E
General Information
Standard status
Active
Size
4,125 SF
Lot size
0.10 Acres
Property subtype
RETAIL
Listing Agency:
eXp Commercial
(612) 819-8285
Listed By:
Scott Naasz · License #40922534
(612) 819-8285
Source:
Moodyscre
Added: Nov 24, 2025
Changed: Aug 8
Last Checked: Aug 8 at 12:15PM
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 eXp Commercial
Investment Insights
Based on property information with market context.
This 4,125 square-foot property, built in 1950, features a 3,458 square-foot office mezzanine and a 667 square-foot warehouse. The property is located in Shakopee, MN, and is zoned for Central Business District use. It includes one drive-in door for loading access. The property taxes for 2025 are $7,944.00. The property is available now.
Key Highlights
- 4,125 total square feet of space
- Office mezzanine (3,458 square feet)
- Central business district zoning
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
$54,416
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
7.78%
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%
$1,088,320
$1.1M
Cap Rate 7%
$777,371
$777.4K
Cap Rate 9%
$604,622
$604.6K
Market Conditions
NOI Build-Up for 4,125 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
$66.8K $16.20/SF
− Vacancy
−$2.8K −$0.68/SF
EGI
$64.0K $15.52/SF
− OpEx
−$9.6K −$2.33/SF
NOI
$54.4K $13.19/SF
Area
Scott County, MN
Vacancy
4.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
15.00%
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%
$1,088,320
Cap Rate 7%
$777,371
Cap Rate 9%
$604,622
Alternative Uses
Best Use
Warehouse
$777.4K
$680.2K – $906.9K
NOI $54,416 @ 7.0% cap · market cap 7.78%
Second Best
Retail
$725.8K
$635.1K – $846.8K
NOI $50,805 @ 7.0% cap · market cap 7.27%
Theoretical Best
Office A
$984.1K
$861.1K – $1.15M
NOI $68,890 @ 7.0% cap · market cap 9.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
574
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Shakopee Florist — 155 1st Ave E, Shakopee, MN 55379
Frequently Asked Questions
What type of property is this?
Storefront property - 4,125 SF warehouse with office mezzanine for sale.
Where is this storefront property located?
The property is located at 230 1st Ave E Shakopee, MN.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 4,125 total square feet of space; Office mezzanine (3,458 square feet); Central business district zoning
