Retail-Flex Building with
For Sale
$699,000
230 1st Ave E, Shakopee, MN 55379
Downtown storefront with rear access and a back warehouse area with a drive-in door.
Property Size4,125 SF
Price / SF$169.45
Days on Market317
Property Features for 230 1st Ave E
General Information
Standard status
Active
Size
4,125 SF
Zoning
B3
Additional Details
Drive-In Doors
1
Listing Agency:
North Star Commercial
Listed By:
Scott Naasz · License #40922534
(612) 819-8285
Source:
Expcommercial
Added: Dec 3, 2025
Changed: Oct 16
Last Checked: Oct 16 at 5:36AM
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 North Star Commercial
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Investment Insights
Based on property information with market context.
Located in downtown Shakopee, this commercial flex building includes a welcoming storefront entrance on 1st Avenue and a rear access point for operational flexibility. The layout combines front retail/office/creative space with approximately 667 square feet designated for warehouse use at the back.
The warehouse portion includes 1 drive-in door, supporting deliveries, storage, or service workflows tied to the rear of the building. The property sits within a vibrant business district surrounded by local shops, restaurants, and community amenities, providing both foot and vehicle traffic.
Overall, the building’s flexible design and mixed storefront-and-warehouse configuration make it suited to a range of uses, including retail, office, or creative mixed-use concepts.
The warehouse portion includes 1 drive-in door, supporting deliveries, storage, or service workflows tied to the rear of the building. The property sits within a vibrant business district surrounded by local shops, restaurants, and community amenities, providing both foot and vehicle traffic.
Overall, the building’s flexible design and mixed storefront-and-warehouse configuration make it suited to a range of uses, including retail, office, or creative mixed-use concepts.
Key Highlights
- Approximately 4,125 sq ft commercial building in downtown Shakopee.
- Storefront entrance on 1st Avenue East with convenient rear access point for operations.
- Includes 667 sq ft of warehouse space with 1 drive‑in door.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,416
Cap Rate
7.78%
Suggested Prices Based on Cap Rates
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
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 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
Flex RnD
$655.0K
$573.1K – $764.2K
NOI $45,849 @ 7.0% cap · market cap 6.56%
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.
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Property Analytics
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Current Use
Lease Details
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
574
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 55379, MN
48,254
Population
18,028
Households
2.7
Avg Household Size
35
Median Age
40%
College-Educated
93%
High-School Grad
57.9 sq mi
ZIP Area
833
Density / Sq Mi
$109,824
Median Household Income
$55,390
Median Earnings
$1,540
Median Rent
$366,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - Downtown storefront with rear access and a back warehouse area with a drive-in door.
Where is this flex space 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: Approximately 4,125 sq ft commercial building in downtown Shakopee.; Storefront entrance on 1st Avenue East with convenient rear access point for operations.; Includes 667 sq ft of warehouse space with 1 drive‑in door.
