Flex Retail-Office Building with
230 1st Ave E, Shakopee, MN 55379
For Sale
Contact for pricing
Commercial building with storefront front access plus rear access and a 667 sq ft warehouse with a drive-in door.
Property Size4,125 SF
Price / SF$145.21
Days on Market344
Property Features for 230 1st Ave E
General Information
Standard status
Size
Property subtype
Additional Details
Drive-In Doors
Listing Agency:
eXp Commercial
(612) 554-4773
Listed By:
Scott Naasz · License MN #40922534
(612) 819-8285
Source:
Moodyscre
Added: Dec 2, 2025
Changed: Nov 4
Last Checked: Nov 8 at 7:56AM
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
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Investment Insights
Based on property information with market context.
This approximately 4,125-square-foot commercial building offers a storefront entrance along 1st Avenue East along with a rear access point for added flexibility. The layout supports a range of uses, including retail, office, or creative mixed use concepts. A dedicated 667-square-foot warehouse area is located toward the back and includes 1 drive-in door.
Set in downtown Shakopee, the property is positioned for visibility and accessibility in a thriving business district. The location also provides proximity to a new amphitheater, reported as about 7 minutes away, supporting both foot and vehicle traffic.
The building’s practical configuration combines a front-facing customer entry with rear functionality and an in-place warehouse component, making it well suited for businesses that need both showroom and light storage operations.
Set in downtown Shakopee, the property is positioned for visibility and accessibility in a thriving business district. The location also provides proximity to a new amphitheater, reported as about 7 minutes away, supporting both foot and vehicle traffic.
The building’s practical configuration combines a front-facing customer entry with rear functionality and an in-place warehouse component, making it well suited for businesses that need both showroom and light storage operations.
Key Highlights
- Approximately 4,125 sq ft commercial building with storefront front access on 1st Avenue E
- Front and rear access points for flexible use across retail, office, or creative concepts
- Includes 667 sq ft warehouse space at the rear
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,679
Cap Rate
8.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$993,580
$993.6K
Cap Rate 7%
$709,700
$709.7K
Cap Rate 9%
$551,989
$552.0K
Market Conditions
NOI Build-Up for 4,125 SF
Gross rent
$76.7K $18.60/SF
− Vacancy
−$5.8K −$1.40/SF
EGI
$71.0K $17.21/SF
− OpEx
−$21.3K −$5.16/SF
NOI
$49.7K $12.04/SF
Area
Scott County, MN
Vacancy
7.50%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$993,580
Cap Rate 7%
$709,700
Cap Rate 9%
$551,989
Alternative Uses
Best Use
Retail
$709.7K
$621.0K – $828.0K
NOI $49,679 @ 7.0% cap · market cap 8.29%
Second Best
Flex RnD
$655.0K
$573.1K – $764.2K
NOI $45,849 @ 7.0% cap · market cap 7.65%
Theoretical Best
Office A
$984.1K
$861.1K – $1.15M
NOI $68,890 @ 7.0% cap · market cap 11.50%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
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
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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 - Commercial building with storefront front access plus rear access and a 667 sq ft warehouse 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 $599,000.
What are key features of this property?
This property features: Approximately 4,125 sq ft commercial building with storefront front access on 1st Avenue E; Front and rear access points for flexible use across retail, office, or creative concepts; Includes 667 sq ft warehouse space at the rear
