Flex Space with Storefront and
230 1st Avenue E Shakopee, MN 55379
For Sale
$699,000
Versatile downtown building with a storefront entrance, rear access, and a drive-in door warehouse area.
Property Size4,125 SF
Price / SF$169.45
Days on Market168
Property Features for 230 1st Avenue E
General Information
Standard status
Active
Size
4,125 SF
Property subtype
Commercial
Building Details
Year Built
1950
Listing Agency:
eXp Realty
(612) 532-7445
Listed By:
Bonnie H. Nguyen
(612) 532-7445
Source:
Juverealestate
Added: Feb 11
Changed: Jul 27
Last Checked: Jul 28 at 5:56PM
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 Realty
Investment Insights
Based on property information with market context.
This approximately 4,125 SF commercial building offers a versatile setup for a range of uses. The property includes a storefront entrance along 1st Avenue E and rear access for added convenience. In addition, there is approximately 667 SF of warehouse space featuring a drive-in door, supporting storage or light industrial needs.
Located in downtown Shakopee, the building is positioned to benefit from consistent foot and vehicle traffic. The interior layout is described as flexible, supporting creative mixed-use concepts as well as retail or office use.
Available for sale or for lease, the seller indicates openness to Contract for Deed financing. This combination of storefront presence and warehouse functionality provides practical flexibility for an owner-user or investor seeking adaptable space within a downtown setting.
Located in downtown Shakopee, the building is positioned to benefit from consistent foot and vehicle traffic. The interior layout is described as flexible, supporting creative mixed-use concepts as well as retail or office use.
Available for sale or for lease, the seller indicates openness to Contract for Deed financing. This combination of storefront presence and warehouse functionality provides practical flexibility for an owner-user or investor seeking adaptable space within a downtown setting.
Key Highlights
- Approximately 4,125 SF commercial building with a storefront entrance on 1st Avenue in downtown Shakopee
- Flexible interior layout suited for retail, office, or creative mixed‑use concepts
- Includes approximately 667 SF warehouse space with a drive‑in door for storage, operations, or light industrial use
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 | $66.8k | $16.20 |
| − Vacancy | −$2.8k | −$0.68 |
| EGI | $64.0k | $15.52 |
| − OpEx | −$9.6k | −$2.33 |
| NOI | $54.4k | $13.19 |
4,125 SF · lease $16.20/SF/yr · vacancy 4.20% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$777.4K
$680.2K – $906.9K
NOI $54,416 @ 7.0% cap · market cap 7.78%
Second Best
Office B
$731.0K
$639.6K – $852.8K
NOI $51,168 @ 7.0% cap · market cap 7.32%
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
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Flex space - Versatile downtown building with a storefront entrance, rear access, and a drive-in door warehouse area.
Where is this flex space located?
The property is located at 230 1st Avenue 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 SF commercial building with a storefront entrance on 1st Avenue in downtown Shakopee; Flexible interior layout suited for retail, office, or creative mixed‑use concepts; Includes approximately 667 SF warehouse space with a drive‑in door for storage, operations, or light industrial use
