23235 Anderson Boulevard, Merrifield, MN 56465

Building Details

Buildings 1 More

Construction pole building More

Listing Agency: Edina Realty, Inc.

Listed By: Brad Wadsten Show Phone

Source: Lyndsaylanemn

Added: Oct 27, 2025 Changed: Oct 29 Last Checked: Nov 8 at 9:22AM

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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 Edina Realty, Inc.

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Investment Insights

Based on property information with market context.

This warehouse measures 40 feet by 64 feet and has 16-foot sidewalls. Insulation and interior steel wall panels finish the building, while a propane-fired boiler supplies in-floor heat. The 16-foot-wide by 14-foot-high overhead door is insulated and powered, supporting access to the interior for storage or workshop use.

The property encompasses 2.7 acres in the lakes area. Additional building space may be added, according to the property information.

Key Highlights

• 40' x 64' pole building with 16' sidewalls
• 2.7‑acre property in the lakes area
• 16' wide by 14' high insulated, powered overhead door

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$18,214

Cap Rate

6.53%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$364,280 $364.3K

Cap Rate 7%

$260,200 $260.2K

Cap Rate 9%

$202,378 $202.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,560 SF

Gross rent

$22.3K $8.71/SF

− Vacancy

−$870 −$0.34/SF

EGI

$21.4K $8.37/SF

− OpEx

−$3.2K −$1.26/SF

NOI

$18.2K $7.11/SF

Area

Crow Wing County, MN

Vacancy

3.90%

Lease Rate

$8.71 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$364,280

Cap Rate 7%

$260,200

Cap Rate 9%

$202,378

Alternative Uses

Best Use

Warehouse

$260.2K

$227.7K – $303.6K (±1% cap)

NOI $18,214 @ 7.0% cap · market cap 6.53%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$543.5K

$475.6K – $634.1K (±1% cap)

NOI $38,044 @ 7.0% cap · market cap 13.64%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Warehouses

Suggested Use

Top Pick Storage Facility Bed & Breakfast Hotel & Motel

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

5

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 56465, MN

2,221

Population

1,749

Households

1.3

Avg Household Size

52

Median Age

32%

College-Educated

94%

High-School Grad

38.5 sq mi

ZIP Area

58

Density / Sq Mi

$70,417

Median Household Income

$34,412

Median Earnings

$1,598

Median Rent

$324,500

Median Home Value

Market

Properties on Market for Warehouses in Crow Wing County

Jul

Aug

Sep

Oct

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Similar Off Market Nearby

• Anderson All Storage — 23226 anderson blvd, merrifield, mn 56465

Frequently Asked Questions

What type of property is this?

Warehouse - A propane-fired boiler serves the heated floor, and the building has an insulated powered overhead door.

Where is this warehouse located?

The property is located at 23235 Anderson Boulevard Merrifield, MN.

What is the asking price?

The asking price for this property is $279,000.

What are key features of this property?

This property features: 40' x 64' pole building with 16' sidewalls; 2.7‑acre property in the lakes area; 16' wide by 14' high insulated, powered overhead door