Stand-Alone Industrial Facility with
2343 135th Ln NW Andover, MN 55304
2343 135th Ln NW, Andover, MN, 55304
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For Sale
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Stand-alone block industrial building with 7,000 SF and an office suite, updated HVAC, lighting, security, and loading doors.
Property Size7,000 SF
Price / SF$135
Days on Market173
Property Features for 2343 135th Ln NW
General Information
- Standard status
- Active
- Size
- 7,000 SF
- Property subtype
- INDUSTRIAL
Listing agency
Premier Commercial Properties
(763) 862-2005
Listed by
Robert (Marty) Fisher
(763) 862-2005
Source
Moodyscre
Added: Jan 30 Updated: Jul 21 at 3:19PM Checked: Jul 21 at 3:19PM
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 Premier Commercial Properties
Investment Insights
Based on property information with market context.
Stand-alone block construction industrial property built in 1995, offering approximately 7,000 square feet on approximately 1.16 acres. The building includes an office component of approximately 2,160 square feet with four private offices with glass, a large reception with built-ins, a glass-walled conference room, restrooms serving the office and warehouse areas, and a kitchenette.
Warehouse features include drive-in doors and one dock, floor drains, a fire-sprinkled system, and approximately 15’ clear height (bottom of bar joists). The warehouse is serviced with radiant heat (natural gas) and includes 400 Amps, 3-phase power. A flat rubber membrane roof is reported to have no leaks.
Updates for 2023 include new HVAC, new LED lighting, new office rooftop, and new parking lot and security systems. The property is zoned for manufacturing, service and warehouse use, and is serviced by city water and sewer. Warehouse racking is available and negotiable. Andover industrial park location provides quick access to Bunker Lake Boulevard.
Warehouse features include drive-in doors and one dock, floor drains, a fire-sprinkled system, and approximately 15’ clear height (bottom of bar joists). The warehouse is serviced with radiant heat (natural gas) and includes 400 Amps, 3-phase power. A flat rubber membrane roof is reported to have no leaks.
Updates for 2023 include new HVAC, new LED lighting, new office rooftop, and new parking lot and security systems. The property is zoned for manufacturing, service and warehouse use, and is serviced by city water and sewer. Warehouse racking is available and negotiable. Andover industrial park location provides quick access to Bunker Lake Boulevard.
Key Highlights
- Stand‑alone block industrial building on approx. 1.16 acres with approx. 7,000 SF total space
- Warehouse includes multiple access doors: one 12’ drive‑in, two 10’ drive‑in doors, and one dock
- 15’ clear height (bottom of bar joists) with fire‑sprinkled warehouse, floor drains, and radiant heat (natural gas)
Local Financial Insights For Industrial
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 | $113.4k | $16.20 |
| − Vacancy | −$4.8k | −$0.68 |
| EGI | $108.6k | $15.52 |
| − OpEx | −$32.6k | −$4.66 |
| NOI | $76.0k | $10.86 |
7,000 SF · lease $16.20/SF/yr · vacancy 4.20% · expense 30.00%
Alternative Uses
Best Use
Office B
$1.39M
$1.21M – $1.62M
NOI $97,101 @ 7.0% cap · market cap 10.28%
Second Best
Warehouse
$1.32M
$1.15M – $1.54M
NOI $92,342 @ 7.0% cap · market cap 9.77%
Theoretical Best
Office A
$1.94M
$1.70M – $2.27M
NOI $136,107 @ 7.0% cap · market cap 14.40%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
FAQs
What type of property is this?
Flex space - Stand-alone block industrial building with 7,000 SF and an office suite, updated HVAC, lighting, security, and loading doors.
Where is this flex space located?
The property is located at 2343 135th Ln NW Andover, MN.
What is the asking price?
The asking price for this property is $945,000.
What are key features of this property?
This property features: Stand‑alone block industrial building on approx. 1.16 acres with approx. 7,000 SF total space; Warehouse includes multiple access doors: one 12’ drive‑in, two 10’ drive‑in doors, and one dock; 15’ clear height (bottom of bar joists) with fire‑sprinkled warehouse, floor drains, and radiant heat (natural gas)
