Insulated Warehouse with Heavy
For Sale
Contact for pricing
2374 Peat Plant Rd, Eveleth, MN 55734
The property combines finished interior space with heavy electrical service and large overhead doors.
Property Size7,488 SF
Price / SF$66.11
Days on Market150
Property Features for 2374 Peat Plant Rd
General Information
Standard status
Active
Size
7,488 SF
Property subtype
INDUSTRIAL
Additional Details
Heavy Power
Yes
Listing Agency:
Greg Follmer Commercial Real Estate
Listed By:
Greg Follmer · License #27078
(218) 310-0013
Source:
Moodyscre
Added: May 20
Changed: Oct 5
Last Checked: Oct 15 at 2:25AM
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 Greg Follmer Commercial Real Estate
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 7,488-square-foot warehouse features an insulated, finished interior, heavy power, and large overhead doors. The property also includes a substantial amount of land beyond the building area. Located at 2374 Peat Plant Rd in Eveleth, Minnesota, the asset offers a combination of finished space and industrial-oriented physical features within a warehouse configuration.
Key Highlights
- 7,488‑square‑foot warehouse building
- Heavy power service
- Insulated, finished interior
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,965
Cap Rate
7.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$719,300
$719.3K
Cap Rate 7%
$513,786
$513.8K
Cap Rate 9%
$399,611
$399.6K
Market Conditions
NOI Build-Up for 7,488 SF
Gross rent
$44.0K $5.88/SF
− Vacancy
−$1.7K −$0.23/SF
EGI
$42.3K $5.65/SF
− OpEx
−$6.3K −$0.85/SF
NOI
$36.0K $4.80/SF
Area
St. Louis County, MN
Vacancy
3.90%
Lease Rate
$5.88 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$719,300
Cap Rate 7%
$513,786
Cap Rate 9%
$399,611
Alternative Uses
Best Use
Warehouse
$513.8K
$449.6K – $599.4K
NOI $35,965 @ 7.0% cap · market cap 7.27%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.90M
$2.54M – $3.39M
NOI $203,330 @ 7.0% cap · market cap 41.08%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
13
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 55734, MN
5,964
Population
3,516
Households
1.7
Avg Household Size
46
Median Age
25%
College-Educated
96%
High-School Grad
78.2 sq mi
ZIP Area
76
Density / Sq Mi
$65,750
Median Household Income
$47,015
Median Earnings
$851
Median Rent
$143,700
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
Similar Off Market Nearby
- McRae's Ideal Storage LLC — 2492 Old Hwy 53, Eveleth, MN 55734
Frequently Asked Questions
What type of property is this?
Warehouse - The property combines finished interior space with heavy electrical service and large overhead doors.
Where is this warehouse located?
The property is located at 2374 Peat Plant Rd Eveleth, MN.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 7,488‑square‑foot warehouse building; Heavy power service; Insulated, finished interior
