Industrial Space Available For
For Sale
Contact for pricing
23823 67th Ave, MN
Industrial property featuring warehouse and flex space for lease.
Property Size16,620 SF
Lot Size3.49 Acres
Price / SF$141.10
Days on Market425
Property Features for 23823 67th Ave
General Information
Standard status
Active
Size
16,620 SF
Lot size
3.49 Acres
Property subtype
INDUSTRIAL
Listing Agency:
Commercial Realty Solutions LLC
(763) 682-2400
Listed By:
Eric O'Brien
(612) 281-4163
Source:
Moodyscre
Added: Aug 14, 2025
Changed: Sep 11
Last Checked: Oct 11 at 7:22AM
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 Commercial Realty Solutions LLC
Investment Insights
Based on property information with market context.
This industrial property offers warehouse and flex space available for lease. The building, constructed in 2006, has a total size of 20,340 square feet, with 16,620 square feet of space available. The minimum divisible space is 9,420 square feet, with flex up options of 3,600 square feet each. The property is situated on a 3.49-acre lot and is zoned I-1 Industrial. The building features office space heated by a forced air furnace and warehouse space heated by Reznor units. The space includes five private offices, a conference room, and a breakroom, along with two restrooms. Shop floor drains with an oil separator are present. There are six overhead doors, four drive-in doors (14' x 14'), and two dock doors (12' x 12'). The clear height is 16 feet. The property has 40+ parking spaces. A tenant occupies 10,856 square feet until August 2028, with two renewal options.
Key Highlights
- Tenant in place until August 2028 with renewal options provides immediate income.
- I‑1 Industrial Zoning allows for a wide range of business operations.
- Significant Space Available (16,620/sf) with flexible division options.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$162,758
Cap Rate
6.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,255,160
$3.3M
Cap Rate 7%
$2,325,114
$2.3M
Cap Rate 9%
$1,808,422
$1.8M
Market Conditions
NOI Build-Up for 16,620 SF
Gross rent
$269.2K $16.20/SF
− Vacancy
−$18.8K −$1.13/SF
EGI
$250.4K $15.07/SF
− OpEx
−$87.6K −$5.27/SF
NOI
$162.8K $9.79/SF
Area
MN
Vacancy
7.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,255,160
Cap Rate 7%
$2,325,114
Cap Rate 9%
$1,808,422
Alternative Uses
Best Use
Flex RnD
$2.33M
$2.03M – $2.71M
NOI $162,758 @ 7.0% cap · market cap 6.94%
Second Best
Warehouse
$2.30M
$2.01M – $2.68M
NOI $160,983 @ 7.0% cap · market cap 6.86%
Theoretical Best
Office A
$4.13M
$3.61M – $4.82M
NOI $289,100 @ 7.0% cap · market cap 12.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
45
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Storage Rentals of America — 6719 Gregory Park Rd, St Cloud, MN 56301
Frequently Asked Questions
What type of property is this?
Warehouse - Industrial property featuring warehouse and flex space for lease.
Where is this warehouse located?
The property is located at 23823 67th Ave MN.
What is the asking price?
The asking price for this property is $2,345,000.
What are key features of this property?
This property features: Tenant in place until August 2028 with renewal options provides immediate income.; I‑1 Industrial Zoning allows for a wide range of business operations.; Significant Space Available (16,620/sf) with flexible division options.
