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    Industrial Space Available For Lease Title is generated by Realmo AI

    23823 67th Ave, MN

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    Industrial property featuring warehouse and flex space for lease.

    Type:INDUSTRIAL
    Property size:
    16,620 SF
    Lot size:
    3.49 Acres
    Price / SF:
    $141/SF
    Added:
    Aug 14, 2025
    Days on Market:
    327
    Last Refresh:
    May 20 at 8:32 pm

    Property Features for 23823 67th Ave

    General Information

    Standard status
    Active
    Size
    16,620 SF
    Lot size
    3.49 Acres
    Property subtype
    INDUSTRIAL

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    Eric O'Brien
    Eric O'Brien

    Listing office Commercial Realty Solutions LLC

    Listing date Aug 14, 2025

    Source Moodyscre

    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

    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.
    • Functional warehouse features including (4) Drive‑In Doors and (2) Dock Doors.
    • Substantial Building Size (20,340/sf) on a large Lot Size (3.49 Acres).
    • Ample Parking with 40+ spaces.

    Overview

    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.

    Local Financial Insights For Flex RnD

    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 $269.2k $16.20
    − Vacancy −$18.8k −$1.13
    EGI $250.4k $15.07
    − OpEx −$87.6k −$5.27
    NOI $162.8k $9.79
    16,620 SF · lease $16.20/SF/yr · vacancy 7.00% · expense 35.00%

    Alternative Uses

    Best Use
    Flex RnD
    $2.33M
    $2.03M – $2.71M (±1% cap)
    NOI $162,758 @ 7.0% cap · market cap 6.94%
    Second Best
    Warehouse
    $2.30M
    $2.01M – $2.68M (±1% cap)
    NOI $160,983 @ 7.0% cap · market cap 6.86%
    Theoretical Best
    Office A
    $4.13M
    $3.61M – $4.82M (±1% cap)
    NOI $289,100 @ 7.0% cap · market cap 12.33%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Flex space

    Map

    City
    County
    Sherburne
    State
    Minnesota
    Longitude
    -94.2495603
    Latitude
    45.4692575

    FAQs

    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.
    (612) 281-4163 Call to check price and availability
    More about this property
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