B-2 Zoned Flex
For Sale
$250,000
26545 Drew Avenue, Elko New Market, MN 55020
Cinder block commercial building with HVAC, additional power capacity, and parking for customer and employee use.
Property Size1,974 SF
Price / SF$126.65
Days on Market66
Property Features for 26545 Drew Avenue
General Information
Standard status
Active
Size
1,974 SF
Property subtype
Commercial
Zoning
B-2
Amenities
heating and air conditioning
additional power capacity
Building Details
Building Size
1,974 SF
Year Built
1970
Construction
cinder block
Listing Agency:
Kris Lindahl Real Estate
(763) 292-4455
Listed By:
Kris Lindahl
(763) 292-4455
Source:
Juverealestate
Added: May 27
Changed: Jul 31
Last Checked: Jul 31 at 6:43PM
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 Kris Lindahl Real Estate
Investment Insights
Based on property information with market context.
This commercial flex space is a solid cinder block building with heating and air conditioning, additional power capacity, and a large parking area with extra spaces. The layout offers flexibility for office, retail, service, recreation, and other business uses supported by the property’s zoning.
Located at 26545 Drew Avenue in Elko New Market, the property is zoned B-2. Permitted uses identified for the site include professional offices, salons, medical clinics, restaurants, retail establishments, gyms, studios, laundromats, repair services, animal grooming, and other service-based operations.
Located at 26545 Drew Avenue in Elko New Market, the property is zoned B-2. Permitted uses identified for the site include professional offices, salons, medical clinics, restaurants, retail establishments, gyms, studios, laundromats, repair services, animal grooming, and other service-based operations.
Key Highlights
- B‑2 zoning supports office, retail, restaurant, medical, service, recreation, and fitness uses
- Solid cinder block commercial building
- Heating and air conditioning in place
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 | $35.5k | $18.00 |
| − Vacancy | −$1.8k | −$0.90 |
| EGI | $33.8k | $17.10 |
| − OpEx | −$11.8k | −$5.98 |
| NOI | $21.9k | $11.11 |
1,974 SF · lease $18.00/SF/yr · vacancy 5.00% · expense 35.00%
Alternative Uses
Best Use
Office B
$349.8K
$306.1K – $408.1K
NOI $24,486 @ 7.0% cap · market cap 9.79%
Second Best
Retail
$347.3K
$303.9K – $405.2K
NOI $24,313 @ 7.0% cap · market cap 9.73%
Theoretical Best
Office A
$471.0K
$412.1K – $549.5K
NOI $32,967 @ 7.0% cap · market cap 13.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
53
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 55020, MN
4,053
Population
1,501
Households
2.7
Avg Household Size
38
Median Age
38%
College-Educated
97%
High-School Grad
23.8 sq mi
ZIP Area
170
Density / Sq Mi
$127,159
Median Household Income
$65,728
Median Earnings
$452,700
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Cinder block commercial building with HVAC, additional power capacity, and parking for customer and employee use.
Where is this flex space located?
The property is located at 26545 Drew Avenue Elko New Market, MN.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: B‑2 zoning supports office, retail, restaurant, medical, service, recreation, and fitness uses; Solid cinder block commercial building; Heating and air conditioning in place
