Flex Space with Drive-In
New
For Sale
Contact for pricing
3160 162nd Ln NW, Andover, MN 55304
A flexible layout pairs dedicated office space with a substantial shop area on a business-zoned parcel.
Property Size2,542 SF
Lot Size0.92 Acres
Price / SF$230.13
Days on Market4
Property Features for 3160 162nd Ln NW
General Information
Standard status
Active
Size
2,542 SF
Lot size
0.92 Acres
Property subtype
INDUSTRIAL
Zoning
GB - General Business
Warehouse & Industrial
Warehouse Space
2,158 SF
Office Build-Out
384 SF
Drive-In Doors
2
Additional Details
Asking Price
$585,000
Road Access
Yes
Building Details
Buildings
1
Building Size
2,542 SF
Listing Agency:
CRE Partners
Listed By:
Eric Riemer · License #40239919
(612) 730-4631
Source:
Moodyscre
Added: Oct 7
Changed: Oct 10
Last Checked: Oct 10 at 2:35AM
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 CRE Partners
Investment Insights
Based on property information with market context.
This flex property contains 2,542 square feet, divided between a 384-square-foot office and a 2,158-square-foot shop. Two drive-in doors serve the shop, and the building is described as well maintained.
The 0.92-acre site has frontage and signage on Round Lake Blvd NW. Its zoning is GB - General Business.
The 0.92-acre site has frontage and signage on Round Lake Blvd NW. Its zoning is GB - General Business.
Key Highlights
- 2,542 SF total: 384 SF office and 2,158 SF shop
- Two drive‑in doors
- 0.92‑acre parcel
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,616
Cap Rate
4.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$552,320
$552.3K
Cap Rate 7%
$394,514
$394.5K
Cap Rate 9%
$306,844
$306.8K
Market Conditions
NOI Build-Up for 2,542 SF
Gross rent
$41.2K $16.20/SF
− Vacancy
−$1.7K −$0.68/SF
EGI
$39.5K $15.52/SF
− OpEx
−$11.8K −$4.66/SF
NOI
$27.6K $10.86/SF
Area
Anoka County, MN
Vacancy
4.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$552,320
Cap Rate 7%
$394,514
Cap Rate 9%
$306,844
Alternative Uses
Best Use
Industrial
$394.5K
$345.2K – $460.3K
NOI $27,616 @ 7.0% cap · market cap 4.72%
Second Best
Flex RnD
$252.9K
$221.3K – $295.1K
NOI $17,706 @ 7.0% cap · market cap 3.03%
Theoretical Best
Office A
$706.1K
$617.8K – $823.8K
NOI $49,426 @ 7.0% cap · market cap 8.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Drive-in doors
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
63
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 55304, MN
49,128
Population
17,318
Households
2.8
Avg Household Size
40
Median Age
37%
College-Educated
96%
High-School Grad
68.6 sq mi
ZIP Area
716
Density / Sq Mi
$127,145
Median Household Income
$60,835
Median Earnings
$1,628
Median Rent
$402,600
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
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 - A flexible layout pairs dedicated office space with a substantial shop area on a business-zoned parcel.
Where is this flex space located?
The property is located at 3160 162nd Ln NW Andover, MN.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: 2,542 SF total: 384 SF office and 2,158 SF shop; Two drive‑in doors; 0.92‑acre parcel
