Flex Space with Dock-High
For Sale
Contact for pricing
3401 Spring St NE, Minneapolis, MN 55413
Flex space zoned I-2 with fully sprinkled warehouse, skylights, and 18-foot clear height.
Property Size34,848 SF
Price / SF$125
Days on Market836
Property Features for 3401 Spring St NE
General Information
Standard status
Active
Size
34,848 SF
Property subtype
INDUSTRIAL
Listing Agency:
CBRE - Minnesota
(952) 924-4600
Listed By:
Jonathan Juris
(612) 597-6701
Source:
Moodyscre
Added: Apr 16, 2024
Changed: Jul 30
Last Checked: Jul 30 at 3:14PM
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 CBRE - Minnesota
Investment Insights
Based on property information with market context.
Flex space totaling 34,848 SF includes 28,675 SF of warehouse space plus 2,688 SF of main level office and 3,488 SF of mezzanine office. The two-story office features an open bullpen with perimeter private offices, and there is a breakroom with four restrooms across the main floor and mezzanine. Warehouse mezzanine space is available at 1,800 SF (not included in the total).
The warehouse is designed for practical loading and throughput with three dock-high doors (8’ x 12’, 2 levelers, bumpers, and awning) and one drive-in door (12’ x 14’). Interior clear height is 18’, with a fully sprinkled system and skylights throughout. Power is listed as 400 Amp / 480 Volt / 3 Phase, with column spacing of 31.75’ x 27.5’.
Built in 1968 and zoned I-2 (medium industrial district), the property is also described as offering excess green space that may support building expansion, parking lot expansion, or outdoor storage. Comcast Fiber is noted.
The property is at 3401 Spring St NE in Minneapolis, Minnesota.
The warehouse is designed for practical loading and throughput with three dock-high doors (8’ x 12’, 2 levelers, bumpers, and awning) and one drive-in door (12’ x 14’). Interior clear height is 18’, with a fully sprinkled system and skylights throughout. Power is listed as 400 Amp / 480 Volt / 3 Phase, with column spacing of 31.75’ x 27.5’.
Built in 1968 and zoned I-2 (medium industrial district), the property is also described as offering excess green space that may support building expansion, parking lot expansion, or outdoor storage. Comcast Fiber is noted.
The property is at 3401 Spring St NE in Minneapolis, Minnesota.
Key Highlights
- Total size 34,848 SF with 28,675 SF warehouse plus main and mezzanine office space
- Warehouse mezzanine 1,800 SF not included in total SF
- Three dock‑high doors (8’ x 12’) with 2 levelers, bumpers, and awning plus one 12’ x 14’ drive‑in door
Financial Insights For Industrial
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 | $547.8k | $15.72 |
| − Vacancy | −$19.2k | −$0.55 |
| EGI | $528.6k | $15.17 |
| − OpEx | −$158.6k | −$4.55 |
| NOI | $370.0k | $10.62 |
34,848 SF · lease $15.72/SF/yr · vacancy 3.50% · expense 30.00%
Alternative Uses
Best Use
Warehouse
$7.25M
$6.35M – $8.46M
NOI $507,653 @ 7.0% cap · market cap 11.65%
Second Best
Office B
$6.22M
$5.44M – $7.26M
NOI $435,484 @ 7.0% cap · market cap 10.00%
Theoretical Best
Office A
$8.31M
$7.27M – $9.70M
NOI $581,981 @ 7.0% cap · market cap 13.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,748
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 55413, MN
13,914
Population
8,080
Households
1.7
Avg Household Size
34
Median Age
58%
College-Educated
95%
High-School Grad
3.1 sq mi
ZIP Area
4,488
Density / Sq Mi
$84,252
Median Household Income
$57,091
Median Earnings
$1,497
Median Rent
$354,200
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.
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Frequently Asked Questions
What type of property is this?
Flex space - Flex space zoned I-2 with fully sprinkled warehouse, skylights, and 18-foot clear height.
Where is this flex space located?
The property is located at 3401 Spring St NE Minneapolis, MN.
What is the asking price?
The asking price for this property is $4,356,000.
What are key features of this property?
This property features: Total size 34,848 SF with 28,675 SF warehouse plus main and mezzanine office space; Warehouse mezzanine 1,800 SF not included in total SF; Three dock‑high doors (8’ x 12’) with 2 levelers, bumpers, and awning plus one 12’ x 14’ drive‑in door
