Climate-Controlled Flex
For Sale
$249,000
4028 Prairie Road NE, Carlos, MN 56319
Commercial Sale, Carlos Twp, MN
Property Size3,072 SF
Lot Size0.10 Acres
Price / SF$81.05
Days on Market80
Property Features for 4028 Prairie Road NE
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Business/Commercial
Subdivision
Stor Smart North
High school district
Alexandria
Directions
Hwy 29 N to Prairie Rd left to buildings on Left Unit 71
Standard status
Active
APN
120916440
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
1716
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
2015
Building materials
Concrete, Steel
Roof type
Metal
Listing Agency:
Counselor Realty Inc of Alex
(320) 762-1111
Listed By:
Pat Ellingson · License #40490846
(320) 760-2722
Added: Jul 28
Changed: Oct 8
Last Checked: Oct 15 at 2:06AM
MLS# 7117085
Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,072-square-foot flex shop and storage building was constructed in 2015. Spray-foam insulation, forced-air heat, and central air conditioning provide climate control. The 48-by-64-foot building has 16-foot sidewalls, two 14-by-14-foot overhead doors, and a mezzanine measuring 12 feet by 64 feet. Plywood wall finish extends to 8 feet, with custom metal covering above. The building has a metal roof and concrete and steel construction.
Key Highlights
- 3,072‑square‑foot building on a 0.1‑acre lot
- 48‑by‑64‑foot footprint with 16‑foot sidewalls
- Two 14‑by‑14‑foot overhead doors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,579
Cap Rate
7.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$371,580
$371.6K
Cap Rate 7%
$265,414
$265.4K
Cap Rate 9%
$206,433
$206.4K
Market Conditions
NOI Build-Up for 3,072 SF
Gross rent
$27.6K $9.00/SF
− Vacancy
−$1.1K −$0.36/SF
EGI
$26.5K $8.64/SF
− OpEx
−$8.0K −$2.59/SF
NOI
$18.6K $6.05/SF
Area
Douglas County, MN
Vacancy
4.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$371,580
Cap Rate 7%
$265,414
Cap Rate 9%
$206,433
Alternative Uses
Best Use
Warehouse
$340.7K
$298.1K – $397.5K
NOI $23,849 @ 7.0% cap · market cap 9.58%
Second Best
Industrial
$265.4K
$232.2K – $309.7K
NOI $18,579 @ 7.0% cap · market cap 7.46%
Theoretical Best
Specialty Retail
$968.6K
$847.5K – $1.13M
NOI $67,800 @ 7.0% cap · market cap 27.23%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 56319, MN
1,300
Population
806
Households
1.6
Avg Household Size
39
Median Age
23%
College-Educated
96%
High-School Grad
40.4 sq mi
ZIP Area
32
Density / Sq Mi
$85,500
Median Household Income
$46,652
Median Earnings
$1,054
Median Rent
$282,000
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 200-amp electrical service and mezzanine support shop and storage functions.
Where is this flex space located?
The property is located at 4028 Prairie Road NE Carlos, MN.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: 3,072‑square‑foot building on a 0.1‑acre lot; 48‑by‑64‑foot footprint with 16‑foot sidewalls; Two 14‑by‑14‑foot overhead doors
