Listing Agency: RE/MAX Results · RE/MAX International j***@results.net Show Phone

Listed By: Tom Acton · License #40200615|WI67860-94 Show Phone

Added: Jul 16 Changed: Oct 4 Last Checked: Oct 6 at 7:06PM

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MLS# 6125464

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Investment Insights

Based on property information with market context.

This 40x80 pole barn presents an opportunity for various uses. The building features spray foam insulated walls, a 200 Amp electrical service, and municipal natural gas service. A heated slab is also included. The walls measure 16 feet in height, and the doors are 14 feet tall. There are two doors on the front of the building and a smaller door on the side. The property is located across the street from The Floodwood Fishing Pier, a fully accessible, floating dock at the Floodwood Municipal Campground. The pier extends into the St. Louis River and is suitable for fishing, canoeing, and kayaking. The pier is ADA compliant. The St. Louis River is known for northern pike, walleye, and panfish. The campground provides a fish-cleaning station, boat landing, RV hookups, tent sites, and a playground. The property, situated on 0.31 acres, could be suitable for storing a camper or gear.

Key Highlights

• Finished 40x80 pole barn with spray foam insulation and heated slab.
• 200 Amp electrical service and municipal natural gas available.
• Across the street from Floodwood Fishing Pier with St. Louis River access.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$15,370

Cap Rate

8.31%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$307,400 $307.4K

Cap Rate 7%

$219,571 $219.6K

Cap Rate 9%

$170,778 $170.8K

Market Conditions

NOI Build-Up for 3,200 SF

Gross rent

$18.8K $5.88/SF

− Vacancy

−$734 −$0.23/SF

EGI

$18.1K $5.65/SF

− OpEx

−$2.7K −$0.85/SF

NOI

$15.4K $4.80/SF

Area

St. Louis County, MN

Vacancy

3.90%

Lease Rate

$5.88 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$307,400

Cap Rate 7%

$219,571

Cap Rate 9%

$170,778

Alternative Uses

Best Use

Warehouse

$219.6K

$192.1K – $256.2K (±1% cap)

NOI $15,370 @ 7.0% cap · market cap 8.31%

Second Best

Industrial

$180.8K

$158.2K – $211.0K (±1% cap)

NOI $12,658 @ 7.0% cap · market cap 6.84%

Theoretical Best

Specialty Retail

$1.24M

$1.09M – $1.45M (±1% cap)

NOI $86,893 @ 7.0% cap · market cap 46.97%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Open Analytics

Current Use

Warehouses

Suggested Use

Top Pick Parking Lot & Garage HVAC Service Building Supply Auto Parts Store (Bike/Boat/Book/etc) Store Pharmacy

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

95

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 55736, MN

1,454

Population

876

Households

1.7

Avg Household Size

50

Median Age

12%

College-Educated

93%

High-School Grad

355.6 sq mi

ZIP Area

4

Density / Sq Mi

$65,000

Median Household Income

$41,458

Median Earnings

$691

Median Rent

$162,300

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this warehouses located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Warehouse - 40x80 pole barn with heated slab near fishing pier.

Where is this warehouse located?

The property is located at 418 4th Ave E Floodwood, MN.

What is the asking price?

The asking price for this property is $185,000.

What are key features of this property?

This property features: Finished 40x80 pole barn with spray foam insulation and heated slab.; 200 Amp electrical service and municipal natural gas available.; Across the street from Floodwood Fishing Pier with St. Louis River access.