Two-Tenant Office
New
For Sale
$1,750,000
4200 Egan Drive, Savage, MN 55378
The second suite offers private entry, windowed offices, conference rooms, and an open bullpen area.
Property Size8,976 SF
Price / SF$194.96
Days on Market6
Property Features for 4200 Egan Drive
General Information
Standard status
Active
Size
8,976 SF
Property subtype
Commercial
Additional Details
Office Units
2
Tenant in Place
Yes
Property Use
Office
Medical Specialty
eye clinic
Taxes and HOA fees
Annual Taxes
$48,288
Building Details
Year Built
1999
Buildings
1
Stories
1
Units
2
Building Size
8,976 SF
Tenancy
Multi
Listing Agency:
RE/MAX Advantage Plus
Listed By:
Jeremy Feldmann · License #62417
(952) 226-7700
Source:
Getyoumoved
Added: Oct 19
Changed: Oct 23
Last Checked: Oct 23 at 2:24PM
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 RE/MAX Advantage Plus
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 8,976-square-foot, single-level office building in Savage is configured for two users. One suite is occupied by an eye clinic under a recently extended five-year lease. The other suite is available and includes seven windowed offices, two conference rooms, a bullpen area, and a separate entrance.
Built in 1999, the building sits on just over an acre and has on-site parking. The two-suite configuration combines an existing leased occupancy with a separate suite available for lease.
Built in 1999, the building sits on just over an acre and has on-site parking. The two-suite configuration combines an existing leased occupancy with a separate suite available for lease.
Key Highlights
- 8,976 SF single‑level office building
- Two‑suite building with an eye clinic in one suite and the other suite available for lease
- Occupied suite extended its lease for another 5‑year term
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$118,752
Cap Rate
6.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,375,040
$2.4M
Cap Rate 7%
$1,696,457
$1.7M
Cap Rate 9%
$1,319,467
$1.3M
Market Conditions
NOI Build-Up for 8,976 SF
Gross rent
$226.2K $25.20/SF
− Vacancy
−$28.3K −$3.15/SF
EGI
$197.9K $22.05/SF
− OpEx
−$79.2K −$8.82/SF
NOI
$118.8K $13.23/SF
Area
Scott County, MN
Vacancy
12.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,375,040
Cap Rate 7%
$1,696,457
Cap Rate 9%
$1,319,467
Alternative Uses
Best Use
Healthcare Medical
$1.70M
$1.48M – $1.98M
NOI $118,752 @ 7.0% cap · market cap 6.79%
Second Best
Office B
$1.59M
$1.39M – $1.86M
NOI $111,341 @ 7.0% cap · market cap 6.36%
Theoretical Best
Office A
$2.14M
$1.87M – $2.50M
NOI $149,904 @ 7.0% cap · market cap 8.57%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Current Use
Lease Details
2
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
369
Businesses Nearby
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Business Placement
Demographics for 55378, MN
31,906
Population
11,857
Households
2.7
Avg Household Size
37
Median Age
51%
College-Educated
97%
High-School Grad
14.3 sq mi
ZIP Area
2,231
Density / Sq Mi
$122,237
Median Household Income
$58,171
Median Earnings
$1,608
Median Rent
$393,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - The second suite offers private entry, windowed offices, conference rooms, and an open bullpen area.
Where is this office building located?
The property is located at 4200 Egan Drive Savage, MN.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: 8,976 SF single‑level office building; Two‑suite building with an eye clinic in one suite and the other suite available for lease; Occupied suite extended its lease for another 5‑year term
