Two-Suite Office
For Sale
$1,950,000
4200 Egan Drive, Savage, MN 55378
Single-level professional building with windowed offices, conference rooms, and a private suite entrance.
Property Size8,976 SF
Price / SF$217.25
Days on Market50
Property Features for 4200 Egan Drive
General Information
Standard status
Active
Size
8,976 SF
Property subtype
Commercial
Additional Details
Office Units
2
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
(406) 314-3333
Listed By:
Jeremy Feldmann · License #40702141
(406) 314-3333
Source:
Juverealestate
Added: Jul 7
Changed: Aug 23
Last Checked: Aug 24 at 1:34PM
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
Investment Insights
Based on property information with market context.
The 8,976-square-foot, single-level office building is configured for two users. Suite 2 is currently available for lease and includes 7 windowed offices, 2 conference rooms, a bullpen area, and its own private entry. Suite 1 is occupied by a long-term Vision Clinic, providing an established tenant within the property.
Located at 4200 Egan Dr in Savage, Minnesota, the property sits on just over an acre with ample parking. The building offers a professional setting for an owner-user, an investor, or a combination of leased and occupied office space, based on its existing two-suite configuration.
Located at 4200 Egan Dr in Savage, Minnesota, the property sits on just over an acre with ample parking. The building offers a professional setting for an owner-user, an investor, or a combination of leased and occupied office space, based on its existing two-suite configuration.
Key Highlights
- 8,976 SF single‑level office building
- Two‑user configuration with separate suites
- Suite 2 includes 7 windowed offices, 2 conference rooms, bullpen area, and private entry
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$118,752
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.09%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
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.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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 6.09%
Second Best
Office B
$1.59M
$1.39M – $1.86M
NOI $111,341 @ 7.0% cap · market cap 5.71%
Theoretical Best
Office A
$2.14M
$1.87M – $2.50M
NOI $149,904 @ 7.0% cap · market cap 7.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
369
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Office 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?
Office building - Single-level professional building with windowed offices, conference rooms, and a private suite entrance.
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 $1,950,000.
What are key features of this property?
This property features: 8,976 SF single‑level office building; Two‑user configuration with separate suites; Suite 2 includes 7 windowed offices, 2 conference rooms, bullpen area, and private entry
