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    Chaska Warehouse with Air Conditioning Title is generated by Realmo AI

    4264 Norex Dr, Chaska, MN

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    28,538 SF industrial/warehouse space available for sublease in Chaska.

    Type:INDUSTRIAL
    Property size:
    28,538 SF
    Lot size:
    3.77 Acres
    Added:
    Apr 30, 2025
    Days on Market:
    403
    Last Refresh:
    May 20 at 8:33 pm

    Property Features for 4264 Norex Dr

    General Information

    Standard status
    Active
    Size
    28,538 SF
    Lot size
    3.77 Acres
    Property subtype
    INDUSTRIAL

    Spaces For Lease

    at 4264 Norex Dr Contact us

    We can help!

    Listing Contact
    Joe Jetland
    Joe Jetland

    Listing agent Joe Jetland

    Listing office Forte Real Estate Partners, LLC

    Listing date Apr 30, 2025

    Source Moodyscre

    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 Forte Real Estate Partners, LLC

    HighLights

    • Fully air‑conditioned warehouse and office space totaling 28,538 SF
    • Benefit from a significant power supply with 850+ amps of 480 volts
    • Excellent loading capabilities with oversized drive‑in door and 3 dock doors
    • Competitive lease rates
    • Flexible lease terms available: short‑term or long‑term
    • Available in 30 days

    Overview

    This 28,538 square foot industrial/warehouse building is available for sublease in Chaska. The space includes 25,472 square feet of warehouse area and 3,066 square feet of second-story office space. The property is fully air-conditioned and features significant power, with over 850 amps of 480 volts. Loading is facilitated by an oversized drive-in door and three dock doors. The space is available for both long-term and short-term deals. The sublease end date is August 31, 2027, and the space could be available in 30 days. The property benefits from local ownership and a good location.
    Property Profile Location Intelligence

    Current Use by Public Records

    Freight Management Logistics Trucking Company Prairie Machining, Inc. Industrial Manufacturer

    Suggested Use

    Restaurant Real Estate Agency Spa & Massage Center Building Supply Dental Office Auto Repair Shop Big Box & Wholesale Store Hair Salon Nail Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • CHASKA SELF-STORAGE — 103 Peavey Rd #200, Chaska, MN 55318

    Location Insight

    • Map
    • Local Demand
    City
    Chaska
    County
    Carver
    State
    Minnesota
    Longitude
    -93.5919
    Latitude
    44.8548

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    FAQs

    What type of property is this?
    Warehouse - 28,538 SF industrial/warehouse space available for sublease in Chaska.
    Where is this warehouse located?
    The property is located at 4264 Norex Dr Chaska, MN.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    What are key features of this property?
    This property features: Fully air‑conditioned warehouse and office space totaling 28,538 SF; Benefit from a significant power supply with 850+ amps of 480 volts; Excellent loading capabilities with oversized drive‑in door and 3 dock doors
    (612) 710-1699 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Joe Jetland
    Joe Jetland
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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