Industrial Warehouse with Secured
For Sale
Contact for pricing
480 Kenny Rd, Saint Paul, MN 55130
Warehouse includes modular office, clear height, dock and drive-in doors, plus fully secured outdoor storage.
Property Size8,400 SF
Price / SF$185
Days on Market247
Property Features for 480 Kenny Rd
General Information
Standard status
Active
Size
8,400 SF
Property subtype
INDUSTRIAL
Listing Agency:
Colliers
(952) 897-7746
Listed By:
Ryan Krzmarzick
(952) 897-7746
Source:
Moodyscre
Added: Dec 8, 2025
Changed: Aug 8
Last Checked: Aug 11 at 1:59PM
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 Colliers
Investment Insights
Based on property information with market context.
Built in 1961, this 8,400-square-foot industrial building offers 7,900 square feet of warehouse space along with 500 square feet of modular office. The facility includes one restroom and a 13’ 8” clear height, supported by efficient loading with two 8’ x 8’ dock doors featuring bumpers, levelers, and seals, as well as four 12’ x 12’ drive-in doors (including one automatic). On-site outdoor storage totals approximately 5,500 square feet and is fully secured with a new fence and gate.
The property is situated for visibility to I-94, supporting branding opportunities with traffic counts of 108,000 vehicles per day.
With its combination of warehouse layout, functional loading configuration, and secured yard space, the building is well suited for day-to-day distribution and storage needs requiring both indoor and fenced outdoor capacity.
The property is situated for visibility to I-94, supporting branding opportunities with traffic counts of 108,000 vehicles per day.
With its combination of warehouse layout, functional loading configuration, and secured yard space, the building is well suited for day-to-day distribution and storage needs requiring both indoor and fenced outdoor capacity.
Key Highlights
- 8,400 SF industrial building built in 1961 with 7,900 SF warehouse and 500 SF modular office
- 13’ 8” clear height plus loading with two 8’ x 8’ dock doors (with bumpers, levelers, and seals)
- Four 12’ x 12’ drive‑in doors, including one automatic
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
$110,810
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
7.13%
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%
$2,216,200
$2.2M
Cap Rate 7%
$1,583,000
$1.6M
Cap Rate 9%
$1,231,222
$1.2M
Market Conditions
NOI Build-Up for 8,400 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
$136.1K $16.20/SF
− Vacancy
−$5.7K −$0.68/SF
EGI
$130.4K $15.52/SF
− OpEx
−$19.6K −$2.33/SF
NOI
$110.8K $13.19/SF
Area
Dakota County, MN
Vacancy
4.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
15.00%
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%
$2,216,200
Cap Rate 7%
$1,583,000
Cap Rate 9%
$1,231,222
Alternative Uses
Best Use
Warehouse
$1.58M
$1.39M – $1.85M
NOI $110,810 @ 7.0% cap · market cap 7.13%
Second Best
Office B
$1.49M
$1.30M – $1.74M
NOI $104,196 @ 7.0% cap · market cap 6.71%
Theoretical Best
Healthcare Medical
$2.07M
$1.81M – $2.41M
NOI $144,698 @ 7.0% cap · market cap 9.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,740
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 55130, MN
18,581
Population
6,368
Households
2.9
Avg Household Size
28
Median Age
21%
College-Educated
73%
High-School Grad
2.0 sq mi
ZIP Area
9,291
Density / Sq Mi
$53,281
Median Household Income
$36,740
Median Earnings
$1,151
Median Rent
$220,300
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse includes modular office, clear height, dock and drive-in doors, plus fully secured outdoor storage.
Where is this warehouse located?
The property is located at 480 Kenny Rd Saint Paul, MN.
What is the asking price?
The asking price for this property is $1,554,000.
What are key features of this property?
This property features: 8,400 SF industrial building built in 1961 with 7,900 SF warehouse and 500 SF modular office; 13’ 8” clear height plus loading with two 8’ x 8’ dock doors (with bumpers, levelers, and seals); Four 12’ x 12’ drive‑in doors, including one automatic
