Flex Space with Office and
506 James Street, Brainerd, MN 56401
For Sale
$2,500,000
Commercial Sale, Brainerd, MN
Property Size27,402 SF
Lot Size1.82 Acres
Price / SF$91.23
Days on Market505
Property Features for 506 James Street
General Information
Property type
Property subtype
Zoning description
Parking features
Subdivision
Lot features
High school district
Directions
Standard status
APN
Lot size
Additional Details
Property Use
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Cooling system
Building Details
Year built
Building materials
Roof type
Listing Agency:
Close-Converse Commercial Prop
Listed By:
Chris Close · License MN #20286846
(218) 828-3334
Added: Jun 26, 2025
Changed: Oct 29
Last Checked: Nov 12 at 6:06AM
MLS# 6745900
Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This concrete flex property combines 12,319 SF of office area with 14,019 SF of warehouse space on the main level. The office layout includes a reception area, open work areas, 10 private offices, a conference room, and a kitchen and dining area. Warehouse features include one overhead door in the larger open area, a receiving room with loading dock access, and a second warehouse with four overhead doors. An additional 1,064 SF occupies the upper level, bringing the building total to 27,402 SF.
The property occupies 1.82 acres at 506 James Street in Brainerd. Built in 1989, the building has central air, a flat rubber roof, and covered parking along with a parking lot.
The property occupies 1.82 acres at 506 James Street in Brainerd. Built in 1989, the building has central air, a flat rubber roof, and covered parking along with a parking lot.
Key Highlights
- 27,402 SF building on 1.82 acres
- Main level includes 12,319 SF of office area and 14,019 SF of warehouse area
- 10 private offices, open work areas, reception, conference room, and kitchen/dining area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$194,959
Cap Rate
7.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,899,180
$3.9M
Cap Rate 7%
$2,785,129
$2.8M
Cap Rate 9%
$2,166,211
$2.2M
Market Conditions
NOI Build-Up for 27,402 SF
Gross rent
$238.7K $8.71/SF
− Vacancy
−$9.3K −$0.34/SF
EGI
$229.4K $8.37/SF
− OpEx
−$34.4K −$1.26/SF
NOI
$195.0K $7.11/SF
Area
Crow Wing County, MN
Vacancy
3.90%
Lease Rate
$8.71 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,899,180
Cap Rate 7%
$2,785,129
Cap Rate 9%
$2,166,211
Alternative Uses
Best Use
Office B
$4.44M
$3.88M – $5.18M
NOI $310,739 @ 7.0% cap · market cap 12.43%
Second Best
Flex RnD
$3.60M
$3.15M – $4.19M
NOI $251,674 @ 7.0% cap · market cap 10.07%
Theoretical Best
Office A
$5.82M
$5.09M – $6.79M
NOI $407,216 @ 7.0% cap · market cap 16.29%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
573
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
Demographics for 56401, MN
30,632
Population
16,038
Households
1.9
Avg Household Size
40
Median Age
24%
College-Educated
94%
High-School Grad
322.6 sq mi
ZIP Area
95
Density / Sq Mi
$70,269
Median Household Income
$40,172
Median Earnings
$918
Median Rent
$237,900
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Similar Off Market Nearby
- The Chameleon Culinary Co. — 619 sw 5th st, brainerd, mn 56401
Frequently Asked Questions
What type of property is this?
Flex space - A mixed office and industrial layout includes dedicated work areas, multiple warehouses, and loading dock access.
Where is this flex space located?
The property is located at 506 James Street Brainerd, MN.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 27,402 SF building on 1.82 acres; Main level includes 12,319 SF of office area and 14,019 SF of warehouse area; 10 private offices, open work areas, reception, conference room, and kitchen/dining area
