Multi-Tenant Flex and Warehouse
5547 Highway 2 Hermantown, MN 55810
For Sale
$845,000
COMMERCIAL - Hermantown, MN
Property Size14,130 SF
Lot Size6.92 Acres
Price / SF$59.80
Days on Market32
Property Features for 5547 Highway 2
General Information
Property type
Commercial Sale
Property subtype
Other
Standard status
Active
Size
14,130 SF
Lot size
6.92 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
12275
Utilities
Sewer type
Mound Septic
Heating system
Oil
Building Details
Year built
1990
Number of units
9
Roof type
Shingle
Listing Agency:
North Point Realty
(218) 624-2667
Listed By:
Jeff Urbaniak
(218) 624-2667
Added: Jun 26
Last Checked: Jul 27 at 10:06AM
MLS# 6121306
Copyright © 2026 Lake Superior Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This multi-tenant commercial property is configured as nine separate commercial spaces, offering a blend of flex, warehouse, and automotive-oriented functionality. The current leasing mix includes uses for car sales, car repair, warehouse space, and sales and office space, supporting both operating tenants and space-for-lease flexibility. The property has an updated mound septic system.
Located at 5547 Highway 2 in Hermantown, Minnesota, the site sits on 6.92 acres in St. Louis County. The Highway 2 frontage provides direct access for tenants and customers serving vehicle-related and general commercial uses.
For prospective buyers, the structure allows an owner to either occupy a portion of the space for business operations while leasing additional units, or to continue operating it as a multi-space rental offering. The mix of car sales, repair, warehouse, and office space can align with a range of service, distribution, and sales-oriented tenants looking for established, income-producing commercial configurations.
Located at 5547 Highway 2 in Hermantown, Minnesota, the site sits on 6.92 acres in St. Louis County. The Highway 2 frontage provides direct access for tenants and customers serving vehicle-related and general commercial uses.
For prospective buyers, the structure allows an owner to either occupy a portion of the space for business operations while leasing additional units, or to continue operating it as a multi-space rental offering. The mix of car sales, repair, warehouse, and office space can align with a range of service, distribution, and sales-oriented tenants looking for established, income-producing commercial configurations.
Key Highlights
- 6.92‑acre property with 9 commercial spaces, currently leased for car sales, car repair, warehouse space, sales, and office space
- Built in 1990 with oil heating
- New mound septic system installed
Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $83.1k | $5.88 |
| − Vacancy | −$3.2k | −$0.23 |
| EGI | $79.8k | $5.65 |
| − OpEx | −$12.0k | −$0.85 |
| NOI | $67.9k | $4.80 |
14,130 SF · lease $5.88/SF/yr · vacancy 3.90% · expense 15.00%
Alternative Uses
Best Use
Flex RnD
$4.75M
$4.16M – $5.54M
NOI $332,529 @ 7.0% cap · market cap 39.35%
Second Best
Retail
$1.91M
$1.67M – $2.23M
NOI $133,529 @ 7.0% cap · market cap 15.80%
Theoretical Best
Specialty Retail
$5.48M
$4.80M – $6.39M
NOI $383,687 @ 7.0% cap · market cap 45.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Flex space - Nine currently leased commercial spaces offer a mix of car sales, repair, warehouse, and office-ready areas.
Where is this flex space located?
The property is located at 5547 Highway 2 Hermantown, MN.
What is the asking price?
The asking price for this property is $845,000.
What are key features of this property?
This property features: 6.92‑acre property with 9 commercial spaces, currently leased for car sales, car repair, warehouse space, sales, and office space; Built in 1990 with oil heating; New mound septic system installed
