Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Shakopee Warehouse with Highway Access Title is generated by Realmo AI

    587 Citation Dr, Shakopee, MN 55379

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    37,923 SF warehouse with easy highway access, available 2027.

    Type:INDUSTRIAL
    Property size:
    37,923 SF
    Added:
    May 21, 2026
    Days on Market:
    13
    Last Refresh:
    May 27 at 7:12 am

    Property Features for 587 Citation Dr

    General Information

    Standard status
    Active
    Size
    37,923 SF
    Property subtype
    INDUSTRIAL

    We can help!

    Listing Contact
    Eric Riemer
    Eric Riemer

    Listing agent Eric Riemer License #40239919

    Listing office CRE Partners

    Listing date May 21, 2026

    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 CRE Partners

    HighLights

    • Easy Access to Hwy 169 & Hwy 101
    • Approximately 37,923 SF Total
    • Features 2 Docks & 5 Drive‑ins (14’x14’ & 14’x11’)
    • 2,000 Amp/208 Volt
    • New Roof (2026)
    • 20’ Clear

    Overview

    This commercial property offers approximately 37,923 square feet of space. It features a 20-foot clear height, two docks, and five drive-in doors, including doors measuring 14’x14’ and 14’x11’. The electrical capacity is 2,000 amps at 208 volts. Limited outdoor storage is available. The property is set to receive a new roof in 2026. Convenient access to Highway 169 and Highway 101 is provided. The property will be available starting October 1, 2027.
    Location Intelligence

    Current Use by Public Records

    Warehouses

    Suggested Use

    Real Estate Agency Law Firm Hair Salon Gym & Fitness Center Auto Repair Shop Garden Center Kitchen & Bath Showroom Storage Facility HVAC Service Car Rental Facility

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

    Similar Places Nearby

    • LI Group — 1150 Gateway Dr, Shakopee, MN 55379
    • QTS WAREHOUSE FACILITY — 4551 12th Ave E, Shakopee, MN 55379

    Location Insight

    • Map
    • Local Demand
    City
    Shakopee
    County
    Scott
    State
    Minnesota
    Longitude
    -93.4534653
    Latitude
    44.7938518

    Nearby Similar for Sale

    • $699,000
      4,125 SF

      Shakopee Commercial Building For Sale

      Versatile commercial building in downtown Shakopee, suitable for various uses.
      230 1st Avenue E, Shakopee, MN 55379
      View Details
    • $1,395,000
      7,520 SF

      Downtown Shakopee Commercial Building For Sale

      Newly built commercial building in downtown Shakopee with office and shop.
      160-190 Market St S, Shakopee, MN
      View Details
    • $875,000
      7,000 SF

      Downtown Shakopee Commercial Building

      Highly visible commercial building in the heart of Downtown Shakopee.
      112 Sommerville St S, Shakopee, MN 55379
      View Details
    • $2,575,000

      Restaurant Investment Opportunity

      Restaurant property for sale in Shakopee, Minnesota.
      4041 Dean Lakes Boulevard | Shakopee, MN 55379, MN 55379
      View Details
    • Contact for pricing

      Former Theater Site For Sale

      Former Marcus Theatre site in Shakopee Town Square for sale.
      1116 Shakopee Town Sq, Shakopee, MN 55379
      View Details
    • Contact for pricing
      95,000 SF

      Shakopee Industrial Property For Sale

      95,000 SF industrial property available in Shakopee, Minnesota.
      4471 Valley Industrial Blvd, Shakopee, MN
      View Details
    • Contact for pricing
      301,800 SF

      Shakopee Warehouse Space Available

      301,800 square foot warehouse space for lease in Shakopee.
      3050 Emery Way, Shakopee, MN
      View Details
    • Contact for pricing
      148,800 SF

      Shakopee Industrial Property for Sale

      148,800 square foot industrial property in Shakopee, Minnesota.
      3000 Emery Way, Shakopee, MN
      View Details
    • Contact for pricing
      226,424 SF

      New Class A Industrial Building

      New industrial building for sale in Shakopee, Minnesota.
      5201 Dean Lakes Blvd, Shakopee, MN
      View Details
    • $1,000,000
      40,967 SF

      Former Theater in Shakopee Square

      Former Marcus Theatre site available within Shakopee Town Square.
      1126 Shakopee Town Square, Shakopee, MN
      View Details

    FAQs

    What type of property is this?
    Warehouse - 37,923 SF warehouse with easy highway access, available 2027.
    Where is this warehouse located?
    The property is located at 587 Citation Dr Shakopee, MN.
    What are key features of this property?
    This property features: Easy Access to Hwy 169 & Hwy 101; Approximately 37,923 SF Total; Features 2 Docks & 5 Drive‑ins (14’x14’ & 14’x11’)
    (612) 730-4631 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Eric Riemer
    Eric Riemer
    Real Estate License ID: 40239919
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    587 Citation Dr, Shakopee, MN 55379
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!