Two-Level Office
For Sale
Contact for pricing
6211 Upper 51st St N, Oakdale, MN 55128
Professional office property with highway exposure, monument signage, and adaptable garage space.
Property Size4,065 SF
Price / SF$227.55
Days on Market159
Property Features for 6211 Upper 51st St N
General Information
Standard status
Active
Size
4,065 SF
Class
A
Property subtype
Office, Retail
Site & Location
Pylon Signage
Yes
Highway Access
Yes
Road Access
Yes
Amenities
ID pole signage
electronic message board
monument sign
conference room
Building Details
Year Built
1998
Year Renovated
2017
Buildings
1
Stories
1
Listing Agency:
Telus Property Services + Solutions
Listed By:
Brian Zeller · License #MN 20192872
Source:
Crexi
Added: Mar 27
Changed: Aug 30
Last Checked: Aug 30 at 3:06PM
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 Telus Property Services + Solutions
Investment Insights
Based on property information with market context.
This two-level office building, completed in 1998, contains 4,065 square feet arranged for professional occupancy. The main floor includes a reception area, four private offices, a conference room, and one bathroom. Five additional private offices and a second bathroom are located downstairs, with a separate stairway near the garage service entrance.
A 925-square-foot garage provides additional space and can be converted for office or retail use. The property fronts Highway 36 and includes a large two-sided identification pole sign oriented toward eastbound and westbound traffic. An electronic message board supports scrolling messages, while a separate illuminated monument sign provides additional building signage.
A 925-square-foot garage provides additional space and can be converted for office or retail use. The property fronts Highway 36 and includes a large two-sided identification pole sign oriented toward eastbound and westbound traffic. An electronic message board supports scrolling messages, while a separate illuminated monument sign provides additional building signage.
Key Highlights
- 4,065‑square‑foot office building completed in 1998
- Two‑level layout with 9 private offices, reception area, and conference room
- 925‑square‑foot garage with potential for office or retail conversion
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
$56,388
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
6.10%
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%
$1,127,760
$1.1M
Cap Rate 7%
$805,543
$805.5K
Cap Rate 9%
$626,533
$626.5K
Market Conditions
NOI Build-Up for 4,065 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
$101.5K $24.96/SF
− Vacancy
−$26.3K −$6.46/SF
EGI
$75.2K $18.50/SF
− OpEx
−$18.8K −$4.62/SF
NOI
$56.4K $13.87/SF
Area
Washington County, MN
Vacancy
25.90%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
25.00%
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%
$1,127,760
Cap Rate 7%
$805,543
Cap Rate 9%
$626,533
Alternative Uses
Best Use
Office B
$805.5K
$704.9K – $939.8K
NOI $56,388 @ 7.0% cap · market cap 6.10%
Second Best
Retail
$680.5K
$595.4K – $793.9K
NOI $47,634 @ 7.0% cap · market cap 5.15%
Theoretical Best
Office A
$1.13M
$988.0K – $1.32M
NOI $79,039 @ 7.0% cap · market cap 8.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
195
Businesses Nearby
Explore this area
Business Placement
Demographics for 55128, MN
29,217
Population
12,083
Households
2.4
Avg Household Size
39
Median Age
33%
College-Educated
93%
High-School Grad
11.2 sq mi
ZIP Area
2,609
Density / Sq Mi
$89,642
Median Household Income
$49,997
Median Earnings
$1,451
Median Rent
$300,700
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?
Office building - Professional office property with highway exposure, monument signage, and adaptable garage space.
Where is this office building located?
The property is located at 6211 Upper 51st St N Oakdale, MN.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: 4,065‑square‑foot office building completed in 1998; Two‑level layout with 9 private offices, reception area, and conference room; 925‑square‑foot garage with potential for office or retail conversion
