Industrial Flex Building with Drive-In
For Sale
$1,400,000
637 12th Ave S, Hopkins, MN 55343
Industrial flex building offering a 50/50 office-warehouse split with heavy power and three drive-in doors on a fenced lot.
Property Size14,530 SF
Price / SF$96.35
Days on Market94
Property Features for 637 12th Ave S
General Information
Standard status
Active
Size
14,530 SF
Class
C
Property subtype
Industrial - Warehouse/Distribution
Zoning
I1 (BP)
Site & Location
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Clear Height
16 ft
Warehouse Space
7,265 SF
Office Build-Out
7,265 SF
Drive-In Doors
3
Heavy Power
Yes
Taxes and HOA fees
Annual Taxes
$40,867
Building Details
Building Size
14,530 SF
Year Built
1958
Buildings
1
Listing Agency:
Hoyt Properties
Listed By:
Mackenzie Damerow
(612) 338-3195
Source:
Commercialcafe
Added: Jul 29
Changed: Oct 26
Last Checked: Oct 28 at 5:00AM
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 Hoyt Properties
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This industrial/flex building provides an owner-user setup with approximately a 50/50 office to warehouse split, totaling 14,530 square feet (7,265 sf office and 7,265 sf warehouse). The warehouse portion is supported by three drive-in doors measuring 9' wide by 14' high, and the space features 16' clear height. A paved and fenced-in lot allows for possible outside storage, and the property includes heavy power.
The property is zoned I1 (BP), Light Industrial, which supports light industrial use. It’s set up to work well for operations that need both office space and practical warehouse access through multiple drive-in doors.
The combination of office space, clear height, heavy power, and a fenced, paved outdoor area makes this a strong fit for businesses seeking an efficient, functional industrial/flex environment.
The property is zoned I1 (BP), Light Industrial, which supports light industrial use. It’s set up to work well for operations that need both office space and practical warehouse access through multiple drive-in doors.
The combination of office space, clear height, heavy power, and a fenced, paved outdoor area makes this a strong fit for businesses seeking an efficient, functional industrial/flex environment.
Key Highlights
- 14,530 SF industrial/flex layout with 7,265 SF office and 7,265 SF warehouse
- Three drive‑in doors, each 9' wide by 14' high
- 16' clear height for warehouse operations
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$119,681
Cap Rate
8.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,393,620
$2.4M
Cap Rate 7%
$1,709,729
$1.7M
Cap Rate 9%
$1,329,789
$1.3M
Market Conditions
NOI Build-Up for 14,530 SF
Gross rent
$209.2K $14.40/SF
− Vacancy
−$25.1K −$1.73/SF
EGI
$184.1K $12.67/SF
− OpEx
−$64.4K −$4.44/SF
NOI
$119.7K $8.24/SF
Area
Hennepin County, MN
Vacancy
12.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,393,620
Cap Rate 7%
$1,709,729
Cap Rate 9%
$1,329,789
Alternative Uses
Best Use
Warehouse
$2.74M
$2.40M – $3.19M
NOI $191,675 @ 7.0% cap · market cap 13.69%
Second Best
Office B
$2.46M
$2.16M – $2.88M
NOI $172,542 @ 7.0% cap · market cap 12.32%
Theoretical Best
Office A
$3.47M
$3.03M – $4.04M
NOI $242,659 @ 7.0% cap · market cap 17.33%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Current Use
Lease Details
16 ft
Clear height
3
Drive-in doors
Yes
Heavy power
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
657
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 55343, MN
26,307
Population
14,111
Households
1.9
Avg Household Size
38
Median Age
52%
College-Educated
97%
High-School Grad
7.7 sq mi
ZIP Area
3,416
Density / Sq Mi
$82,415
Median Household Income
$54,823
Median Earnings
$1,427
Median Rent
$350,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Similar Off Market Nearby
- Taher Vending — 5570 smetana dr, minnetonka, mn 55343
Frequently Asked Questions
What type of property is this?
Flex space - Industrial flex building offering a 50/50 office-warehouse split with heavy power and three drive-in doors on a fenced lot.
Where is this flex space located?
The property is located at 637 12th Ave S Hopkins, MN.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 14,530 SF industrial/flex layout with 7,265 SF office and 7,265 SF warehouse; Three drive‑in doors, each 9' wide by 14' high; 16' clear height for warehouse operations
