Flex Space with Secure
For Sale
$2,700,000
6931 135th NE Ave, Columbus, MN 55025
Industrial office and warehouse property with dedicated parking, controlled outdoor storage, and specialized drainage features.
Property Size174,240 SF
Price / SF$246.35
Days on Market177
Property Features for 6931 135th NE Ave
General Information
Standard status
Active
Size
174,240 SF
Total Parking Spaces
28
Property subtype
Office
Additional Details
Outdoor Storage
Yes
Building Details
Building Size
174,240 SF
Listing Agency:
Cetra Partners
(612) 430-9982
Listed By:
Jay Chmieleski
Source:
Nmrk
Added: Mar 7
Changed: Aug 31
Last Checked: Aug 31 at 12:43AM
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 Cetra Partners
Investment Insights
Based on property information with market context.
This flex property combines office and warehouse functionality within a 10,960-square-foot industrial building. The site includes 28 surface parking stalls, secure outdoor storage, a floor drain, and a flammable-waste trap, providing practical features for a range of industrial operations.
Located at 6931 135th NE Ave in Columbus, Minnesota, the property offers access to I-35 via Lake Drive in approximately three minutes. Its combination of enclosed workspace, parking, secured exterior storage, and industrial drainage infrastructure supports users seeking both building and yard capacity.
Located at 6931 135th NE Ave in Columbus, Minnesota, the property offers access to I-35 via Lake Drive in approximately three minutes. Its combination of enclosed workspace, parking, secured exterior storage, and industrial drainage infrastructure supports users seeking both building and yard capacity.
Key Highlights
- 10,960 SF industrial office and warehouse building
- 28 surface parking stalls
- Secure outside storage area
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
$148,621
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
5.50%
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%
$2,972,420
$3.0M
Cap Rate 7%
$2,123,157
$2.1M
Cap Rate 9%
$1,651,344
$1.7M
Market Conditions
NOI Build-Up for 10,960 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
$240.7K $21.96/SF
− Vacancy
−$12.0K −$1.10/SF
EGI
$228.6K $20.86/SF
− OpEx
−$80.0K −$7.30/SF
NOI
$148.6K $13.56/SF
Area
Chisago County, MN
Vacancy
5.00%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
35.00%
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%
$2,972,420
Cap Rate 7%
$2,123,157
Cap Rate 9%
$1,651,344
Alternative Uses
Best Use
Flex RnD
$2.12M
$1.86M – $2.48M
NOI $148,621 @ 7.0% cap · market cap 5.50%
Second Best
Warehouse
$2.07M
$1.81M – $2.41M
NOI $144,581 @ 7.0% cap · market cap 5.35%
Theoretical Best
Office A
$2.61M
$2.29M – $3.05M
NOI $183,038 @ 7.0% cap · market cap 6.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
45
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 55025, MN
25,784
Population
10,522
Households
2.5
Avg Household Size
40
Median Age
36%
College-Educated
94%
High-School Grad
77.1 sq mi
ZIP Area
334
Density / Sq Mi
$95,993
Median Household Income
$51,041
Median Earnings
$1,355
Median Rent
$385,800
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Industrial office and warehouse property with dedicated parking, controlled outdoor storage, and specialized drainage features.
Where is this flex space located?
The property is located at 6931 135th NE Ave Columbus, MN.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: 10,960 SF industrial office and warehouse building; 28 surface parking stalls; Secure outside storage area
