Building Details

Building Size 174,240 SF

Listing Agency: Cetra Partners

Listed By: Jay Chmieleski Show Phone

Source: Nmrk

Added: Mar 7 Changed: Oct 6 Last Checked: Oct 16 at 7:06AM

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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

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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.

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 / Yr

$144,581

Cap Rate

5.35%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,891,620 $2.9M

Cap Rate 7%

$2,065,443 $2.1M

Cap Rate 9%

$1,606,456 $1.6M

Is this asking price fair?

Market Conditions

NOI Build-Up for 10,960 SF

Gross rent

$177.6K $16.20/SF

− Vacancy

−$7.5K −$0.68/SF

EGI

$170.1K $15.52/SF

− OpEx

−$25.5K −$2.33/SF

NOI

$144.6K $13.19/SF

Area

Washington County, MN

Vacancy

4.20%

Lease Rate

$16.20 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,891,620

Cap Rate 7%

$2,065,443

Cap Rate 9%

$1,606,456

Alternative Uses

Best Use

Warehouse

$2.07M

$1.81M – $2.41M (±1% cap)

NOI $144,581 @ 7.0% cap · market cap 5.35%

Second Best

Flex RnD

$1.75M

$1.53M – $2.04M (±1% cap)

NOI $122,462 @ 7.0% cap · market cap 4.54%

Theoretical Best

Office A

$3.04M

$2.66M – $3.55M (±1% cap)

NOI $213,104 @ 7.0% cap · market cap 7.89%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Kitchen & Bath Showroom Auto Parts Store Big Box & Wholesale Store Plumbing Service Florist

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

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