Building Details

Building Size 1,200 SF

Year Built 2025

Units 1

Listing Agency: eXp Realty

Listed By: Kurt E Sutherland · License #40489706 Show Phone

Source: Getyoumoved

Added: Oct 19 Changed: Oct 23 Last Checked: Oct 23 at 2:24PM

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Investment Insights

Based on property information with market context.

This 2025 flex space unit offers approximately 1,200 square feet, 18-foot sidewalls, and a 14-foot overhead door. Interior features include a floor drain, water spigot, and rough-in for a bath. The layout also has room for a loft or mezzanine. The unit is ready for occupancy and customization, with a private entrance and a maintenance-free exterior.

The property is part of a gated, association-maintained community with 66 units available. The site has a paved parking lot, additional parking, and turnaround space. Community amenities include a clubhouse, and zoning is Business/Commercial. The location is just north of I-94 and County Road 19/Labeaux Avenue.

Key Highlights

• Approximately 1,200 square feet with 18‑foot sidewalls
• 14‑foot overhead door, floor drain, and interior water spigot
• Rough‑in bath and room to add a loft or mezzanine

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$16,272

Cap Rate

4.87%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$325,440 $325.4K

Cap Rate 7%

$232,457 $232.5K

Cap Rate 9%

$180,800 $180.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,200 SF

Gross rent

$26.4K $21.96/SF

− Vacancy

−$1.3K −$1.10/SF

EGI

$25.0K $20.86/SF

− OpEx

−$8.8K −$7.30/SF

NOI

$16.3K $13.56/SF

Area

Wright 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 Rate 5%

$325,440

Cap Rate 7%

$232,457

Cap Rate 9%

$180,800

Alternative Uses

Best Use

Flex RnD

$232.5K

$203.4K – $271.2K (±1% cap)

NOI $16,272 @ 7.0% cap · market cap 4.87%

Second Best

Warehouse

$226.1K

$197.9K – $263.8K (±1% cap)

NOI $15,830 @ 7.0% cap · market cap 4.74%

Theoretical Best

Office A

$286.3K

$250.5K – $334.0K (±1% cap)

NOI $20,041 @ 7.0% cap · market cap 6.00%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Flex space

Suggested Use

Top Pick Electrical Service

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

Lease Details

1

Drive-in doors

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

56

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 55301, MN

12,791

Population

4,720

Households

2.7

Avg Household Size

33

Median Age

44%

College-Educated

98%

High-School Grad

8.2 sq mi

ZIP Area

1,560

Density / Sq Mi

$131,157

Median Household Income

$65,890

Median Earnings

$1,458

Median Rent

$324,000

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

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Frequently Asked Questions

What type of property is this?

Flex space - A gated, customizable unit includes a private entrance and access to a clubhouse.

Where is this flex space located?

The property is located at 7041 Kagan Avenue #11I Otsego, MN.

What is the asking price?

The asking price for this property is $333,900.

What are key features of this property?

This property features: Approximately 1,200 square feet with 18‑foot sidewalls; 14‑foot overhead door, floor drain, and interior water spigot; Rough‑in bath and room to add a loft or mezzanine