Flex Property with Loading
For Sale
$150,000
Pending
707 N 6th Avenue, Virginia, MN 55792
Heated retail and warehouse areas create a flexible in-town commercial configuration.
Property Size880 SF
Days on Market54
Property Features for 707 N 6th Avenue
General Information
Standard status
Pending
Size
880 SF
Property subtype
Commercial
Building Details
Year Built
1936
Listing Agency:
Smart Choice Realty
Listed By:
The Antonov Group
(612) 445-4981
Source:
Theantonovgroup
Added: Aug 24
Changed: Oct 15
Last Checked: Oct 16 at 8:33AM
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 Smart Choice Realty
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Investment Insights
Based on property information with market context.
This flex property at 707 N 6th Ave includes appx. 880 sq. ft. of heated retail space with a counter area, shelving, half bath, and utility room. Forced-air heat and ductless A/C serve the retail area. Two attached heated warehouse spaces are complemented by an additional warehouse measuring appx. 2,700 sq. ft., with potential office space. The property also includes three loading docks.
The Virginia, MN location places the building within town and supports a range of commercial configurations. The layout can accommodate equipment or vehicle storage, distribution and fulfillment, automotive-related operations, wholesale or retail showroom use, and other business applications identified for the property. The building previously operated as a feed and seed warehouse.
The Virginia, MN location places the building within town and supports a range of commercial configurations. The layout can accommodate equipment or vehicle storage, distribution and fulfillment, automotive-related operations, wholesale or retail showroom use, and other business applications identified for the property. The building previously operated as a feed and seed warehouse.
Key Highlights
- 10,142‑square‑foot flex property at 707 N 6th Ave, Virginia, MN
- Appx. 880 sq. ft. of heated retail space with counter area, shelving, half bath, and utility room
- Additional warehouse measures appx. 2,700 sq. ft. with potential office space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,316
Cap Rate
5.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$166,320
$166.3K
Cap Rate 7%
$118,800
$118.8K
Cap Rate 9%
$92,400
$92.4K
Market Conditions
NOI Build-Up for 880 SF
Gross rent
$13.2K $15.00/SF
− Vacancy
−$1.3K −$1.50/SF
EGI
$11.9K $13.50/SF
− OpEx
−$3.6K −$4.05/SF
NOI
$8.3K $9.45/SF
Area
St. Louis County, MN
Vacancy
10.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$166,320
Cap Rate 7%
$118,800
Cap Rate 9%
$92,400
Alternative Uses
Best Use
Flex RnD
$295.9K
$258.9K – $345.2K
NOI $20,710 @ 7.0% cap · market cap 13.81%
Second Best
Retail
$118.8K
$104.0K – $138.6K
NOI $8,316 @ 7.0% cap · market cap 5.54%
Theoretical Best
Specialty Retail
$341.4K
$298.7K – $398.3K
NOI $23,896 @ 7.0% cap · market cap 15.93%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,029
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 55792, MN
9,827
Population
5,628
Households
1.7
Avg Household Size
45
Median Age
20%
College-Educated
93%
High-School Grad
95.7 sq mi
ZIP Area
103
Density / Sq Mi
$50,616
Median Household Income
$40,275
Median Earnings
$795
Median Rent
$128,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - Heated retail and warehouse areas create a flexible in-town commercial configuration.
Where is this flex space located?
The property is located at 707 N 6th Avenue Virginia, MN.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: 10,142‑square‑foot flex property at 707 N 6th Ave, Virginia, MN; Appx. 880 sq. ft. of heated retail space with counter area, shelving, half bath, and utility room; Additional warehouse measures appx. 2,700 sq. ft. with potential office space
