Building Details

Building Size 4,040 SF

Year Built 1940

Buildings 1

Units 1

Listing Agency: Greatland Real Estate Services LLC

Listed By: Fawn Martin Show Phone

Source: Getyoumoved

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

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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 Greatland Real Estate Services LLC

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This standalone warehouse offers 4,040 square feet, a dedicated bathroom, and 6 parking stalls. Loading features include one 10-foot-tall drive-in door and one 8-foot dock door with a platform. The building has 11-foot clear height and was built in 1940.

The property is 5 minutes from Hwy 494 and Hwy 10. Zoning is designated Business/Commercial and Industrial.

Key Highlights

• 4,040‑square‑foot standalone warehouse
• One 10‑ft‑tall drive‑in door and one 8‑ft dock door with platform
• 11‑ft clear height

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$53,294

Cap Rate

8.88%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,065,880 $1.1M

Cap Rate 7%

$761,343 $761.3K

Cap Rate 9%

$592,156 $592.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,040 SF

Gross rent

$65.4K $16.20/SF

− Vacancy

−$2.7K −$0.68/SF

EGI

$62.7K $15.52/SF

− OpEx

−$9.4K −$2.33/SF

NOI

$53.3K $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%

$1,065,880

Cap Rate 7%

$761,343

Cap Rate 9%

$592,156

Alternative Uses

Best Use

Warehouse

$761.3K

$666.2K – $888.2K (±1% cap)

NOI $53,294 @ 7.0% cap · market cap 8.88%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.12M

$981.9K – $1.31M (±1% cap)

NOI $78,553 @ 7.0% cap · market cap 13.09%

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

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Current Use

V and P Pallet ... Freight Service

Suggested Use

Top Pick Real Estate Agency (Bike/Boat/Book/etc) Store Furniture & Home Goods Hair Salon Storage Facility Nail Salon

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

11 ft

Clear height

1

Dock-high doors

1

Drive-in doors

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

214

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 55055, MN

3,797

Population

2,001

Households

1.9

Avg Household Size

37

Median Age

25%

College-Educated

92%

High-School Grad

3.6 sq mi

ZIP Area

1,055

Density / Sq Mi

$63,365

Median Household Income

$41,118

Median Earnings

$1,080

Median Rent

$331,300

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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Similar Off Market Nearby

• Newport Cold Storage — 2233 Maxwell Ave, Newport, MN 55055

Frequently Asked Questions

What type of property is this?

Warehouse - Standalone space includes a dedicated restroom and loading access for varied warehouse operations.

Where is this warehouse located?

The property is located at 76 21st Street Newport, MN.

What is the asking price?

The asking price for this property is $600,000.

What are key features of this property?

This property features: 4,040‑square‑foot standalone warehouse; One 10‑ft‑tall drive‑in door and one 8‑ft dock door with platform; 11‑ft clear height