Refrigerated Cross-Dock
For Sale
$9,990,000
8201 Hickory St NE, Fridley, MN 55432
Fully refrigerated industrial facility with dock-intensive loading, trailer storage, and M-3 Heavy Industrial zoning.
Property Size32,178 SF
Lot Size5.99 Acres
Price / SF$310.46
Days on Market12
Property Features for 8201 Hickory St NE
General Information
Standard status
Active
Size
32,178 SF
Total Parking Spaces
20
Lot size
5.99 Acres
Zoning
M-3
Occupancy
100%
Warehouse & Industrial
Warehouse Space
13,428 SF
Office Build-Out
3,870 SF
Dock-High Doors
32
Drive-In Doors
1
Loading
Cross-Dock
Cold Storage
Yes
Cooler
14,880 SF
Additional Details
Highway Access
Yes
Building Details
Year Built
1991
Year Renovated
1999
Building Size
32,178 SF
Tenancy
Multi
Listing Agency:
Counselor Realty, Inc.
(763) 427-8850
Listed By:
Slava Daskalyuk
Source:
Bradadamrealty
Added: Aug 17
Changed: Aug 28
Last Checked: Aug 26 at 9:33AM
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 Counselor Realty, Inc.
Investment Insights
Based on property information with market context.
This 32,178-square-foot refrigerated and cold storage facility occupies 5.99 acres at 8201 Hickory St NE in Fridley. The cross-dock configuration includes 3,870 square feet of office area, a 14,880-square-foot low-bay cooler, and 13,428 square feet of high-bay refrigerated warehouse space. Loading infrastructure includes 32 docks with bumpers, levelers, and seals, along with one drive-in door. Clear heights measure 13'6" in the low bay and 24'6" in the high bay.
The property is zoned M-3 Heavy Industrial and provides on-site trailer storage, 10–12 semi-truck parking stalls, and 20 small-vehicle spaces. Office improvements include remodeled first-floor areas, an updated kitchen, two bathrooms, an additional first-floor restroom, and a private tenant office with restroom. The facility is 100% occupied by three NNN tenants, with access to Interstate 694 and an approximately 30-minute drive to Minneapolis–St. Paul International Airport.
The property is zoned M-3 Heavy Industrial and provides on-site trailer storage, 10–12 semi-truck parking stalls, and 20 small-vehicle spaces. Office improvements include remodeled first-floor areas, an updated kitchen, two bathrooms, an additional first-floor restroom, and a private tenant office with restroom. The facility is 100% occupied by three NNN tenants, with access to Interstate 694 and an approximately 30-minute drive to Minneapolis–St. Paul International Airport.
Key Highlights
- 32,178 SF fully refrigerated facility on 5.99 acres
- Cross‑dock layout with 32 loading docks and 1 drive‑in door
- 14,880 SF low‑bay cooler and 13,428 SF high‑bay refrigerated warehouse
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
$424,481
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
4.25%
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%
$8,489,620
$8.5M
Cap Rate 7%
$6,064,014
$6.1M
Cap Rate 9%
$4,716,456
$4.7M
Market Conditions
NOI Build-Up for 32,178 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
$521.3K $16.20/SF
− Vacancy
−$21.9K −$0.68/SF
EGI
$499.4K $15.52/SF
− OpEx
−$74.9K −$2.33/SF
NOI
$424.5K $13.19/SF
Area
Anoka 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 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%
$8,489,620
Cap Rate 7%
$6,064,014
Cap Rate 9%
$4,716,456
Alternative Uses
Best Use
Warehouse
$6.06M
$5.31M – $7.07M
NOI $424,481 @ 7.0% cap · market cap 4.25%
Second Best
Industrial
$4.99M
$4.37M – $5.83M
NOI $349,573 @ 7.0% cap · market cap 3.50%
Theoretical Best
Office A
$8.94M
$7.82M – $10.43M
NOI $625,664 @ 7.0% cap · market cap 6.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
32
Dock-high doors
1
Drive-in doors
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
584
Businesses Nearby
Explore this area
Business Placement
Demographics for 55432, MN
33,022
Population
13,575
Households
2.4
Avg Household Size
37
Median Age
30%
College-Educated
92%
High-School Grad
9.9 sq mi
ZIP Area
3,336
Density / Sq Mi
$77,985
Median Household Income
$48,417
Median Earnings
$1,308
Median Rent
$278,600
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?
Refrigerated & cold storage - Fully refrigerated industrial facility with dock-intensive loading, trailer storage, and M-3 Heavy Industrial zoning.
Where is this refrigerated & cold storage located?
The property is located at 8201 Hickory St NE Fridley, MN.
What is the asking price?
The asking price for this property is $9,990,000.
What are key features of this property?
This property features: 32,178 SF fully refrigerated facility on 5.99 acres; Cross‑dock layout with 32 loading docks and 1 drive‑in door; 14,880 SF low‑bay cooler and 13,428 SF high‑bay refrigerated warehouse
