Refrigerated Cross-Dock
For Sale
$9,990,000
8201 Hickory Street NE, Fridley, MN 55432
Commercial Sale, Fridley, MN
Property Size32,178 SF
Lot Size5.99 Acres
Price / SF$310.46
Days on Market98
Property Features for 8201 Hickory Street NE
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Business/Commercial
Parking features
Garage - Attached, Carport, Parking Lot, Garage
Exterior features
Aluminum Siding, Brick/Stone, Metal
Appliances
Cooktop, Dishwasher, Freezer, Water Heater - Gas, Microwave, Range, Refrigerator, Stainless Steel Appliances
Subdivision
Mar-Len Add
High school district
Anoka-Hennepin
Directions
North on Highway 47 North, to 81st Ave Ne West, to Hickory St NE North to property on right hand side.
Standard status
Active
APN
033024140009
Lot size
5.99 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
88912
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1991
Building materials
Block, Concrete, Frame, Steel, Stone
Roof type
Flat, Metal
Listing Agency:
Counselor Realty, Inc.
(763) 427-8850
Listed By:
Slava Daskalyuk
(763) 390-3017
Added: May 22
Changed: Aug 27
Last Checked: Aug 27 at 3:06PM
MLS# 7079280
Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This refrigerated cold-storage property at 8201 Hickory Street NE includes 32,178 square feet on 5.99 acres. The facility combines 3,870 SF of office space, a 14,880 SF low-bay cooler, and 13,428 SF of high-bay refrigerated warehouse area. Its cross-dock layout includes 32 loading docks and one drive-in door, with dock bumpers, levelers, and seals. Clear heights measure 13'6" in the low bay and 24'6" in the high bay. The site is zoned M-3 Heavy Industrial and includes trailer storage.
Capital work includes remodeled first-floor offices, an updated kitchen, two bathrooms, an additional first-floor restroom, tenant office space with a private restroom, and a freshly painted exterior office building. Parking additions include 10-12 semi-truck stalls and 20 small-vehicle spaces. The property is 100% occupied by three tenants under NNN leases. Immediate access to Interstate 694 and an approximately 30-minute drive to Minneapolis-St. Paul International Airport connect the site to regional and national distribution routes.
Capital work includes remodeled first-floor offices, an updated kitchen, two bathrooms, an additional first-floor restroom, tenant office space with a private restroom, and a freshly painted exterior office building. Parking additions include 10-12 semi-truck stalls and 20 small-vehicle spaces. The property is 100% occupied by three tenants under NNN leases. Immediate access to Interstate 694 and an approximately 30-minute drive to Minneapolis-St. Paul International Airport connect the site to regional and national distribution routes.
Key Highlights
- 32,178 SF fully refrigerated facility on 5.99 acres (260,924 SF)
- Cross‑dock configuration with 32 loading docks and 1 drive‑in door
- Clear heights of 13'6" in the low bay and 24'6" in the high bay
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
24 ft
Clear height
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 - M-3 Heavy Industrial zoning, NNN leases, and three tenants support the facility’s logistics-oriented configuration.
Where is this refrigerated & cold storage located?
The property is located at 8201 Hickory Street 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 (260,924 SF); Cross‑dock configuration with 32 loading docks and 1 drive‑in door; Clear heights of 13'6" in the low bay and 24'6" in the high bay
