Light Industrial Warehouse
8555 123rd St W, Savage, MN 55378
For Sale
Contact for pricing
Pending
A 2004-built light industrial warehouse with leased office space and substantial area to occupy starting December 1, 2026.
Property Size19,035 SF
Days on Market160
Property Features for 8555 123rd St W
General Information
Standard status
Size
Property subtype
Zoning
Additional Details
Highway Access
Building Details
Year Built
Listing Agency:
eXp Commercial
(612) 554-4773
Listed By:
Scott Naasz · License MN #40922534
(612) 819-8285
Source:
Moodyscre
Added: Jun 8
Changed: Nov 11
Last Checked: Nov 12 at 9:36AM
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 eXp Commercial
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Investment Insights
Based on property information with market context.
Located at 8555 123rd St W in Savage, Minnesota, this 2004-built industrial facility totals 19,035 square feet of warehouse and operational space. The property includes office space that is leased to an established tenant, with eight years remaining as of December 1, 2026, and 4% annual rent increases.
The remaining occupancy is projected to be available beginning December 1, 2026, with approximately 14,806 square feet available for warehouse and operational use and 4,229 square feet of office space under lease. The property is zoned I-1 (Light Industrial), supporting a range of industrial uses for both owner-users and investors.
With its warehouse-forward configuration and existing in-place office lease, the building is designed to support day-to-day industrial operations while maintaining leased income from the office component.
The remaining occupancy is projected to be available beginning December 1, 2026, with approximately 14,806 square feet available for warehouse and operational use and 4,229 square feet of office space under lease. The property is zoned I-1 (Light Industrial), supporting a range of industrial uses for both owner-users and investors.
With its warehouse-forward configuration and existing in-place office lease, the building is designed to support day-to-day industrial operations while maintaining leased income from the office component.
Key Highlights
- 19,035 SF light industrial warehouse and operational space built in 2004 in Savage, MN
- Zoned I‑1 (Light Industrial) for a range of industrial uses
- Starting Dec 1, 2026, approx. 14,806 SF will be available for occupancy
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$251,103
Cap Rate
8.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,022,060
$5.0M
Cap Rate 7%
$3,587,186
$3.6M
Cap Rate 9%
$2,790,033
$2.8M
Market Conditions
NOI Build-Up for 19,035 SF
Gross rent
$308.4K $16.20/SF
− Vacancy
−$13.0K −$0.68/SF
EGI
$295.4K $15.52/SF
− OpEx
−$44.3K −$2.33/SF
NOI
$251.1K $13.19/SF
Area
Scott 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%
$5,022,060
Cap Rate 7%
$3,587,186
Cap Rate 9%
$2,790,033
Alternative Uses
Best Use
Warehouse
$3.59M
$3.14M – $4.19M
NOI $251,103 @ 7.0% cap · market cap 8.98%
Second Best
Industrial
$2.95M
$2.58M – $3.45M
NOI $206,791 @ 7.0% cap · market cap 7.40%
Theoretical Best
Office A
$4.54M
$3.97M – $5.30M
NOI $317,895 @ 7.0% cap · market cap 11.37%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
311
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 55378, MN
31,906
Population
11,857
Households
2.7
Avg Household Size
37
Median Age
51%
College-Educated
97%
High-School Grad
14.3 sq mi
ZIP Area
2,231
Density / Sq Mi
$122,237
Median Household Income
$58,171
Median Earnings
$1,608
Median Rent
$393,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Warehouses in Scott County
Vacancy Rate% for Industrial in Midwest region
Similar Off Market Nearby
- Public Storage — 7801 128th St W, Savage, MN 55378
- Tuff Shed Minneapolis — 8841 County Rd 101, Savage, MN 55378
Frequently Asked Questions
What type of property is this?
Warehouse - A 2004-built light industrial warehouse with leased office space and substantial area to occupy starting December 1, 2026.
Where is this warehouse located?
The property is located at 8555 123rd St W Savage, MN.
What is the asking price?
The asking price for this property is $2,795,000.
What are key features of this property?
This property features: 19,035 SF light industrial warehouse and operational space built in 2004 in Savage, MN; Zoned I‑1 (Light Industrial) for a range of industrial uses; Starting Dec 1, 2026, approx. 14,806 SF will be available for occupancy
