Light Industrial Warehouse and
8555 W 123RD ST Savage, MN 55378
For Sale
Contact for pricing
Industrial facility built in 2004 with leased office space and space available for occupancy under I-1 zoning.
Property Size19,035 SF
Price / SF$157.34
Days on Market51
Property Features for 8555 W 123RD ST
General Information
Standard status
Active
Size
19,035 SF
Property subtype
Industrial
Building Details
Year Built
2004
Listing Agency:
North Star Commercial
(612) 819-8285
Listed By:
Scott Naasz · License #MN 40709913
Source:
Crexi
Added: Jun 9
Changed: Jul 23
Last Checked: Jul 28 at 2:10PM
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 North Star Commercial
Investment Insights
Based on property information with market context.
8555 W 123rd Street is a light industrial warehouse and operational facility built in 2004, totaling 19,035 square feet. The property includes warehouse and operational space along with office space. As of December 1, 2026, approximately 14,806 square feet will be available for occupancy, and 4,229 square feet of office space is currently leased to an established tenant with eight years remaining and 4% annual rent increases.
The site is located in Savage, Minnesota, with stated convenient access to major highways and the broader Twin Cities market. The property is zoned I-1 (Light Industrial), supporting a range of industrial uses.
This offering is designed for owner-users seeking immediate warehouse and operational functionality, with the benefit of in-place office income from the existing lease.
The site is located in Savage, Minnesota, with stated convenient access to major highways and the broader Twin Cities market. The property is zoned I-1 (Light Industrial), supporting a range of industrial uses.
This offering is designed for owner-users seeking immediate warehouse and operational functionality, with the benefit of in-place office income from the existing lease.
Key Highlights
- Industrial facility built in 2004 with 19,035 SF of warehouse and operational space
- I‑1 (Light Industrial) zoning supports a variety of industrial uses
- As of Dec 1, 2026, 14,806 SF will be available for occupancy
Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $308.4k | $16.20 |
| − Vacancy | −$13.0k | −$0.68 |
| EGI | $295.4k | $15.52 |
| − OpEx | −$44.3k | −$2.33 |
| NOI | $251.1k | $13.19 |
19,035 SF · lease $16.20/SF/yr · vacancy 4.20% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$3.59M
$3.14M – $4.19M
NOI $251,103 @ 7.0% cap · market cap 8.38%
Second Best
Industrial
$2.95M
$2.58M – $3.45M
NOI $206,791 @ 7.0% cap · market cap 6.90%
Theoretical Best
Office A
$4.54M
$3.97M – $5.30M
NOI $317,895 @ 7.0% cap · market cap 10.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
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 - Industrial facility built in 2004 with leased office space and space available for occupancy under I-1 zoning.
Where is this warehouse located?
The property is located at 8555 W 123RD ST Savage, MN.
What is the asking price?
The asking price for this property is $2,995,000.
What are key features of this property?
This property features: Industrial facility built in 2004 with 19,035 SF of warehouse and operational space; I‑1 (Light Industrial) zoning supports a variety of industrial uses; As of Dec 1, 2026, 14,806 SF will be available for occupancy
