Building Details

Building Size 2,780 SF

Year Built 2005

Units 1

Listing Agency: eXp Realty

Listed By: Jesse Penman · License #81152-94 Show Phone

Source: Getyoumoved

Added: Oct 22 Changed: Oct 23 Last Checked: Oct 23 at 5:51PM

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Investment Insights

Based on property information with market context.

This 2,780-square-foot flex condominium at Pointe Douglas Business Center combines finished office space with an attached warehouse. The office area includes a reception or showroom space, several private offices, a kitchen, a conference room or additional office, and an oversized restroom. The warehouse offers 21 feet of clear height and a large overhead door. Built in 2005, the property is zoned Business/Commercial.

The property is at 8617 W Point Douglas Road S in Cottage Grove, with visibility from Hwy 61/10 and freeway access. Ample parking is available on site.

Key Highlights

• 2,780‑square‑foot office/warehouse condominium
• Warehouse has 21‑foot clear height and a large overhead door
• Office area includes reception/showroom space, private offices, kitchen, and conference room or extra office

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$31,062

Cap Rate

8.87%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$621,240 $621.2K

Cap Rate 7%

$443,743 $443.7K

Cap Rate 9%

$345,133 $345.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,780 SF

Gross rent

$50.0K $18.00/SF

− Vacancy

−$2.3K −$0.81/SF

EGI

$47.8K $17.19/SF

− OpEx

−$16.7K −$6.02/SF

NOI

$31.1K $11.17/SF

Area

Washington County, MN

Vacancy

4.50%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$621,240

Cap Rate 7%

$443,743

Cap Rate 9%

$345,133

Alternative Uses

Best Use

Warehouse

$523.9K

$458.4K – $611.2K (±1% cap)

NOI $36,673 @ 7.0% cap · market cap 10.48%

Second Best

Flex RnD

$443.7K

$388.3K – $517.7K (±1% cap)

NOI $31,062 @ 7.0% cap · market cap 8.87%

Theoretical Best

Office A

$772.2K

$675.7K – $900.9K (±1% cap)

NOI $54,054 @ 7.0% cap · market cap 15.44%

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

Property Analytics

Current Use

Grove Tax & Accounting ... Accounting Firm Tim Maluski Agcy, ... Insurance Agency RISE Professional Business Service Center Darin Husaby American ... Insurance Agency Top Ten Liquors ... (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Real Estate Agency Law Firm Dental Office Restaurant Auto Parts Store Hair 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

21 ft

Clear height

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

389

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 55016, MN

38,427

Population

13,953

Households

2.8

Avg Household Size

37

Median Age

39%

College-Educated

95%

High-School Grad

30.1 sq mi

ZIP Area

1,277

Density / Sq Mi

$121,295

Median Household Income

$61,724

Median Earnings

$1,653

Median Rent

$358,800

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

Similar For Sale Nearby

See more

Office-Warehouse Flex Condo

170-8617 W Point Douglas Rd S, Cottage Grove, MN 55016

$349,995

2,780 SF

View details

Fee Simple Grocery Store

9010 Jamaica Ave S, Cottage Grove, MN 55016

$3,745,000

20,027 SF

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Frequently Asked Questions

What type of property is this?

Flex space - Office and warehouse areas are combined with private offices, a reception space, and an attached work area.

Where is this flex space located?

The property is located at 8617 W Point Douglas Road S #170 Cottage Grove, MN.

What is the asking price?

The asking price for this property is $349,995.

What are key features of this property?

This property features: 2,780‑square‑foot office/warehouse condominium; Warehouse has 21‑foot clear height and a large overhead door; Office area includes reception/showroom space, private offices, kitchen, and conference room or extra office