Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1010 Hoffman Dr Owatonna, MN 55060

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $8 SF/Yr

    Modern Flex Space, 6,400 SF Available

    Lot size:
    69,971 SF

    Property Features for 1010 Hoffman Dr

    General Information

    Property type
    Flex space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    69,971 SF
    Total Rate
    46647.33

    Spaces For Lease

    at 1010 Hoffman Dr, Owatonna, MN 55060 Contact us
    Unit Available Space

    $8 /Mo

    Size
    6,400 SF
    Contact us

    We can help!

    Listing Contact
    James Halbur
    James Halbur

    Listing Agency: KW Commercial Midwest - Eagan Listing Agent: James Halbur

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional flex space, located at 1010 Hoffman Dr NW in Owatonna, Minnesota, offers 6,400 square feet of immediately available space within a larger 69,971 square foot industrial building. The property is situated on a substantial 321,351 square foot lot in Steele County, offering ample room for expansion or outdoor storage. The space is part of a multi-tenant building and is highly adaptable to a variety of uses. The minimum divisible space is 6,132 square feet, providing flexibility for businesses of different sizes. Its convenient location next to Anytime Fitness provides excellent visibility and accessibility. The property's current configuration is well-suited for showroom, warehouse, or manufacturing operations. However, with potential modifications, including the addition of a front entrance, the space could easily be adapted for retail use, such as a garden center or nursery, taking advantage of the generous outdoor space. The property's zip code is 55060. This prime location in Owatonna presents a unique opportunity for businesses seeking a versatile and well-positioned industrial space. The available space is contiguous, offering efficiency and ease of operation.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Owatonna
    County
    Steele
    State
    Minnesota
    Longitude
    -93.2344025
    Latitude
    44.0964836

    Nearby Similar for Lease

    • Contact for pricing
      75,000 SF

      Owatonna Industrial Facility For Rent

      75,000 SF industrial facility on 11.24 acres available for rent.
      205 SW 24Th Ave SW, Owatonna, MN 55060
      View Details
    • Contact for pricing
      19,300 SF

      Owatonna Warehouse Space For Lease

      Versatile warehouse space, multiple units available.
      600 Hoffman Dr, Owatonna, MN 55060
      View Details
    • $204 SF/Yr
      1,800 SF

      Downtown Owatonna Retail Space

      Prime Retail Space, 1800 sq ft, Owatonna, MN
      211 Cedar Ave, Owatonna, MN 55060
      View Details
    • Contact for pricing
      1,800 SF

      Retail Space in Downtown Owatonna

      Retail space available in Owatonna's new downtown development.
      207-211 N Cedar Ave, Owatonna, MN 55060
      View Details
    • Contact for pricing
      3,950 SF

      Industrial Space with Office Component

      Versatile industrial space featuring office and warehouse areas for lease.
      600 Hoffman Dr, Owatonna, MN 55060
      View Details
    • Contact for pricing
      1,374 SF

      Retail/Office/Restaurant Space Available

      Two retail spaces available, suitable for office or restaurant use.
      1100 Frontage Rd W, Owatonna, MN 55060
      View Details
    • Contact for pricing
      4,400 SF

      Retail Space Available For Rent

      Retail space for rent in Owatonna, MN.
      1045 Frontage Rd W, Owatonna, MN 55060
      View Details
    • Contact for pricing
      130,000 SF

      New Warehouse Space Available

      130,000 SF warehouse with ample trailer parking, delivery Q4 2024.
      202 24Th Ave SW, Owatonna, MN 55060
      View Details
    • Contact for pricing
      1,785 SF

      Retail Space in High Traffic

      Retail space available in high-traffic Owatonna shopping center.
      2350 43Rd St NW, Owatonna, MN 55060
      View Details
    • Contact for pricing

      Owatonna Warehouse Space Available

      Warehouse space available for lease in Owatonna, Minnesota.
      3350 Park Dr, Owatonna, MN 55060
      View Details
    • $17 SF/Yr
      1,374 SF

      Owatonna Retail & Office Space

      1374 sq ft, prime location, high traffic.
      1100 Frontage Rd, Owatonna, MN 55060
      View Details

    FAQs

    What type of property is this?
    Flex space - Modern Flex Space, 6,400 SF Available
    Where is this flex space located?
    The property is located at 1010 Hoffman Dr Owatonna, MN.
    What is the lease rate?
    The lease rate is $8 SF/Yr.
    What are key features of this property?
    This property features: Gross Lease.; Shared Parking.; Ample Parking.
    (507) 317-2353
    Request Owner's contact information
    1010 Hoffman Dr Owatonna, MN 55060
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1010 Hoffman Dr
    Owatonna, MN 55060
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1010 Hoffman Dr Owatonna, MN 55060
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    James Halbur
    James Halbur
    Real Estate License ID: 40144147
    (507) 317-2353 (651) 379-2800 (507) 625-0982
    Learn more
    Google sign-in failed. Please try again or use another login method.