Flex Space with 20-Foot
For Sale
$249,900
940 McKinley Pkwy Unit 108, Delano, MN 55328
Finished flex unit with an ADA bathroom, radiant heating, utility sink, and dedicated garage access.
Property Size1,120 SF
Price / SF$223.13
Days on Market53
Property Features for 940 McKinley Pkwy Unit 108
General Information
Standard status
Active
Size
1,120 SF
Building Details
Year Built
2023
Listing Agency:
eXp Realty
Listed By:
Martin Turner
(612) 695-0167
Source:
Chrisfritchteam
Added: Aug 25
Changed: Oct 4
Last Checked: Oct 7 at 1:38PM
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 Realty
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Investment Insights
Based on property information with market context.
Built in 2023, this 1,120-square-foot flex unit at West End Autoplex & Business Center combines finished commercial space with workshop and storage utility. The interior includes an ADA bathroom, commercial-grade windows, a utility sink, 5-inch concrete floors with a floor drain, and 20-foot ceilings. A 14-foot-wide by 14-foot-tall garage door supports vehicle access, while 150 Amps of power and a 40-gallon water heater serve the unit. Fire suppression and in-floor radiant heating are installed. The main level may be enlarged by adding a 448-square-foot mezzanine, bringing the potential total to 1,568 square feet. Additional improvements can include a wet bar, kitchenette, or hot tub, subject to applicable requirements.
Key Highlights
- 1,120 SF flex unit built in 2023
- 20‑foot ceilings with 5” concrete floors and floor drain
- 14' wide x 14' tall garage door
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,188
Cap Rate
6.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$303,760
$303.8K
Cap Rate 7%
$216,971
$217.0K
Cap Rate 9%
$168,756
$168.8K
Market Conditions
NOI Build-Up for 1,120 SF
Gross rent
$24.6K $21.96/SF
− Vacancy
−$1.2K −$1.10/SF
EGI
$23.4K $20.86/SF
− OpEx
−$8.2K −$7.30/SF
NOI
$15.2K $13.56/SF
Area
Wright County, MN
Vacancy
5.00%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$303,760
Cap Rate 7%
$216,971
Cap Rate 9%
$168,756
Alternative Uses
Best Use
Flex RnD
$217.0K
$189.9K – $253.1K
NOI $15,188 @ 7.0% cap · market cap 6.08%
Second Best
Warehouse
$211.1K
$184.7K – $246.3K
NOI $14,775 @ 7.0% cap · market cap 5.91%
Theoretical Best
Office A
$267.2K
$233.8K – $311.8K
NOI $18,705 @ 7.0% cap · market cap 7.48%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
12
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 55328, MN
9,729
Population
3,684
Households
2.6
Avg Household Size
39
Median Age
42%
College-Educated
98%
High-School Grad
44.9 sq mi
ZIP Area
217
Density / Sq Mi
$118,036
Median Household Income
$65,990
Median Earnings
$927
Median Rent
$382,600
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - Finished flex unit with an ADA bathroom, radiant heating, utility sink, and dedicated garage access.
Where is this flex space located?
The property is located at 940 McKinley Pkwy Unit 108 Delano, MN.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: 1,120 SF flex unit built in 2023; 20‑foot ceilings with 5” concrete floors and floor drain; 14' wide x 14' tall garage door
