Customizable Flex
For Sale
$299,000
940 McKinley Parkway #202, Delano, MN 55328
Customizable commercial units support office, warehouse, workshop, showroom, or garage configurations with utility connections and upgrade options.
Days on Market569
Property Features for 940 McKinley Parkway #202
General Information
Standard status
Active
Property subtype
Commercial
Warehouse & Industrial
Clear Height
20 ft
Drive-In Doors
1
Three-Phase Power
Yes
Sprinkler System
Yes
Additional Details
Utilities to Site
Yes
Building Details
Building Size
1,433 SF
Year Built
2025
Construction
LP Smartside lap siding
Listing Agency:
eXp Realty
(612) 695-0167
Listed By:
Martin Turner
(612) 695-0167
Source:
Ivyrealestategroup
Added: Jan 8, 2025
Changed: Jul 31
Last Checked: Jul 31 at 2:54PM
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
Investment Insights
Based on property information with market context.
These high-quality flex units can be customized as office/warehouse space, a workshop, showroom, or car cave/dream garage. Units feature 5-inch concrete floors with floor drains, 20-foot-high ceilings, commercial-grade windows, an entry door, and a 16-foot-wide by 14-foot-tall garage door. Attractive LP SmartSide lap siding adds a finished exterior appearance.
Each unit is equipped with fire suppression, in-floor radiant heating, 3-phase power, AC, and water and sewer connections. Bathrooms are roughed in, with options to add a bathroom, wet bar, kitchenette, hot tub, split system, or other upgrades. A mezzanine can add 608 or more SF of space, creating 2,128+ SF. Phase 3 reservations are being accepted for completion in late Spring of 2026.
Each unit is equipped with fire suppression, in-floor radiant heating, 3-phase power, AC, and water and sewer connections. Bathrooms are roughed in, with options to add a bathroom, wet bar, kitchenette, hot tub, split system, or other upgrades. A mezzanine can add 608 or more SF of space, creating 2,128+ SF. Phase 3 reservations are being accepted for completion in late Spring of 2026.
Key Highlights
- 5‑inch concrete floors with floor drains and 20‑foot‑high ceilings
- 16‑foot‑wide by 14‑foot‑tall garage door with commercial‑grade windows and entry door
- 3‑phase power, AC, water and sewer connections in every unit
Financial Insights For Flex RnD
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 | $31.5k | $21.96 |
| − Vacancy | −$1.6k | −$1.10 |
| EGI | $29.9k | $20.86 |
| − OpEx | −$10.5k | −$7.30 |
| NOI | $19.4k | $13.56 |
1,433 SF · lease $21.96/SF/yr · vacancy 5.00% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$277.6K
$242.9K – $323.9K
NOI $19,432 @ 7.0% cap · market cap 6.50%
Second Best
Warehouse
$270.1K
$236.3K – $315.1K
NOI $18,904 @ 7.0% cap · market cap 6.32%
Theoretical Best
Office A
$341.9K
$299.2K – $398.9K
NOI $23,932 @ 7.0% cap · market cap 8.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
20 ft
Clear height
1
Drive-in doors
Yes
Sprinkler system
Yes
Utilities to site
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 Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Customizable commercial units support office, warehouse, workshop, showroom, or garage configurations with utility connections and upgrade options.
Where is this flex space located?
The property is located at 940 McKinley Parkway #202 Delano, MN.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 5‑inch concrete floors with floor drains and 20‑foot‑high ceilings; 16‑foot‑wide by 14‑foot‑tall garage door with commercial‑grade windows and entry door; 3‑phase power, AC, water and sewer connections in every unit
