Office/Warehouse Flex
940 McKinley Parkway #401 Delano, MN 55328
940 McKinley Parkway #401, Delano, MN, 55328
$325,000
For Sale
$325,000
Private flex unit with 20' ceilings, 5-inch concrete floors with drains, and a 14' x 14' wide overhead garage door.
Property Size1,520 SF
Price / SF$213.82
Days on Market121
Property Features for 940 McKinley Parkway #401
General Information
- Standard status
- Active
- Size
- 1,520 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 2026
Listing agency
eXp Realty
(612) 695-0167
Listed by
Martin Turner
(612) 695-0167
Source
Juverealestate
Added: Mar 24 Updated: Jul 22 at 6:03AM Checked: Jul 22 at 6:03AM
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.
This private flex unit is designed for office-and-warehouse style use, with the ability to be customized into an office/warehouse, workshop, showroom, or a car cave/dream garage. The space features 5-inch concrete floors with floor drains and approximately 20' high ceilings, along with commercial-grade windows and a 14' wide x 14' tall entry garage door. The unit also includes fire suppression and in-floor radiant heating, with options to add a split system for additional heating and/or cooling. It is wired with 3-phase power and AC, plumbed with water and sewer, and has a roughed-in bathroom.
The property is located at 940 McKinley Parkway in Delano, MN, and is part of Phase 3 that is scheduled for completion in late June of 2026. Reservations are currently being taken for Phase 3.
The offering includes the ability to add additional interior space by installing a mezzanine level of 608 or more square feet, bringing total potential area to 2,128+ square feet. Upgrades are available and can be selected or fully customized to fit the buyer’s intended build-out.
The property is located at 940 McKinley Parkway in Delano, MN, and is part of Phase 3 that is scheduled for completion in late June of 2026. Reservations are currently being taken for Phase 3.
The offering includes the ability to add additional interior space by installing a mezzanine level of 608 or more square feet, bringing total potential area to 2,128+ square feet. Upgrades are available and can be selected or fully customized to fit the buyer’s intended build-out.
Key Highlights
- Year built 2026 flex unit in Phase 3, slated for completion in late June 2026
- 20' high ceilings with 5‑inch concrete floors including floor drains
- 14' x 14' wide x 14' tall overhead garage door plus commercial‑grade windows and entry door
Local 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 | $33.4k | $21.96 |
| − Vacancy | −$1.7k | −$1.10 |
| EGI | $31.7k | $20.86 |
| − OpEx | −$11.1k | −$7.30 |
| NOI | $20.6k | $13.56 |
1,520 SF · lease $21.96/SF/yr · vacancy 5.00% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$294.5K
$257.7K – $343.5K
NOI $20,612 @ 7.0% cap · market cap 6.34%
Second Best
Warehouse
$286.4K
$250.6K – $334.2K
NOI $20,051 @ 7.0% cap · market cap 6.17%
Theoretical Best
Office A
$362.6K
$317.3K – $423.1K
NOI $25,385 @ 7.0% cap · market cap 7.81%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
FAQs
What type of property is this?
Flex space - Private flex unit with 20' ceilings, 5-inch concrete floors with drains, and a 14' x 14' wide overhead garage door.
Where is this flex space located?
The property is located at 940 McKinley Parkway #401 Delano, MN.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Year built 2026 flex unit in Phase 3, slated for completion in late June 2026; 20' high ceilings with 5‑inch concrete floors including floor drains; 14' x 14' wide x 14' tall overhead garage door plus commercial‑grade windows and entry door
