Customizable Flex
For Sale
$325,000
940 McKinley Pkwy Unit 401, Delano, MN 55328
Flexible commercial unit suited for office, warehouse, workshop, showroom, or garage configurations.
Property Size1,520 SF
Price / SF$213.82
Days on Market68
Property Features for 940 McKinley Pkwy Unit 401
General Information
Standard status
Active
Size
1,520 SF
Building Details
Year Built
2026
Listing Agency:
eXp Realty
Listed By:
Martin Turner
(612) 695-0167
Source:
Chrisfritchteam
Added: Aug 10
Changed: Oct 2
Last Checked: Oct 7 at 2:56PM
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.
This 1,520 SF flex unit is designed for customization across office, warehouse, workshop, showroom, or garage applications. The unit includes 5-inch concrete flooring with floor drains, 20-foot ceilings, commercial-grade windows, an entry door, and a 14-foot-wide by 14-foot-tall garage door. A mezzanine can add 608 or more SF, creating 2,128+ SF of total space. The building package includes LP SmartSide lap siding, fire suppression, in-floor radiant heating, three-phase power, AC, and water and sewer connections. A bathroom is roughed in, with options available for additional improvements such as a bathroom, wet bar, kitchenette, or hot tub. Located at 940 McKinley Pkwy Unit 401 in Delano, Minnesota, the Phase 3 unit is scheduled for completion in late June 2026.
Key Highlights
- 1,520 SF flex unit with 20‑foot ceilings
- Mezzanine option adds 608 or more SF for 2,128+ SF total
- 14‑foot‑wide by 14‑foot‑tall garage door
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,612
Cap Rate
6.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$412,240
$412.2K
Cap Rate 7%
$294,457
$294.5K
Cap Rate 9%
$229,022
$229.0K
Market Conditions
NOI Build-Up for 1,520 SF
Gross rent
$33.4K $21.96/SF
− Vacancy
−$1.7K −$1.10/SF
EGI
$31.7K $20.86/SF
− OpEx
−$11.1K −$7.30/SF
NOI
$20.6K $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%
$412,240
Cap Rate 7%
$294,457
Cap Rate 9%
$229,022
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 authorities.
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - Flexible commercial unit suited for office, warehouse, workshop, showroom, or garage configurations.
Where is this flex space located?
The property is located at 940 McKinley Pkwy Unit 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: 1,520 SF flex unit with 20‑foot ceilings; Mezzanine option adds 608 or more SF for 2,128+ SF total; 14‑foot‑wide by 14‑foot‑tall garage door
