Flex Unit with High
For Sale
$305,000
940 McKinley Pkwy Unit 402, Delano, MN 55328
Private commercial unit offering adaptable space for office, warehouse, workshop, showroom, or garage use.
Property Size1,433 SF
Price / SF$212.84
Days on Market84
Property Features for 940 McKinley Pkwy Unit 402
General Information
Standard status
Active
Size
1,433 SF
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
Year Built
2026
Listing Agency:
eXp Realty
Listed By:
Martin Turner
(612) 695-0167
Source:
Homesminn
Added: Jul 25
Changed: Oct 16
Last Checked: Oct 7 at 1:43PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,433 SF private flex unit is planned for flexible commercial use and can be configured as an office/warehouse, workshop, showroom, or garage. The unit includes 5-inch concrete flooring with floor drains, 20-foot ceilings, commercial-grade windows, an entry door, and a 14' wide by 14' tall garage door. Fire suppression, in-floor radiant heating, 3-phase power, AC, water, sewer, and a roughed-in bathroom are included. A split system and additional interior improvements can be added, including a bathroom, wet bar, kitchenette, or hot tub.
Located at 940 McKinley Pkwy Unit 402 in Delano, Minnesota, the property is part of Phase 3, scheduled for completion in late June 2026. A mezzanine option can add 608 or more SF, bringing the total to 2,041 + SF. Exterior construction includes LP SmartSide lap siding, with additional upgrades and customization options available.
Located at 940 McKinley Pkwy Unit 402 in Delano, Minnesota, the property is part of Phase 3, scheduled for completion in late June 2026. A mezzanine option can add 608 or more SF, bringing the total to 2,041 + SF. Exterior construction includes LP SmartSide lap siding, with additional upgrades and customization options available.
Key Highlights
- 1,433 SF private flex unit in Phase 3
- Optional mezzanine adds 608 or more SF for a total of 2,041 + SF
- 20‑foot ceilings with 5‑inch concrete floors and floor drains
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,432
Cap Rate
6.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$388,640
$388.6K
Cap Rate 7%
$277,600
$277.6K
Cap Rate 9%
$215,911
$215.9K
Market Conditions
NOI Build-Up for 1,433 SF
Gross rent
$31.5K $21.96/SF
− Vacancy
−$1.6K −$1.10/SF
EGI
$29.9K $20.86/SF
− OpEx
−$10.5K −$7.30/SF
NOI
$19.4K $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%
$388,640
Cap Rate 7%
$277,600
Cap Rate 9%
$215,911
Alternative Uses
Best Use
Flex RnD
$277.6K
$242.9K – $323.9K
NOI $19,432 @ 7.0% cap · market cap 6.37%
Second Best
Warehouse
$270.1K
$236.3K – $315.1K
NOI $18,904 @ 7.0% cap · market cap 6.20%
Theoretical Best
Office A
$341.9K
$299.2K – $398.9K
NOI $23,932 @ 7.0% cap · market cap 7.85%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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
Frequently Asked Questions
What type of property is this?
Flex space - Private commercial unit offering adaptable space for office, warehouse, workshop, showroom, or garage use.
Where is this flex space located?
The property is located at 940 McKinley Pkwy Unit 402 Delano, MN.
What is the asking price?
The asking price for this property is $305,000.
What are key features of this property?
This property features: 1,433 SF private flex unit in Phase 3; Optional mezzanine adds 608 or more SF for a total of 2,041 + SF; 20‑foot ceilings with 5‑inch concrete floors and floor drains
