Customizable Flex
For Sale
$235,000
940 McKinley Pkwy Unit 403, Delano, MN 55328
Private commercial unit with workshop, showroom, office, and warehouse configuration options.
Property Size1,120 SF
Price / SF$209.82
Days on Market89
Property Features for 940 McKinley Pkwy Unit 403
General Information
Standard status
Active
Size
1,120 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:
Vibemn
Added: Jul 20
Changed: Oct 2
Last Checked: Oct 7 at 5:36PM
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 1,120-square-foot private flex unit is designed for adaptable commercial use, with customization options for office, warehouse, workshop, showroom, or garage applications. The unit includes 5-inch concrete floors with floor drains, 20-foot ceilings, commercial-grade windows, a 14-foot-wide by 14-foot-tall garage door, and an entry door. An optional mezzanine can add 448 or more square feet, bringing the total to 1,568 or more square feet.
Building systems include three-phase power, AC, water and sewer connections, fire suppression, and in-floor radiant heating. A bathroom is roughed in, with additional options available for a bathroom, wet bar, kitchenette, or hot tub. The unit is part of Phase 3 at 940 McKinley Pkwy Unit 403 in Delano, Minnesota, with completion planned for late June of 2026.
Building systems include three-phase power, AC, water and sewer connections, fire suppression, and in-floor radiant heating. A bathroom is roughed in, with additional options available for a bathroom, wet bar, kitchenette, or hot tub. The unit is part of Phase 3 at 940 McKinley Pkwy Unit 403 in Delano, Minnesota, with completion planned for late June of 2026.
Key Highlights
- 1,120 SF private flex unit at 940 McKinley Pkwy Unit 403, Delano, MN 55328
- 20’ ceilings with 5” concrete floors and floor drains
- 14' wide x 14' tall garage door
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,188
Cap Rate
6.46%
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 6.46%
Second Best
Warehouse
$211.1K
$184.7K – $246.3K
NOI $14,775 @ 7.0% cap · market cap 6.29%
Theoretical Best
Office A
$267.2K
$233.8K – $311.8K
NOI $18,705 @ 7.0% cap · market cap 7.96%
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 Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - Private commercial unit with workshop, showroom, office, and warehouse configuration options.
Where is this flex space located?
The property is located at 940 McKinley Pkwy Unit 403 Delano, MN.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: 1,120 SF private flex unit at 940 McKinley Pkwy Unit 403, Delano, MN 55328; 20’ ceilings with 5” concrete floors and floor drains; 14' wide x 14' tall garage door
