Office/Warehouse Flex
For Sale
$230,000
940 McKinley Parkway #404, Delano, MN 55328
Private Phase 3 flex unit features 20' ceilings, 5-inch concrete floors, and 14' wide by 14' tall garage door.
Property Size1,120 SF
Price / SF$205.36
Days on Market131
Property Features for 940 McKinley Parkway #404
General Information
Standard status
Active
Size
1,120 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 23
Changed: Jul 23
Last Checked: Jul 31 at 1:13PM
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.
Phase 3 private flex unit for sale offers a flexible layout that can be customized into an office/warehouse, workshop, showroom, or other specialty use. The unit is built with 5-inch concrete floors with floor drains and 20' high ceilings. It includes commercial-grade windows plus a 14' wide by 14' tall entry door and garage door, along with LP Smartside lap siding.
The building systems include fire suppression, in-floor radiant heating, and 3-phase power. The unit is plumbed with water and sewer, has a roughed-in bathroom, and is available with options for added interior amenities such as a kitchenette or wet bar. A mezzanine level can be added to increase usable space by an additional 448+ SF, bringing the unit to 1,568+ SF.
Construction for Phase 3 is scheduled for completion in late June 2026, and reservations are currently being taken.
The building systems include fire suppression, in-floor radiant heating, and 3-phase power. The unit is plumbed with water and sewer, has a roughed-in bathroom, and is available with options for added interior amenities such as a kitchenette or wet bar. A mezzanine level can be added to increase usable space by an additional 448+ SF, bringing the unit to 1,568+ SF.
Construction for Phase 3 is scheduled for completion in late June 2026, and reservations are currently being taken.
Key Highlights
- Private Phase 3 flex unit with 20' ceilings and 5‑inch concrete floors with floor drains
- 14' wide x 14' tall garage door plus commercial‑grade windows and entry door
- Option to add a mezzanine level for 1,568+ SF total area (additional 448+ SF)
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 | $24.6k | $21.96 |
| − Vacancy | −$1.2k | −$1.10 |
| EGI | $23.4k | $20.86 |
| − OpEx | −$8.2k | −$7.30 |
| NOI | $15.2k | $13.56 |
1,120 SF · lease $21.96/SF/yr · vacancy 5.00% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$217.0K
$189.9K – $253.1K
NOI $15,188 @ 7.0% cap · market cap 6.60%
Second Best
Warehouse
$211.1K
$184.7K – $246.3K
NOI $14,775 @ 7.0% cap · market cap 6.42%
Theoretical Best
Office A
$267.2K
$233.8K – $311.8K
NOI $18,705 @ 7.0% cap · market cap 8.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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
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 - Private Phase 3 flex unit features 20' ceilings, 5-inch concrete floors, and 14' wide by 14' tall garage door.
Where is this flex space located?
The property is located at 940 McKinley Parkway #404 Delano, MN.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: Private Phase 3 flex unit with 20' ceilings and 5‑inch concrete floors with floor drains; 14' wide x 14' tall garage door plus commercial‑grade windows and entry door; Option to add a mezzanine level for 1,568+ SF total area (additional 448+ SF)
