Customizable Flex Space
For Sale
$230,000
940 McKinley Pkwy Unit 406, Delano, MN 55328
Private commercial unit with workshop, showroom, and office/warehouse configuration options.
Property Size1,120 SF
Price / SF$205.36
Days on Market80
Property Features for 940 McKinley Pkwy Unit 406
General Information
Standard status
Active
Size
1,120 SF
Additional Details
Utilities to Site
Yes
Sprinkler System
Yes
Office Units
1
Building Details
Year Built
2026
Tenancy
Single
Abandoned
No
Listing Agency:
eXp Realty
Listed By:
Martin Turner
(612) 695-0167
Source:
Searchhousesnow
Added: Jul 29
Changed: Oct 2
Last Checked: Oct 7 at 3:25PM
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 SF flex space unit is designed for adaptable commercial use, with a 20-foot ceiling, 5-inch concrete floor, floor drains, and a 14-foot-wide by 14-foot-tall garage door. Commercial-grade windows, an entry door, LP SmartSide lap siding, fire suppression, and in-floor radiant heating are included. A split system can be added for supplemental heating or cooling.
The unit is wired for 3-phase power and AC and includes water and sewer connections with a roughed-in bathroom. Interior customization options include an added bathroom, wet bar, kitchenette, or hot tub. A mezzanine addition can provide another 448 SF or more, creating 1,568+ SF of space. Unit 406 is located at 940 McKinley Pkwy in Delano, Minnesota, and is part of Phase 3, scheduled for completion in late June 2026.
The unit is wired for 3-phase power and AC and includes water and sewer connections with a roughed-in bathroom. Interior customization options include an added bathroom, wet bar, kitchenette, or hot tub. A mezzanine addition can provide another 448 SF or more, creating 1,568+ SF of space. Unit 406 is located at 940 McKinley Pkwy in Delano, Minnesota, and is part of Phase 3, scheduled for completion in late June 2026.
Key Highlights
- 1,120 SF private flex space unit at 940 McKinley Pkwy Unit 406
- 20‑foot ceilings and 5‑inch concrete floors with floor drains
- 14' wide x 14' tall garage door
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,188
Cap Rate
6.60%
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 6.60%
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.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
1
Office units
Single-tenant
Tenancy
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 with workshop, showroom, and office/warehouse configuration options.
Where is this flex space located?
The property is located at 940 McKinley Pkwy Unit 406 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: 1,120 SF private flex space unit at 940 McKinley Pkwy Unit 406; 20‑foot ceilings and 5‑inch concrete floors with floor drains; 14' wide x 14' tall garage door
