Private Flex Unit with High
For Sale
$230,000
940 McKinley Pkwy Unit 408, Delano, MN 55328
Customizable private unit with office, workshop, showroom, or garage configuration options.
Property Size1,120 SF
Price / SF$205.36
Days on Market77
Property Features for 940 McKinley Pkwy Unit 408
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: Aug 1
Changed: Oct 1
Last Checked: Oct 7 at 1:02PM
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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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This private flex unit offers 1,120 square feet with a layout that can be tailored for office, workshop, showroom, or garage use. The unit includes 5-inch concrete floors with floor drains, 20-foot ceilings, commercial-grade windows, and a 14-foot-wide by 14-foot-tall garage door. A roughed-in bathroom, water and sewer connections, AC, and three-phase power are provided.
Fire suppression and in-floor radiant heating are included, with the option to add a split system for additional heating or cooling. The unit may also be expanded with a mezzanine of 448 square feet or more, creating 1,568-plus square feet. Located at 940 McKinley Pkwy Unit 408 in Delano, Minnesota, this Phase 3 property is scheduled for completion in late June 2026.
Fire suppression and in-floor radiant heating are included, with the option to add a split system for additional heating or cooling. The unit may also be expanded with a mezzanine of 448 square feet or more, creating 1,568-plus square feet. Located at 940 McKinley Pkwy Unit 408 in Delano, Minnesota, this Phase 3 property is scheduled for completion in late June 2026.
Key Highlights
- 1,120 SF private flex unit at 940 McKinley Pkwy Unit 408, Delano, MN 55328
- 5” concrete floors with floor drains and 20’ high ceilings
- 14' wide x 14' tall garage door with commercial‑grade windows and entry 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
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 - Customizable private unit with office, workshop, showroom, or garage configuration options.
Where is this flex space located?
The property is located at 940 McKinley Pkwy Unit 408 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 unit at 940 McKinley Pkwy Unit 408, Delano, MN 55328; 5” concrete floors with floor drains and 20’ high ceilings; 14' wide x 14' tall garage door with commercial‑grade windows and entry door
