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    New Construction Garage Flex Suites Title is generated by Realmo AI

    9781 NE 71st Street, Otsego, MN 55301

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    Commercial - Otsego, MN

    Property size:
    3,480 SF
    Lot size:
    3.49 Acres
    Price / SF:
    $0.55/SF
    Added:
    Jun 12, 2025
    Days on Market:
    356
    Last Refresh:
    Jun 2 at 6:06 pm

    Property Features for 9781 NE 71st Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Business/Commercial,Industrial
    Parking features
    Driveway, Garage, Garage - Attached, Heated, Parking Lot, Paved or Surfaced
    Exterior features
    Brick/Stone, Metal
    Standard status
    Active
    APN
    118238001020
    Size
    3,480 SF
    Lot size
    3.49 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    2224

    Utilities

    Heating system
    Forced Air

    Building Details

    Year built
    2025
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Dustin Heggem
    Dustin Heggem

    Listing agent Dustin Heggem

    Listing office Acuity Group 564 Dodge Ave. Ste. A, Elk River, MN

    Listing date Jun 12, 2025

    MLS# 6738049 Listing URL

    Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • New construction in I‑94 West Industrial Park
    • Direct freeway visibility and convenient access (less than 2 miles to I‑94)
    • 18’ ceilings and 12’x14’ overhead door
    • Natural gas heat and 100‑amp service
    • Roughed‑in 3/4‑bathroom, wash tub, and hose bib
    • 5” concrete floor with floor drain

    Overview

    This offering features newly constructed garage-style flex suites in the I-94 West Industrial Park. Base suites are sized at 28’ x 60’ (1,680 sq. ft.), with one larger option at 58’ x 60’ (3,480 sq. ft.). An additional 16’ mezzanine can be added. Each unit is built for practical day-to-day operations, including natural gas heat, 100-amp electrical service, and a roughed-in 3/4 bathroom. Convenience features include a wash tub and hose bib, plus 5” concrete floors with a floor drain. Clear height is supported by 18’ ceilings, complemented by a 12’ x 14’ overhead door.

    The property is located in Otsego, Minnesota, within a business/commercial and industrial zoning setting. The complex has direct freeway visibility, and the location is less than 2 miles from the Albertville Interstate 94 on/off ramp, supporting easy access for employees, vendors, and service traffic.

    These suites should appeal to operators seeking flexible light industrial and storage use with a built-in office or support component, given the roughed-in bathroom and functional utilities. The overhead door, floor drain, and ceiling height make the space well-suited for trades, light manufacturing, distribution, and equipment-oriented businesses that need straightforward, garage-ready access.
    Property Profile Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Restaurant Real Estate Agency Building Supply Big Box & Wholesale Store Auto Repair Shop Hair Salon Gym & Fitness Center Auto Parts Store Storage Facility Bar & Pub

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Otsego
    County
    Hennepin
    State
    Minnesota
    Longitude
    -93.688015
    Latitude
    45.253233

    Nearby Similar for Sale

    • $310,000
      3,480 SF

      New Construction Industrial Garage Suites

      New industrial garage suites offer natural gas heat, 18’ ceilings, and service-ready buildouts with optional mezzanine.
      9781 NE 71st Street, Otsego, MN 55330
      View Details
    • $333,900
      1,200 SF

      Garage Condos For Sale

      Customizable garage condos ideal for business or storage.
      7041 Kagan Avenue, Otsego, MN 55301
      View Details

    FAQs

    What type of property is this?
    Flex space - New flex/warehouse suites with 12’x14’ overhead doors, natural gas heat, and optional mezzanine.
    Where is this flex space located?
    The property is located at 9781 NE 71st Street Otsego, MN.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: New construction in I‑94 West Industrial Park; Direct freeway visibility and convenient access (less than 2 miles to I‑94); 18’ ceilings and 12’x14’ overhead door
    (763) 633-3535
    We can help!
    Listing Contact
    Dustin Heggem
    Dustin Heggem
    Real Estate License ID: 40416985
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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