Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    940 Mckinley Pkwy Delano, MN 55328

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    940 Mckinley Pkwy Delano, MN 55328

    View on Map
    • Commercial real estate
    • 1,932 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 940 Mckinley Pkwy

    Year built
    2023
    Property size
    1,932 SF
    Property type
    Commercial real estate

    Description

    This exceptional 1,932 sq ft industrial unit, located at 940 McKinley Parkway Unit 111, Delano, MN, presents a unique opportunity for a variety of commercial uses. Currently move-in ready, the space boasts 5" concrete floors with floor drains, and impressive 20' high ceilings, providing ample room for customization. The unit features commercial-grade windows, a 16' wide x 14' tall garage door, and attractive LP Smartside lap siding. It's equipped with fire suppression, in-floor radiant heating (with the option to add a split system for additional heating/cooling), and is wired with 3-phase power and AC, and plumbed with water and sewer. A roughed-in bathroom is also included. Expansion possibilities are significant

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Delano
    County
    Wright
    State
    Minnesota
    Longitude
    -93.8115
    Latitude
    45.0521

    Comparable in this City

    • Value Estimation by Request
      1,120 SF

      940 Mckinley Pkwy

      Distribution properties • 1,120 SF
      940 Mckinley Pkwy, Delano, MN 55328
      View Details
    • Value Estimation by Request
      1,520 SF

      942 Mckinley Pkwy

      Commercial real estate • 1,520 SF
      942 Mckinley Pkwy, Delano, MN 55328
      View Details
    • Value Estimation by Request
      1,120 SF

      940 Mckinley Pkwy

      Commercial real estate • 1,120 SF
      940 Mckinley Pkwy, Delano, MN 55328
      View Details
    • Value Estimation by Request
      1,040 SF

      942 Mckinley Pkwy

      Commercial real estate • 1,040 SF
      942 Mckinley Pkwy, Delano, MN 55328
      View Details
    • Value Estimation by Request
      3,600 SF

      710 Johnson Dr

      Commercial real estate • 3,600 SF
      710 Johnson Dr, Delano, MN 55328
      View Details
    • Value Estimation by Request
      3,840 SF

      216 Riv N St

      COMMERCIAL (GENERAL) • 3,840 SF
      216 Riv N St, Delano, MN 55328-9319
      View Details

    Similar Nearby for Sale

    • $179,000
      1,040 SF

      Delano Commercial Unit - Prime Location

      Versatile 1040 sq ft unit, customizable space.
      942 Mckinley Pkwy, Delano, MN 55328
      View Details
    • $179,000
      1,040 SF

      942 Mckinley Pkwy, Delano, MN 55328

      Commercial real estate • 1,040 SF
      942 Mckinley Pkwy, Delano, MN 55328
      View Details
    • $179,000
      1,040 SF

      Delano Commercial Unit - Prime Location

      High-end customizable unit, 1040+ sq ft.
      942 Mckinley Pkwy, Delano, MN 55328
      View Details
    • $329,000
      1,520 SF

      942 Mckinley Pkwy, Delano, MN 55328

      Commercial real estate • 1,520 SF
      942 Mckinley Pkwy, Delano, MN 55328
      View Details
    • $309,000
      1,520 SF

      Delano Commercial Unit - Prime Location

      High-end customizable unit, 1520+ sq ft.
      942 Mckinley Pkwy, Delano, MN 55328
      View Details
    • $179,000
      1,040 SF

      Delano Commercial Unit - Prime Location

      High-end customizable commercial space.
      942 Mckinley Pkwy, Delano, MN 55328
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,400 SF

      Retail Space in Delano, MN

      Retail space available for lease in Delano, Minnesota.
      1480 Johnson Dr, Delano, MN 55328
      View Details
    • $12 SF/Yr
      1,127 SF

      Retail Space in Delano

      Retail space available for lease in Delano, Minnesota.
      600 Babcock Blvd E, Delano, MN 55328
      View Details
    • Contact for pricing
      1,155 SF

      Delano Warehouse Space Available

      Industrial warehouse space for lease in Delano, Minnesota.
      4306 Highway 12, Delano, MN 55328
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    940 Mckinley Pkwy
    Delano, MN 55328
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry

    940 Mckinley Pkwy, Delano, MN, 55328

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!