Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    4201 Norex Dr Chaska, MN 55318-3046
    Back to Search
    Property profile & analytics

    4201 Norex Dr, Chaska, MN 55318-3046

    View on Map
    • Manufacturing properties
    • 96,422 SF
    • 11.92 lot acres
    Off-Market
    Last Sale Dec 29, 2020
    $4,750,000
    Property ID
    US46-0315944
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $4,965,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Noonan Heating & Cooling Company / HVAC Service / General Contractor
    • Wigen Water Technologies / Water Works Equipment Supplier / Water Treatment Plant
    • Electrical Production Services / Electrical Service / General Contractor

    Property Details for 4201 Norex Dr

    Year built
    1990
    Lot size
    11.92 lot acres
    Property type
    Manufacturing properties
    APN
    30-0540010
    APU
    300540010

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,125,000
      ML approach
      $5,230,000

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $3,320,000
      Current use
      WAREHOUSE, STORAGE
      $4,510,000
      Change: +36% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Chaska
    County
    Carver
    State
    Minnesota
    Longitude
    -93.5886
    Latitude
    44.8533
    CBSA code
    33460
    CBSA name
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $203,172
    $1,654,500
    $5,690,900
    $7,345,400
    -
    $1,654,500
    $5,690,900
    $7,345,400

    Comparable in this City

    • Value Estimation
      $1,710,000
      114,880 SF

      122 Columbia Ct

      MANUFACTURING (LIGHT)
      122 Columbia Ct, Chaska, MN 55318-2304
      View Details
    • Value Estimation
      $710,000
      17,440 SF

      108 Peavey Rd

      MANUFACTURING (LIGHT)
      108 Peavey Rd, Chaska, MN 55318-2324
      View Details
    • Value Estimation by Request
      16,000 SF

      3740 Chestnut St

      Life science properties
      3740 Chestnut St, Chaska, MN 55318
      View Details
    • Value Estimation
      $1,305,000
      15,000 SF

      119 Jonathan Blvd

      MANUFACTURING (LIGHT)
      119 Jonathan Blvd, Chaska, MN 55318-2342
      View Details
    • Value Estimation
      $1,120,000
      61,459 SF

      1234 Lakeview Dr

      MANUFACTURING (LIGHT)
      1234 Lakeview Dr, Chaska, MN 55318-9506
      View Details
    • Value Estimation
      $1,090,000
      23,524 SF

      3515 Lyman Blvd

      MANUFACTURING (LIGHT)
      3515 Lyman Blvd, Chaska, MN 55318-3050
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      30,840 SF

      Chaska Industrial Building with High Power

      39,840 SF industrial building with high power and ample parking.
      343 E 82Nd St, Chaska, MN 55318
      View Details
    • Contact for pricing
      61,036 SF

      Food Processing Building For Sale

      61,036 SF food processing building with freezer and cooler.
      300 Lake Hazeltine Dr, Chaska, MN 55318
      View Details
    • Contact for pricing
      46,072 SF

      Chaska Warehouse with Office Space

      46,072 SF building with warehouse and office space.
      1550 Audubon Rd, Chaska, MN 55318
      View Details
    • Contact for pricing
      57,135 SF

      Chaska Office and Warehouse Building

      57,135 SF office/warehouse on 4.8 acres in Chaska, MN.
      1200 Lakeview Dr, Chaska, MN 55318
      View Details
    • New
      $2,000,000
      5.96 Acres

      Land for Auto Salvage Operation

      6-acre site ideal for auto salvage or overflow lot.
      285 Flying Cloud Dr, Chanhassen, MN 55318
      View Details
    • Contact for pricing

      Land with Highway Access

      Land for sale with access to multiple highways.
      1580 White Oak Dr, Chaska, MN 55318
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      31,500 SF

      New Industrial Development in Chaska

      Industrial facility with freeway access and adaptable space.
      1215 Chaska Creek Blvd, Chaska, MN 55318
      View Details
    • Contact for pricing
      28,538 SF

      Chaska Warehouse with Air Conditioning

      28,538 SF industrial/warehouse space available for sublease in Chaska.
      4264 Norex Dr, Chaska, MN 55318
      View Details
    • Contact for pricing

      Chaska Shop with Outside Storage

      4,800 SF shop with +1.25 acres outside storage.
      525 Creekridge Dr, Chaska, MN 55318
      View Details
    • $6 SF/Yr
      31,200 SF

      Functional Warehouse Space Available

      Sublease opportunity in Chanhassen with dock and drive-in loading.
      8115 Century Blvd, Chaska, MN 55318
      View Details
    • Contact for pricing
      189,000 SF

      Modern Warehouse and Distribution Space

      Prime industrial development in Carver, Minnesota, with excellent accessibility.
      Jonathan Carver Pkwy & Levi Griffin Rd, Chaska, MN 55318
      View Details
    • Contact for pricing
      145,900 SF

      New Industrial Development in Chanhassen

      New industrial development with easy access to Highway 212.
      Hwy 212 & Powers Blvd, Chanhassen, MN 55318
      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.
    4201 Norex Dr
    Chaska, MN 55318-3046
    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
    4201 Norex Dr, Chaska, MN, 55318
    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!