The industrial building at 5215 Gershwin Ave. N. in Oakdale is presently used as a combination office-showroom but could be converted to warehouse use with ease. (Photo: Catylist)

The Blueprint

A 10,350-square-foot Oakdale warehouse/light industrial property is asking $1.06 million.
A 2.15-acre Bloomington industrial site with a 600-foot rail spur is listed for $1.399 million.
The Bloomington property includes a material-handling silo, truck scale and receiving pit for aggregate operations.
An 18-unit Minneapolis apartment complex near Powderhorn Park is fully leased and listed for $1.9 million.

On the Market takes an eclectic turn this week with three smaller properties seeking new owners and/or occupants.

Two are at various points on the “industrial” gradient: a functional warehouse/light manufacturing facility and a rail-connected pad most recently used for aggregate production and storage. The third is a small multifamily community with value-add potential.

Oakdale light industrial

Our first stop is a 10,350 square-foot warehouse-type space that’s ripe for custom demisement. Located on the north side of Oakdale, it boasts easy access to Highway 36 and Interstate 694, and thus broad swathes of the north and east metro submarkets.

The building is presently used as a combination office-showroom but could be converted to warehouse use with ease, Cetra Partners principals Jay Chmieleski, Dan Friedner and Patrick Cullen say.

Internal schematics show one half — around 6,000 square feet — is nearly entirely open, with clear heights ranging from around 10 to nearly 13 feet and one grade-level door offering loading access (with room for more, the brokers say). Conference and planning rooms, small offices and common areas (including a lunchroom) occupy part of the other side. Twenty-eight parking stalls and a secure storage/staging area comprise the bulk of the parcel’s unroofed square footage.

The building has been a neighborhood fixture for almost 50 years. The western portion went up in 1978; the eastern portion followed 10 years later. Notably, both sides are climate-controlled.

Address: 5215 Gershwin Ave. N., Oakdale

Type: Warehouse/light industrial

Square Footage: 10,350 square feet

Asking Price: $1.06 million

Seller: Gast Prop, LLC (Broken Arrow, Oklahoma)

Listing Broker: Jay Chmieleski, Dan Friedner & Patrick Cullen, Cetra Partners

Bloomington rail industrial

Separated from the surrounding residential neighborhoods by trees and low-slung industrial buildings, this 2.15-acre parcel is an unusual find in quiet west Bloomington — and an appealing one for the right buyer.

With its principal building — a material handling silo — clocking in under 2,000 square feet, most of this property is open to the elements. But that’s just fine for the sorts of heavy-duty sorting, processing and loading it’s set up for. The silo sits atop a drive-under scale for trucks loading up on gravel and other aggregates, and next to a receiving pit served by a 600-foot rail segment that curves through the western and northern portion of the property before exiting to the east.

This is a spur line built, it appears, to serve only this property. It connects to a busier north-south rail artery that runs through the south metro before terminating in the Windom industrial area of south-central Minneapolis. The next owner doesn’t have to use it, of course, but it’s an attractive asset — and the parcel’s I-3 zoning permits a whole slew of industrial uses that could benefit from it.

Address: 530 86th St. W., Bloomington

Type: Industrial

Square Footage: 1,961 square feet / 2.15 acres

Asking Price: $1.399 million

Seller: Aggregate Industries – North Central Region (Dundee, MI)

Listing Broker: Joseph Elam, Commercial Realty Solutions

Bloomington Square Apartments

Head a couple miles north and east of that rail line’s terminus and you’ll reach this fully leased 18-unit Minneapolis apartment complex within walking distance of Powderhorn Park, one of the area’s most popular green spaces.

Built in 1962 in the columned style typical of the period and clad in bright-red brick, it has six one-bed/one-bath apartments and 12 two-bed/one-bath apartments cooled by in-the-wall air conditioning units and served by in-building laundry. Recent improvements include modern double-hung windows and a new water heater, broker Nathan Opatz says. Also notable: four tuck-under garages in the lower level.

Address: 3412 Bloomington Ave., Minneapolis

Type: Multifamily

Square Footage/Unit Count: 18 units

Asking Price: $1.9 million

Seller: Bloomington Square Apt, LLC (Woodbury)

Listing Broker: Nathan Opatz, Apartment Cash Flow

Home

On the Market: Oakdale, Bloomington industrial properties