6407 Penn Ave S, Richfield MN 55423 — Lease in Minneapolis, MN

  • Price: Contact for price
  • Listing type: For lease
  • Asset type: Industrial Property
  • Location: Minneapolis, MN 55423
  • Size: 6,000 SF

Description

This clean, functional space features a drive-in door, 10' clear height, 12'6" column spacing, and 120V/240V electric—ideal for light industrial, service, or contractor use. Includes private office, restroom, storage room, and floor drain. Heated by an overhead gas unit with private parking onsite. Excellent central location with easy access to major highways. Building SF: 6000 | Listing Type: FOR LEASE

Market Context

This industrial in Minneapolis, MN is listed for lease across 6,000 SF. It has been on the market for 71 days. Compare it against other industrial listings for lease in Minneapolis, MN — view the full market.

As of Q1 2026, the Minneapolis industrial market showed a 4.0% vacancy rate, average asking rents near $8.00/SF/yr, and cap rates around 5.8%. Source: multiple brokerage reports, Q1 2026.

Tight vacancy keeps competition for quality space elevated.

Industrial market FAQ

What is the typical cap rate for industrial in Minneapolis?
About 5.8% as of Q1 2026, per multiple brokerage reports.
Is the Minneapolis industrial market tightening or softening?
Vacancy is around 4.0% (Q1 2026).

Estimated Market Rate

$0.66/SF/mo – $0.90/SF/mo

Mid: $0.78/SF/mo

Estimated total for 6,000 SF: $4,680 per month

Rate-first confidence-weighted blend with cost-of-business adjustment.

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