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21475 Heath Ave 12,800 SF Industrial Building Lakeville, MN 55044 $1,990,000 ($155.47/SF)
Investment Highlights
- Approximately 12,800 SF office-warehouse on 1.52 acres in Airlake Industrial Park.
- Clear heights ranging from 12 to 16 feet for versatile storage and operations.
- Convenient access to I-35 and major transportation corridors in a strong industrial market.
- Two drive-in doors (12’x12’ and 8’x10’) and one dock door for flexible loading options.
- Recent upgrades include new HVAC (2021) and new roof (2024) with transferable warranty.
Executive Summary
This well-maintained office-warehouse property offers a rare opportunity in Lakeville’s Airlake Industrial Park, a highly desirable business hub with excellent access to major transportation corridors. The 12,800 SF building includes approximately 2,000 SF of office space featuring a reception area, private offices, open workspace, break room, and restrooms, complemented by 10,800 SF of warehouse space designed for efficient operations.
The warehouse is equipped with two drive-in doors (12’x12’ and 8’x10’) and one dock door, with clear heights ranging from 12 to 16 feet to accommodate diverse storage and operational needs. Recent capital improvements include new HVAC systems installed in 2021 and a new roof completed in October 2024 with a transferable warranty. The site has been consistently maintained with seal coating and striping completed in August 2022 and ongoing annual crack filling.
Zoned I-2 (General Industrial), the property supports a wide range of industrial uses. Its strategic location within Airlake Industrial Park provides excellent access to major highways, including I-35, and a strong surrounding business environment, making it an attractive option for both users and investors.
The warehouse is equipped with two drive-in doors (12’x12’ and 8’x10’) and one dock door, with clear heights ranging from 12 to 16 feet to accommodate diverse storage and operational needs. Recent capital improvements include new HVAC systems installed in 2021 and a new roof completed in October 2024 with a transferable warranty. The site has been consistently maintained with seal coating and striping completed in August 2022 and ongoing annual crack filling.
Zoned I-2 (General Industrial), the property supports a wide range of industrial uses. Its strategic location within Airlake Industrial Park provides excellent access to major highways, including I-35, and a strong surrounding business environment, making it an attractive option for both users and investors.
Property Facts
| Price | $1,990,000 | Rentable Building Area | 12,800 SF |
| Price Per SF | $155.47 | No. Stories | 1 |
| Sale Type | Investment or Owner User | Year Built | 1979 |
| Property Type | Industrial | Tenancy | Single |
| Property Subtype | Manufacturing | Parking Ratio | 4.25/1,000 SF |
| Building Class | C | No. Dock-High Doors/Loading | 1 |
| Lot Size | 1.52 AC | No. Drive In / Grade-Level Doors | 2 |
| Zoning | I-2 - General Industrial | ||
| Price | $1,990,000 |
| Price Per SF | $155.47 |
| Sale Type | Investment or Owner User |
| Property Type | Industrial |
| Property Subtype | Manufacturing |
| Building Class | C |
| Lot Size | 1.52 AC |
| Rentable Building Area | 12,800 SF |
| No. Stories | 1 |
| Year Built | 1979 |
| Tenancy | Single |
| Parking Ratio | 4.25/1,000 SF |
| No. Dock-High Doors/Loading | 1 |
| No. Drive In / Grade-Level Doors | 2 |
| Zoning | I-2 - General Industrial |
Amenities
- Signage
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Tee Jay North Inc
- Retailer
- -
- -
- -
The brothers Thomas J. Smith and Horton A. Smith founded Tee Jay Service Company in 1964 in Brookfield, Illinois. The name, Tee Jay Service, was derived from Tom's initials, T.J.S. Tee Jay was the phonetic spelling of his first two initials and Service represented the overall philosophy of the new company. Horton, the former Midwest manufacturer's representative of Horton Automatic Door Company, felt that he and his brother could better serve the growing customer base in the automatic door industry. From the beginning, the two brothers tried different approaches and marketing ideas to better assist their customers.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Tee Jay North Inc | Retailer | - | - | - |
1 1
Somewhat walkable
20/100
Exceptionally drivable
100/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 22-11101-03-160 | Improvements Assessment | $1,101,800 |
| Land Assessment | $309,000 | Total Assessment | $1,410,800 |
Property Taxes
Parcel Number
22-11101-03-160
Land Assessment
$309,000
Improvements Assessment
$1,101,800
Total Assessment
$1,410,800
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21475 Heath Ave
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