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    Jon Whitcomb, Stillwater, MN

    License ID: MN 40365516
    Metro East Commercial Real Est
    Years of Experience
    16
    Association
    Minnesota Commercial Association Of Realtors

    Contact details

    Phone:
    (651) 351-5130
    Office Address:
    1305 Frontage Rd, Stillwater, MN, 55082

    Performance

    Listings
    16
    Total transactions
    21
    Total transactions amount
    $8M
    Price range
    $254k - 572k
    Average price
    $381k

    Listings

    For Sale (6)

    View map
    • $995,000
      5,300 SF

      White Bear Lake Restaurant/Apartment Building

      Restaurant with two apartments in White Bear Lake, Minnesota.
      4466 Centerville Rd, White Bear Lake, MN
      View Details
    • $200,000

      River Falls Commercial Land Available

      1.78 acre commercial land with highway frontage for sale.
      Paulson Rd, River Falls, WI 54022
      View Details
    • $55,000

      Chisago City Land Parcels

      Two land parcels in Chisago City with highway access.
      10368 Liberty Ln, Chisago City, MN 55013
      View Details
    • $3,300,000

      101.6 Acres Land For Sale

      101.6 acres of land with commercial/industrial zoning potential.
      566 County Road T, Hammond, WI 54015
      View Details
    • Contact for pricing

      Amery Commercial Land Available

      Three fully buildable lots with utility connections in place.
      S Industrial Park Rd, Amery, WI
      View Details
    • $2,745,000
      12,480 SF

      Broadway Business Center Retail Space

      Multitenant retail center in the Broadway Business district.
      555 W Broadway Ave, Forest Lake, MN
      View Details

    For Lease (10)

    View map
    • $22 SF/Yr
      4,790 SF

      Move-in Ready Class A Office

      Class A office space for lease in Hudson, Wisconsin.
      375 Stageline Rd, Hudson, WI 54016
      View Details
    • $20 SF/Yr
      825 SF

      Retail Center Space Available

      Retail space in multi-tenant center with highway frontage.
      5946-5988 N Osgood Ave, Oak Park Heights, MN 55082
      View Details
    • Contact for pricing
      7,356 SF

      Retail/Showroom Space with Dock Door

      Retail or showroom space featuring a dedicated entrance and signage.
      1754-1790 Washington Ave, Stillwater, MN 55082
      View Details
    • Contact for pricing
      900 SF

      Mahtomedi Office Space For Rent

      900 square foot office space available for rent.
      758 Stillwater Rd, Mahtomedi, MN 55115
      View Details
    • $12 SF/Yr
      4,032 SF

      Maplewood Office/Showroom Space Available

      Office/showroom space with easy access to 94 and Century Ave.
      21 Century Ave S, Maplewood, MN 55119
      View Details
    • $13 SF/Yr
      2,155 SF

      Stillwater Office Space For Lease

      2,155 SF office space available November 1, 2025.
      1395 Curve Crest Blvd, Stillwater, MN 55082
      View Details
    • $20 SF/Yr
      1,666 SF

      Oak Park Heights Retail/Office

      Professional retail or office space with ample parking.
      13999 60Th St N, Oak Park Heights, MN 55082
      View Details
    • $6 SF/Yr
      360 SF

      Somerset Cold Storage Space Available

      Cold storage space available for rent in Somerset, Wisconsin.
      598 180Th Ave, Somerset, WI 54025
      View Details
    • $15 SF/Yr
      2,780 SF

      Professional Office or Medical Space

      Office or medical space with ample parking and private entrance.
      6861 Upper Afton Rd, Woodbury, MN
      View Details
    • $15 SF/Yr
      1,512 SF

      Creative Space in Historic Building

      Office suite in Stillwater's historic post and beam warehouse.
      402 Main St N, Stillwater, MN 55082
      View Details

    Leases and Sales on Map

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    Jon Whitcomb, Stillwater, MN
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    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.

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    Jon Whitcomb, Stillwater, MN
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