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    16765 198th Avenue NW, Big Lake, MN 55309

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    For Sale
    $299,900

    Commercial - Big Lake, MN

    Property size:
    1,500 SF
    Lot size:
    0.04 Acres
    Price / SF:
    $199/SF
    Added:
    May 31, 2025
    Days on Market:
    356
    Last Refresh:
    May 21 at 7:06 am

    Property Features for 16765 198th Avenue NW

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Business/Commercial,Other
    Parking features
    Driveway, Garage, Guest, Heated, RV, Secured
    Exterior features
    Metal
    Standard status
    Active
    APN
    65006050405
    Size
    1,500 SF
    Lot size
    0.04 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    3000

    Utilities

    Heating system
    Ductless (Heating)
    Cooling system
    Ductless

    Building Details

    Year built
    2022
    Flooring type
    Concrete, Drainage, Other
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    John Olson

    Listing agent John Olson

    Listing office Fish MLS Realty 11140 Zealand Avenue N, Champlin, MN

    Listing date May 31, 2025

    MLS# 6730447 Listing URL

    Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Oversized 60’ x 25’ end unit car condo with 14’ x 14’ commercial‑grade overhead door.
    • Secure, gated campus with 24/7 automated access and smartphone‑enabled security cameras.
    • Mezzanine loft (14’ x 25’) featuring handcrafted wood finishes, built‑in cabinetry, and a bar area.
    • Equipped for vehicle maintenance: concrete floors suitable for lifts and an 8’ floor drain.
    • Year‑round comfort with in‑floor radiant heat (Wi‑Fi controlled) and mini‑split air conditioning.
    • Modern amenities include 100 AMP electrical service, LED high bay lighting, and fiber optic high‑speed internet.

    Overview

    This end unit car condo offers natural light, privacy, and minimal shared walls. The space measures 60 feet deep by 25 feet wide and features a 14 x 14 foot commercial-grade overhead door suitable for oversized vehicles, boats, or RVs. The unit includes concrete floors suitable for 4-post lifts and footings prepped for 2-post lifts, steel interior walls, and R50 ceiling insulation. An 8-foot floor drain facilitates car washing or workshop use, while in-floor radiant heat (Wi-Fi controlled) and mini-split air conditioning ensure year-round comfort. The interior features epoxy-coated concrete floors, a powder bath, and a 14 x 25 foot mezzanine loft with handcrafted wood finishes, built-in white wood cabinetry, custom wrought iron railings, and commercial-grade LVT flooring. A bar area includes porcelain tile floors, under-bar accent lighting, and solid wood countertops. Modern conveniences include 100 AMP electrical service, LED high bay lighting, fiber optic high-speed internet, and sliding, ventilating high-efficiency windows. The secure gated campus provides 24/7 automated access, smartphone-enabled security cameras, and a community clubhouse. HOA dues cover trash removal, landscaping, snow removal, internet, and security features. The property has Key West-inspired architecture and cold water spigots inside and out. The property is located in Big Lake, MN, with zoning for Business/Commercial use.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Busted Knuckle Garage ... Association Or Organization Big Lake Car ... Storage Facility

    Suggested Use

    Restaurant Building Supply Dental Office Auto Repair Shop Hotel & Motel Department Store Accounting Firm Storage Facility Bar & Pub Car Rental Facility

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • H2Outfitters Marine & Sport Repair — 17207 198th Ave, Big Lake, MN 55309

    Location Insight

    • Map
    • Local Demand
    City
    Big Lake
    County
    Sherburne
    State
    Minnesota
    Longitude
    -93.6911657
    Latitude
    45.3302904

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    FAQs

    What type of property is this?
    Parking lot & garage - Car condo with high-end finishes and security features.
    Where is this parking lot & garage located?
    The property is located at 16765 198th Avenue NW Big Lake, MN.
    What is the asking price?
    The asking price for this property is $299,900.
    What are key features of this property?
    This property features: Oversized 60’ x 25’ end unit car condo with 14’ x 14’ commercial‑grade overhead door.; Secure, gated campus with 24/7 automated access and smartphone‑enabled security cameras.; **Mezzanine loft (14’ x 25’) featuring handcrafted wood finishes, built‑in cabinetry, and a bar area.**
    (763) 568-3527
    We can help!
    Listing Contact
    John Olson
    Learn More
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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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