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    The Largest CRE Database in the US with Over 1 Million Listings

    23773 Johnson St NE East Bethel, MN 55005

    Sponsored
    For Sale
    Pending
    $1,175,000

    Commercial - East Bethel, MN

    Lot size:
    2.00 Acres
    Days on Market:
    10
    Last Refresh:
    Feb 5 at 8:06 am

    Property Features for 23773 Johnson St NE

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Pending
    Zoning
    Business/Commercial
    APN
    293423340010
    Parking features
    Parking Lot
    Exterior features
    Block
    Lot size
    2.00 Acres

    Utilities

    Heating system
    Forced Air

    Building Details

    Year built
    2006
    Architectural style
    Other

    We can help!

    Listing Contact
    Chad Heer

    Keller Williams Integrity Realty (651) 203-1700

    Listing agent Chad Heer (651) 203-1700

    Listing date Jan 27, 2026

    MLS# 6732910 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.

    Learn more

    Property Insight Report

    Overview

    East Bethel Office/Warehouse For Sale

    This well-constructed office/warehouse and industrial-office warehouse building is available for sale and possibly for lease. Situated directly on Highway 65, the property benefits from high visibility and convenient access. The building, constructed in 2006, offers approximately 9,015 square feet of total space, with additional storage or office space available. The layout includes front offices, a rear warehouse, and a mezzanine level of approximately 900 square feet. Ample parking is provided in both the front and rear of the building, and building signage is available, subject to city approvals. The property features an air-conditioned bus duct system, with 400 AMPS in the South Bay and 800 AMPS in the two North Bays. The property is zoned for business and commercial use. The adjacent vacant lot is also available for purchase. The building is currently occupied by two tenants under lease agreements.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    All Mac Inc. ... Production Facility Knowlton's Thunderheads and Racing ... Auto Repair Shop MOAT Trailers, Inc. Car Dealership U-Haul Neighborhood Dealer Car Rental Facility Allwayz Auto Sales ... Big Box & Wholesale Store

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Auto Parts Store Food Market

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

    Similar Places Nearby

    Gopher State Storage -- East Bethel North, fully enclosed, locked personal storage

    Location Insight

    • Map
    • Local Demand
    City
    East Bethel
    County
    Chisago
    State
    Minnesota
    Longitude
    -93.236164
    Latitude
    45.400522

    FAQs

    What type of property is this?
    Warehouse - Office/warehouse building on Highway 65 with prime visibility and access.
    Where is this warehouse located?
    The property is located at 23773 Johnson St NE East Bethel, MN.
    What is the asking price?
    The asking price for this property is $1,175,000.
    What are key features of this property?
    This property features: - Prime Highway 65 location with high visibility and easy access.; - Approximately 9,015 SF of office/warehouse space plus a ~900 SF mezzanine.; - Two tenants currently in leases, providing immediate income.
    (612) 963-5147
    Request Owner's contact information
    23773 Johnson St NE East Bethel, MN 55005
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    East Bethel, MN 55005
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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.

    More about this property
    23773 Johnson St NE East Bethel, MN 55005
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    We can help!
    Listing Contact
    Chad Heer
    (612) 963-5147
    Learn more
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