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    Versatile Commercial Property Near Mille Lacs Title is generated by Realmo AI

    485 4th Avenue S, Isle, MN 56342

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    Claim this Listing
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    For Sale
    $214,900

    Commercial - Isle, MN

    Property size:
    2,400 SF
    Lot size:
    0.23 Acres
    Price / SF:
    $89/SF
    Added:
    May 22, 2026
    Days on Market:
    1
    Last Refresh:
    May 22 at 7:06 pm

    Property Features for 485 4th Avenue S

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Business/Commercial
    Parking features
    Driveway
    Exterior features
    Metal
    Standard status
    Active
    APN
    201600020
    Size
    2,400 SF
    Lot size
    0.23 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Annual Amount
    247

    Utilities

    Heating system
    Space Heater
    Cooling system
    Wall Unit(s)

    Building Details

    Year built
    1985
    Flooring type
    Concrete
    Building materials
    Frame
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Hans Woelfle

    Listing agent Hans Woelfle

    Listing office Keller Williams Realty Professionals 14091 Baxter Dr Suite 116, Baxter, MN

    Listing date May 22, 2026

    MLS# 7079291 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

    • Prime location steps from Mille Lacs Lake and just off Main Street in Isle, MN.
    • Spacious 2,400 sq ft heated garage/shop with wide‑open workspace.
    • Equipped with city water, sewer, natural gas, and cable internet.
    • Two 14' x 14' overhead doors suitable for large vehicles, boats, or equipment.
    • Air‑conditioned office for comfortable year‑round operation.
    • Ample electrical power for heavy equipment or expansion.

    Overview

    Located just off Main Street in Isle, MN, steps from the south shore of Mille Lacs Lake, this commercial property presents a versatile business opportunity. The 40' x 60' (2,400 sq ft) heated garage/shop is equipped with city water, sewer, natural gas, and cable internet. The property is suitable for a small business, storage operation, or personal use. The shop features a wide-open workspace and two 14' x 14' overhead doors, accommodating large vehicles, boats, or equipment. An air-conditioned office provides a comfortable workspace year-round. Additional features include a half bath on the main level, a second-floor storage area, two heaters in the shop, and ample electrical power.
    Property Profile Location Intelligence

    Current Use by Public Records

    Auto shops

    Suggested Use

    Restaurant Real Estate Agency Spa & Massage Center Building Supply Dental Office Big Box & Wholesale Store Hair Salon Auto Parts Store Gym & Fitness Center Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Isle
    County
    Mille Lacs
    State
    Minnesota
    Longitude
    -93.4724699
    Latitude
    46.1370753

    Nearby Similar for Sale

    • $249,900

      Profitable Business Opportunity Near Lake

      Profitable business opportunity in a fast-growing lake resort community.
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      View Details
    • $38,900

      Breakers Sunset Bay Resort Lot

      Lot in gated resort with amenities on Lake Mille Lacs.
      4328 460th Street #22, Isle, MN 56342
      View Details
    • $848,560
      6,748 SF

      Former Aaron's

      6,748 SF vacant retail building on 1.15-acre lot.
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      View Details

    FAQs

    What type of property is this?
    Auto shop - 2,400 sq ft heated garage/shop near Mille Lacs Lake.
    Where is this auto shop located?
    The property is located at 485 4th Avenue S Isle, MN.
    What is the asking price?
    The asking price for this property is $214,900.
    What are key features of this property?
    This property features: Prime location steps from Mille Lacs Lake and just off Main Street in Isle, MN.; Spacious 2,400 sq ft heated garage/shop with wide‑open workspace.; Equipped with city water, sewer, natural gas, and cable internet.
    (320) 515-1337
    We can help!
    Listing Contact
    Hans Woelfle
    Request Owner's contact information
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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
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