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    Renovated Historic Cottage Grove Building Title is generated by Realmo AI

    7404 Lamar Avenue S, Cottage Grove, MN 55016

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    For Sale
    $550,000

    Commercial - Cottage Grove, MN

    Lot size:
    1.03 Acres
    Added:
    Nov 20, 2024
    Days on Market:
    544
    Last Refresh:
    May 18 at 7:06 am

    Property Features for 7404 Lamar Avenue S

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Business/Commercial
    Parking features
    Other
    Exterior features
    Block, Brick/Stone
    Standard status
    Active
    APN
    1202721230003
    Lot size
    1.03 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    16344

    Utilities

    Heating system
    Forced Air

    Building Details

    Year built
    1995
    Architectural style
    Other

    We can help!

    Listing Contact
    Jessica Fisher
    Jessica Fisher

    Listing agent Jessica Fisher

    Listing office RE/MAX Professionals 7420 80th Street South, Cottage Grove, MN

    Listing date Nov 20, 2024

    MLS# 6633386 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

    • Exquisite, oversized patio with fireplace, fire table, and waterfall feature.
    • Completely renovated interior features tiled floors, high ceilings, two bathrooms, and catering‑style kitchen.
    • New HVAC installed October 2025.
    • Basement waterproofing system installed September 2025.
    • Located in the heart of Old Cottage Grove.
    • Zoned B‑2 Retail Business District, offering various business possibilities.

    Overview

    This renovated historic building is located in Old Cottage Grove. It features a welcoming, oversized patio with a fireplace, fire table, and waterfall feature. The interior has been completely renovated and includes tiled floors, high ceilings, two bathrooms, and a catering-style kitchen. A basement waterproofing system was installed in September 2025. New HVAC will be installed in October 2025. The basement has been waterproofed and is suitable for storage. The property is located in a B-2 Retail Business District, and the City of Cottage Grove Zoning Code outlines the possibilities for this updated building and patio space. The property is situated on a 1.03-acre lot. Cannabis is not allowed per city code. This property is located in Cottage Grove, MN.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Edc Install Solutions, ... Construction Company angelayne Wedding Service Minnesota Seasons Grounds Landscaping

    Suggested Use

    Real Estate Agency Auto Repair Shop Hotel & Motel Food Market Garden Center Farmer's Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Cottage Grove
    County
    Washington
    State
    Minnesota
    Longitude
    -92.882552
    Latitude
    44.841477

    Nearby Similar for Sale

    • $550,000
      2,200 SF

      Renovated Cottage Grove Business Building

      Historic building with renovated interior and exquisite outdoor patio.
      7404 Lamar S Avenue, Cottage Grove, MN 55016
      View Details
    • $19

      Class A Mixed-Use Development

      Class A office, medical, or retail space available May 2026.
      6939 Pine Arbor Drive S, Cottage Grove, MN 55016
      View Details

    FAQs

    What type of property is this?
    Storefront property - Completely renovated commercial building with a breathtaking outdoor patio.
    Where is this storefront property located?
    The property is located at 7404 Lamar Avenue S Cottage Grove, MN.
    What is the asking price?
    The asking price for this property is $550,000.
    What are key features of this property?
    This property features: Exquisite, oversized patio with fireplace, fire table, and waterfall feature.; Completely renovated interior features tiled floors, high ceilings, two bathrooms, and catering‑style kitchen.; New HVAC installed October 2025.
    (612) 356-7599
    We can help!
    Listing Contact
    Jessica Fisher
    Jessica Fisher
    Real Estate License ID: 40580850
    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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