Add Listing
    For Sale
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    Tbd TBD - Main Street Pequot Lakes, MN 56472

    View on Map
    Claim this Listing
    For Sale
    $3,790,000

    Lots & Land - Pequot Lakes, MN

    Lot size:
    17.90 Acres
    Added:
    Feb 2, 2024
    Days on Market:
    819
    Last Refresh:
    May 1 at 7:06 pm

    Property Features for Tbd TBD - Main Street

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Business/Commercial
    Standard status
    Active
    APN
    TBD
    Lot size
    17.90 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    1388

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Dennis Wickham

    Listing agent Dennis Wickham

    Listing office Your Home Sold Guaranteed Realty Exclusive 24199 State Hwy 371 Unit #4, Nisswa, MN

    Listing date Feb 2, 2024

    MLS# 6482680 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.

    Overview

    Highway 371 Commercial Development Land

    This commercial land offers a development opportunity in Northern Minnesota, situated off Highway 371. The site provides space for developers to create a signature establishment. The location benefits from regional economic growth and a growing community. The property features accessibility and visibility along the highway, potentially capturing the attention of passing traffic. Its proximity to amenities, combined with its space, may position it for commercial success. The seller is willing to split the acreage to accommodate business needs. The lot size is 17.9 acres.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Pequot Lakes
    County
    Crow Wing
    State
    Minnesota
    Longitude
    -94.2515
    Latitude
    46.6832

    Nearby Similar for Sale

    • $795,000

      Versatile Mixed-Use Property in Pequot Lakes

      Unique commercial and residential property with income potential.
      30694_ Olson Street, Pequot Lakes, MN 56472
      View Details
    • $68,500

      Ideal Twp Storage Unit Opportunity

      Storage unit in Ideal Storage Facility with upgraded roof.
      9656 County Road 16, Ideal Twp, MN 56472
      View Details
    • $85,000

      Ideal Twp Storage Unit For Sale

      Prime storage unit with security, lighting, and upgraded roof.
      9656 County Road 16, Ideal Twp, MN 56472
      View Details
    • $350,000

      Middle Cullen Lake Land Parcel

      Residential land with lake frontage near Nisswa shopping and golf.
      5969 Jack Pine Road, Pequot Lakes, MN 56472
      View Details
    • $26,950

      RV Lot in Pequot Lakes

      RV lot with concrete pad and park amenities.
      28668 Lot 94 Hurtig Road, Pequot Lakes, MN 56472
      View Details
    • $179,000
      807 SF

      Prime Pequot Lakes Commercial Building

      Stand-alone building on Main Street, ideal for retail or office.
      4560 Main Street (CR 11), Pequot Lakes, MN 56472
      View Details
    • $31,500

      RV Lot in Growing Park

      RV lot with concrete pad in a growing park.
      28668 Lot 126 Hurtig Road, Pequot Lakes, MN 56472
      View Details
    • $160,000

      20 Acres of Wooded Land

      20-acre property with wooded land, open terrain, and recreational potential.
      2998 County Road 1, Pequot Lakes, MN 56472
      View Details
    • $240,000

      Pequot Lakes Land with Meadows

      40 acres featuring meadows, woods, and Mayo Creek border.
      Parcel G 48th Street SW, Pequot Lakes, MN 56472
      View Details
    • $160,000

      20 Acres of Wooded Land

      20-acre property with wooded land and open rolling terrain.
      Parcel 3 County Road 1, Pequot Lakes, MN 56472
      View Details
    • $75,000

      Residential Land in Pequot Lakes

      2.5-acre residential land parcel in a prime location.
      Tbd Gravdahl Drive, Pequot Lakes, MN 56472
      View Details
    • $240,000

      40 Acres of Tillable Land

      40 acres of tillable land near Pequot Lakes, Minnesota.
      Parcel 1 56 Street SW, Pequot Lakes, MN 56472
      View Details

    FAQs

    What type of property is this?
    Commercial land - Prime commercial land off Highway 371 in Pequot Lakes.
    Where is this commercial land located?
    The property is located at Tbd TBD - Main Street Pequot Lakes, MN.
    What is the asking price?
    The asking price for this property is $3,790,000.
    What are key features of this property?
    This property features: Prime commercial development opportunity off Highway 371 in Northern Minnesota.; Excellent accessibility and high visibility from the highway.; Located in a region experiencing economic growth.
    (218) 820-6139
    We can help!
    Listing Contact
    Dennis Wickham
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry

    Tbd TBD - Main Street, Pequot Lakes, MN 56472

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!