Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Retail Redevelopment on Broadway Avenue Title is generated by Realmo AI

    Broadway Ave & I-35, Forest Lake, MN 55025

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Retail space for lease in Forest Lake, Minnesota.

    Type:Retail
    Added:
    Mar 7, 2026
    Days on Market:
    91
    Last Refresh:
    Mar 7 at 7:09 pm

    Property Features for Broadway Ave & I-35

    General Information

    Standard status
    Active
    Property subtype
    Retail

    We can help!

    Listing Contact
    Tricia Pitchford
    Tricia Pitchford

    Listing agent Tricia Pitchford

    Listing office Mid-America Real Estate-Minnesota LLC

    Listing date Mar 7, 2026

    Source Midamericagrp

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Mid-America Real Estate-Minnesota LLC

    HighLights

    • 100% Leased: Provides immediate income.
    • High Traffic Exposure: Incredible visibility with 72,000 vehicles per day on I‑35 and 23,000 vehicles per day on Broadway Avenue.
    • New Retail Redevelopment: Features modern construction and design.
    • Drive‑Thru: Offers a convenient amenity.
    • Pylon Signage: Enhances visibility and branding.
    • Proximity to Major Retailers: Located near Walmart, Walgreens, and Target.

    Overview

    This retail redevelopment is located on Broadway Avenue in Forest Lake. The site features a drive-thru, patio seating, and pylon signage visible from Interstate 35. The location benefits from exposure to 72,000 vehicles per day on I-35 and 23,000 vehicles per day on Broadway Avenue. Area retailers include Walmart, Walgreens, and Target. The property is 100% leased.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Law Firm Building Supply Big Box & Wholesale Store Real Estate Agency Spa & Massage Center Hotel & Motel Hair Salon Auto Repair Shop Dental Office

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

    Location Insight

    • Map
    • Local Demand
    City
    Forest Lake
    County
    Washington
    State
    Minnesota
    Longitude
    -93.0169
    Latitude
    45.2627

    Nearby Similar for Lease

    • $30 SF/Yr
      192 SF

      Versatile Commercial Space For Rent

      Adaptable space suitable for office, retail, or service businesses.
      808 W Broadway Ave, Forest Lake, MN
      View Details
    • $14 SF/Yr
      1,714 SF

      Retail Space in Broadway Commons

      Retail space available in high-traffic Forest Lake location.
      843 W Broadway Ave, Forest Lake, MN
      View Details
    • Contact for pricing

      Renovated Office/Warehouse Space Available

      Office/warehouse space with immediate highway access and renovated offices.
      13733 Lake Dr NE, Suite Bldg, Colombus, MN 55025
      View Details
    • Contact for pricing

      Retail Space in Forest Lake

      Bustling shopping center anchored by Cub Foods in Forest Lake.
      2009 W Broadway Ave | Forest Lake, MN 55025
      View Details
    • Contact for pricing

      Retail Space in Forest Lake

      Retail spaces available in Forest Lake, new construction and existing.
      119 12th Street NW | Forest Lake, MN 55025
      View Details
    • Contact for pricing
      2,162 SF

      Retail Space with Glass Frontage

      Retail space suitable for restaurant or boutique with storage.
      836 and 840 S Lake Street, Forest Lake, MN 55025
      View Details
    • Contact for pricing
      1,243 SF

      Retail Space Near Highway 61

      Retail space available near a high-traffic highway and Dunkin' Donuts.
      1420 Lake St S, Forest Lake, MN
      View Details
    • Contact for pricing
      10,641 SF

      Remodeled Retail Space Available

      Recently remodeled retail space with high traffic location.
      1500 Lake St S, Forest Lake, MN
      View Details
    • Contact for pricing
      36,750 SF

      New Industrial Development Near I-35

      New industrial development with easy highway access and flexible space.
      Fenway Ave N, Forest Lake, MN
      View Details
    • $15 SF/Yr
      550 SF

      Forest Lake Office Space Available

      550 SF office space with private parking and signage.
      31 SW 7th Ave, Forest Lake, MN
      View Details
    • Contact for pricing
      2,252 SF

      Retail Space in Forest Lake

      Grocery-anchored shopping center with drive-thru in Forest Lake, MN.
      2009-2013 W Broadway Ave, Forest Lake, MN
      View Details
    • Contact for pricing
      9,600 SF

      Retail Space in Forest Lake

      Retail space available in well-located Forest Lake shopping center.
      119-299 12th St SW, Forest Lake, MN
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail space for lease in Forest Lake, Minnesota.
    Where is this retail space located?
    The property is located at Broadway Ave & I-35 Forest Lake, MN.
    What are key features of this property?
    This property features: 100% Leased: Provides immediate income.; High Traffic Exposure: Incredible visibility with 72,000 vehicles per day on I‑35 and 23,000 vehicles per day on Broadway Avenue.; New Retail Redevelopment: Features modern construction and design.
    (952) 563-6612
    We can help!
    Listing Contact
    Tricia Pitchford
    Tricia Pitchford
    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
    Broadway Ave & I-35 | Forest Lake, MN 55025
    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!