Flex Building with Warehouse
For Sale
$1,100,000
1002 Laurel Street, Brainerd, MN 56401
Large building includes open retail/showroom space plus a shop and warehouse area with an overhead door.
Property Size7,360 SF
Price / SF$149.46
Days on Market135
Property Features for 1002 Laurel Street
General Information
Standard status
Active
Size
7,360 SF
Property subtype
Commercial
Zoning
Business/Commercial
Taxes and HOA fees
Annual Taxes
$8,901
Building Details
Building Size
7,360 SF
Year Built
1974
Stories
1
Units
1
Listing Agency:
Edina Realty, Inc.
(218) 851-5595
Listed By:
Jeremy Miller · License #20286846
(218) 851-5595
Source:
Juverealestate
Added: Apr 12
Changed: Aug 23
Last Checked: Jul 23 at 11:51AM
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 Edina Realty, Inc.
Investment Insights
Based on property information with market context.
This large flex building is arranged with an open retail/showroom area, a dedicated shop space, and a warehouse space that includes an overhead door. The configuration supports a mixed use setup, combining customer-facing space with back-of-house work/storage.
Located in Downtown Brainerd with easy access and both vehicle and pedestrian traffic noted in the remarks, the property can fit a range of operational needs where storefront visibility and practical receiving access matter.
Overall, the building offers multiple internal areas—showroom, shop, and warehouse—within one property, providing flexibility for organizations seeking versatile space under one roof.
Located in Downtown Brainerd with easy access and both vehicle and pedestrian traffic noted in the remarks, the property can fit a range of operational needs where storefront visibility and practical receiving access matter.
Overall, the building offers multiple internal areas—showroom, shop, and warehouse—within one property, providing flexibility for organizations seeking versatile space under one roof.
Key Highlights
- Large building with open retail/showroom space plus separate shop space and warehouse space
- Warehouse includes an overhead door for loading and access
- Versatile space suitable for office‑service, light industrial, retail trade, or group organization
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$68,254
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.20%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,365,080
$1.4M
Cap Rate 7%
$975,057
$975.1K
Cap Rate 9%
$758,378
$758.4K
Market Conditions
NOI Build-Up for 7,360 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$106.0K $14.40/SF
− Vacancy
−$8.5K −$1.15/SF
EGI
$97.5K $13.25/SF
− OpEx
−$29.3K −$3.97/SF
NOI
$68.3K $9.27/SF
Area
Crow Wing County, MN
Vacancy
8.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,365,080
Cap Rate 7%
$975,057
Cap Rate 9%
$758,378
Alternative Uses
Best Use
Retail
$975.1K
$853.2K – $1.14M
NOI $68,254 @ 7.0% cap · market cap 6.20%
Second Best
Flex RnD
$965.7K
$845.0K – $1.13M
NOI $67,598 @ 7.0% cap · market cap 6.15%
Theoretical Best
Office A
$1.56M
$1.37M – $1.82M
NOI $109,375 @ 7.0% cap · market cap 9.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
505
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 56401, MN
30,632
Population
16,038
Households
1.9
Avg Household Size
40
Median Age
24%
College-Educated
94%
High-School Grad
322.6 sq mi
ZIP Area
95
Density / Sq Mi
$70,269
Median Household Income
$40,172
Median Earnings
$918
Median Rent
$237,900
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Large building includes open retail/showroom space plus a shop and warehouse area with an overhead door.
Where is this flex space located?
The property is located at 1002 Laurel Street Brainerd, MN.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Large building with open retail/showroom space plus separate shop space and warehouse space; Warehouse includes an overhead door for loading and access; Versatile space suitable for office‑service, light industrial, retail trade, or group organization
