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

    102 State St N Waseca, MN 56093

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Versatile property in downtown Waseca with retail and rental potential.

    Property size:
    3,223 SF

    Property Features for 102 State St N

    General Information

    Standard status
    Active
    Size
    3,223 SF

    Building Details

    Year built
    1908

    We can help!

    Listing Contact
    Becky Hermanson
    Source: Crexi

    Listing Agency: Berkshire Hathaway HomeServices Advantage Real Estate Listing Agent: Becky Hermanson

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

    Learn more

    Overview

    Downtown Waseca Mixed-Use Opportunity

    Located in downtown Waseca, the property at 102 State Street North offers an investment opportunity with income-generating possibilities. The property features a solid structure with character and design. It includes a spacious main-level retail area suitable for business uses, a flexible short-term rental and event space, and storage areas. The property also features an upper-level garage service door leading to a rooftop entertainment area. Situated in a downtown location with visibility and foot traffic, the property presents opportunities for retail, rental income, or event hosting. The building has secure access and off-street parking. The layout offers flexibility and is suitable for office, studio, wellness, retail, or creative use. The property size is 3223 square feet.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Waseca
    County
    Waseca
    State
    Minnesota
    Longitude
    -93.5076848
    Latitude
    44.0773912

    Nearby Similar for Sale

    • $550,000
      0.07 Acres

      Downtown Waseca Commercial Investment Opportunity

      Prime downtown location with retail, rental, and event hosting potential.
      102 State St N, Waseca, MN 56093
      View Details
    • $850,000
      0.18 Acres

      Downtown Waseca Multi-Use Investment Property

      Vibrant mixed-use property in downtown Waseca with income-generating potential.
      100 State St N, Waseca, MN 56093
      View Details
    • $499,900

      Waseca Restaurant with Drive-Thru

      Former Taco John's with drive-thru in strong retail corridor.
      1401 North State St, Waseca, MN 56093
      View Details
    • Contact for pricing

      Turnkey Industrial Buildings with Expansion Potential

      Industrial buildings in an Opportunity Zone, suitable for manufacturing.
      1340 South State St, Waseca, MN 56093
      View Details
    • $3,800,000
      43,693 SF

      Versatile Retail/Cultivation/Manufacturing Facility

      Adaptable space ideal for retail, cultivation, food manufacturing, and cold storage.
      1230 N State St, Waseca, MN 56093
      View Details
    • $205,000
      4,796 SF

      Downtown Waseca Office Building

      Prime Office Space - For Sale or Lease
      111 State St, Waseca, MN 56093
      View Details
    • Contact for pricing
      4,564 SF

      Turnkey Restaurant and Bar Opportunity

      Established restaurant and bar with loyal customer base and lake views.
      406 9Th St NE, Waseca, MN 56093
      View Details
    • $650,000
      1,616 SF

      Lake Aire Lodging: Waseca, MN

      Prime Waseca investment: Motel, home, lake views.
      1208 Elm Ave, Waseca, MN 56093
      View Details
    • Contact for pricing
      4,564 SF

      Turnkey Restaurant Bar on Lakeshore

      Established restaurant and bar with 130' of lakeshore.
      406 9Th St NE, Waseca, MN 56093
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Versatile property in downtown Waseca with retail and rental potential.
    Where is this mixed-use property located?
    The property is located at 102 State St N Waseca, MN.
    What are key features of this property?
    This property features: - Prime downtown location with high visibility and foot traffic.; - Rooftop entertainment space accessible via upper-level garage service door.; - Flexible short-term rental and event space for additional income.
    Request Owner's contact information
    102 State St N Waseca, MN 56093
    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.
    102 State St N
    Waseca, MN 56093
    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
    102 State St N Waseca, MN 56093
    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

    We can help!
    Listing Contact
    Becky Hermanson
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!