Historic Mixed-Use
For Sale
$329,900
102 W Summit Street, Battle Lake, MN 56515
Updated commercial property with distinctive architectural details, natural light, and flexible retail or office use potential.
Property Size3,010 SF
Price / SF$109.60
Days on Market34
Property Features for 102 W Summit Street
General Information
Standard status
Active
Size
3,010 SF
Property subtype
Commercial
Zoning
Business/Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$5,598
Building Details
Building Size
3,010 SF
Year Built
1903
Stories
2
Units
1
Construction
Victorian
Listing Agency:
Century 21 Atwood
(218) 770-0567
Listed By:
Sarah House
(218) 770-0567
Source:
Juverealestate
Added: Jul 9
Changed: Aug 4
Last Checked: Aug 10 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 Century 21 Atwood
Investment Insights
Based on property information with market context.
Built in 1903, this 3,010-square-foot mixed-use property combines preserved architectural character with substantial updates. The building features hardwood flooring, original interior woodwork, a Victorian turret, newer windows and siding, a newer roof, and updated electrical service. Its layout and presentation support a range of commercial concepts, including retail, office, gallery, café, boutique hospitality, and mixed-use operations. The property is currently occupied by Lionseed Bookstore & Community Commons.
Positioned on four city lots along State Hwy 78, the building occupies a prominent position on Battle Lake’s main street at the northern end of the downtown shopping district. The surrounding area includes the school, parks, beach, trails, and venues for year-round community events. Business/Commercial zoning further supports its commercial positioning.
Positioned on four city lots along State Hwy 78, the building occupies a prominent position on Battle Lake’s main street at the northern end of the downtown shopping district. The surrounding area includes the school, parks, beach, trails, and venues for year-round community events. Business/Commercial zoning further supports its commercial positioning.
Key Highlights
- 3,010‑square‑foot mixed‑use building constructed in 1903
- Business/Commercial zoning
- Four city lots along State Hwy 78
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
$25,587
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
7.76%
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%
$511,740
$511.7K
Cap Rate 7%
$365,529
$365.5K
Cap Rate 9%
$284,300
$284.3K
Market Conditions
NOI Build-Up for 3,010 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
$39.7K $13.20/SF
− Vacancy
−$3.2K −$1.06/SF
EGI
$36.6K $12.14/SF
− OpEx
−$11.0K −$3.64/SF
NOI
$25.6K $8.50/SF
Area
Otter Tail County, MN
Vacancy
8.00%
Lease Rate
$13.20 /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%
$511,740
Cap Rate 7%
$365,529
Cap Rate 9%
$284,300
Alternative Uses
Best Use
Office B
$460.5K
$403.0K – $537.3K
NOI $32,237 @ 7.0% cap · market cap 9.77%
Second Best
Retail
$365.5K
$319.8K – $426.5K
NOI $25,587 @ 7.0% cap · market cap 7.76%
Theoretical Best
Office A
$653.9K
$572.1K – $762.9K
NOI $45,771 @ 7.0% cap · market cap 13.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
187
Businesses Nearby
Explore this area
Business Placement
Demographics for 56515, MN
2,967
Population
2,861
Households
1
Avg Household Size
59
Median Age
35%
College-Educated
97%
High-School Grad
96.1 sq mi
ZIP Area
31
Density / Sq Mi
$73,350
Median Household Income
$44,348
Median Earnings
$950
Median Rent
$371,100
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Updated commercial property with distinctive architectural details, natural light, and flexible retail or office use potential.
Where is this mixed-use property located?
The property is located at 102 W Summit Street Battle Lake, MN.
What is the asking price?
The asking price for this property is $329,900.
What are key features of this property?
This property features: 3,010‑square‑foot mixed‑use building constructed in 1903; Business/Commercial zoning; Four city lots along State Hwy 78
