Multi-Tenant Retail
New
For Sale
$450,000
11 Willow Ln, Grand Rapids, MN 55744
Separate utilities, restrooms, furnaces, and air-conditioning units serve each section.
Property Size3,880 SF
Price / SF$115.98
Days on Market2
Property Features for 11 Willow Ln
General Information
Standard status
Active
Size
3,880 SF
Occupancy
100%
Building Details
Year Built
1950
Buildings
1
Tenancy
Single
Listing Agency:
EDGE OF THE WILDERNESS REALTY
Listed By:
JEFFREY DICK
(218) 244-9610
Source:
Searchhousesnow
Added: Oct 4
Last Checked: Oct 4 at 2:15PM
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 EDGE OF THE WILDERNESS REALTY
Investment Insights
Based on property information with market context.
Built in 1950, this 3,880-square-foot retail property has three sections, each with its own electric service and meter, bathroom, furnace, and air-conditioning unit. One tenant occupies 1,280 square feet, while the balance is operating as a hair salon. The layout could accommodate three tenants.
The building sits just off Hwy 169 South in Grand Rapids, Minnesota, and has two off-street parking lots.
The building sits just off Hwy 169 South in Grand Rapids, Minnesota, and has two off-street parking lots.
Key Highlights
- 3,880 square feet of total building area
- One tenant occupies 1,280 square feet; the remaining space operates as a hair salon
- Three sections, each with separate electric service and meter, bathroom, furnace, and air‑conditioning unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,473
Cap Rate
4.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$409,460
$409.5K
Cap Rate 7%
$292,471
$292.5K
Cap Rate 9%
$227,478
$227.5K
Market Conditions
NOI Build-Up for 3,880 SF
Gross rent
$34.0K $8.76/SF
− Vacancy
−$4.7K −$1.22/SF
EGI
$29.2K $7.54/SF
− OpEx
−$8.8K −$2.26/SF
NOI
$20.5K $5.28/SF
Area
Itasca County, MN
Vacancy
13.95%
Lease Rate
$8.76 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$409,460
Cap Rate 7%
$292,471
Cap Rate 9%
$227,478
Alternative Uses
Best Use
Retail
$292.5K
$255.9K – $341.2K
NOI $20,473 @ 7.0% cap · market cap 4.55%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$374.1K
$327.3K – $436.4K
NOI $26,184 @ 7.0% cap · market cap 5.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
508
Businesses Nearby
124k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 72%
Groceries 14%
Shops & Services 12%
Electronics 2%
McDonald's
Dining
24,622 visits/mo
0.4 miles
Culver's
Dining
18,893 visits/mo
0.4 miles
Aldi
Groceries
17,884 visits/mo
0.4 miles
Holiday Station Store
Shops & Services
12,280 visits/mo
0.2 miles
Taco John's
Dining
9,701 visits/mo
0.1 miles
Demographics for 55744, MN
20,096
Population
9,733
Households
2.1
Avg Household Size
45
Median Age
30%
College-Educated
95%
High-School Grad
239.4 sq mi
ZIP Area
84
Density / Sq Mi
$68,213
Median Household Income
$39,232
Median Earnings
$1,014
Median Rent
$232,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Separate utilities, restrooms, furnaces, and air-conditioning units serve each section.
Where is this retail space located?
The property is located at 11 Willow Ln Grand Rapids, MN.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 3,880 square feet of total building area; One tenant occupies 1,280 square feet; the remaining space operates as a hair salon; Three sections, each with separate electric service and meter, bathroom, furnace, and air‑conditioning unit
