4-Bay Auto Repair
New
For Sale
$529,000
111 Vermilion Dr E, Cook, MN 55723
The sale includes an operating tire and repair business, equipment, tools, and dedicated customer service areas.
Property Size3,048 SF
Price / SF$173.56
Days on Market3
Property Features for 111 Vermilion Dr E
General Information
Standard status
Active
Size
3,048 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Business Included
Yes
Service Bays
4
Amenities
auto lifts
insulated garage doors
oil heating system
office area
waiting area
bathroom
upper level storage
large parking area
Building Details
Year Built
1980
Buildings
1
Listing Agency:
BIC Realty
Listed By:
TARYN SANDBERG
(218) 780-1062
Source:
Searchhousesnow
Added: Sep 24
Last Checked: Sep 24 at 2:51PM
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 BIC Realty
Investment Insights
Based on property information with market context.
This 3,048-square-foot auto repair property was built in 1980 and has four service bays, including two fitted with vehicle lifts. The building also contains an office, a customer waiting room with a bathroom, and storage on the upper level. Newer insulated garage doors and a newer used-oil heating system are among the building features. The business, lifts, equipment, and tools are included in the sale.
The property occupies a corner lot at 111 Vermilion Dr E in Cook, a couple of blocks from Hwy. 53. A large parking area serves the site.
The property occupies a corner lot at 111 Vermilion Dr E in Cook, a couple of blocks from Hwy. 53. A large parking area serves the site.
Key Highlights
- Four service bays, with auto lifts in two
- 3,048‑square‑foot building constructed in 1980
- Sale includes tire and repair business, auto lifts, equipment, and tools
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
$28,804
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
5.44%
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%
$576,080
$576.1K
Cap Rate 7%
$411,486
$411.5K
Cap Rate 9%
$320,044
$320.0K
Market Conditions
NOI Build-Up for 3,048 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
$45.7K $15.00/SF
− Vacancy
−$4.6K −$1.50/SF
EGI
$41.1K $13.50/SF
− OpEx
−$12.3K −$4.05/SF
NOI
$28.8K $9.45/SF
Area
St. Louis County, MN
Vacancy
10.00%
Lease Rate
$15.00 /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%
$576,080
Cap Rate 7%
$411,486
Cap Rate 9%
$320,044
Alternative Uses
Best Use
Retail
$411.5K
$360.1K – $480.1K
NOI $28,804 @ 7.0% cap · market cap 5.44%
Second Best
Industrial
$172.2K
$150.7K – $200.9K
NOI $12,056 @ 7.0% cap · market cap 2.28%
Theoretical Best
Specialty Retail
$1.18M
$1.03M – $1.38M
NOI $82,766 @ 7.0% cap · market cap 15.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Service bays
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
205
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 55723, MN
2,222
Population
2,053
Households
1.1
Avg Household Size
56
Median Age
24%
College-Educated
93%
High-School Grad
393.7 sq mi
ZIP Area
6
Density / Sq Mi
$63,958
Median Household Income
$36,600
Median Earnings
$620
Median Rent
$177,300
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
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Similar Off Market Nearby
- Waschke Family Chevrolet Service — 126 US-53, Cook, MN 55723
- Waschke Family Chevrolet — 126 US-53, Cook, MN 55723
- Tire Shop — 111 E Vermilion Dr, Cook, MN 55723
Frequently Asked Questions
What type of property is this?
Auto shop - The sale includes an operating tire and repair business, equipment, tools, and dedicated customer service areas.
Where is this auto shop located?
The property is located at 111 Vermilion Dr E Cook, MN.
What is the asking price?
The asking price for this property is $529,000.
What are key features of this property?
This property features: Four service bays, with auto lifts in two; 3,048‑square‑foot building constructed in 1980; Sale includes tire and repair business, auto lifts, equipment, and tools
