Lake Elmo Retail
For Sale
Contact for pricing
11144 Stillwater Blvd N, Lake Elmo, MN
Retail property for sale in Lake Elmo, Minnesota.
Property Size22,932 SF
Lot Size6.47 Acres
Price / SF$218.04
Days on Market393
Property Features for 11144 Stillwater Blvd N
General Information
Standard status
Active
Size
22,932 SF
Lot size
6.47 Acres
Property subtype
RETAIL
Listing Agency:
Telus Property Services & Solutions
(651) 485-8716
Listed By:
Brian Zeller
(612) 325-3038
Source:
Moodyscre
Added: Jul 24, 2025
Changed: Aug 9
Last Checked: Aug 19 at 9:16AM
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 Telus Property Services & Solutions
Investment Insights
Based on property information with market context.
The property, located in Lake Elmo, Minnesota, features a level topography and a total area of 22,932 square feet. The site area is suitable for a larger commercial user or can be subdivided to accommodate smaller users. The property includes a 6,466-square-foot showroom office, a 15,864-square-foot service parts area, and a 597-square-foot parts/mezzanine area. It is suitable for retail and showroom purposes.
Key Highlights
- Ideal site area suitable for a large commercial user.
- Divisible site to accommodate smaller users.
- Showroom office space offering 6,466 SF.
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
$268,717
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
5.37%
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%
$5,374,340
$5.4M
Cap Rate 7%
$3,838,814
$3.8M
Cap Rate 9%
$2,985,744
$3.0M
Market Conditions
NOI Build-Up for 22,932 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
$412.8K $18.00/SF
− Vacancy
−$28.9K −$1.26/SF
EGI
$383.9K $16.74/SF
− OpEx
−$115.2K −$5.02/SF
NOI
$268.7K $11.72/SF
Area
Washington County, MN
Vacancy
7.00%
Lease Rate
$18.00 /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%
$5,374,340
Cap Rate 7%
$3,838,814
Cap Rate 9%
$2,985,744
Alternative Uses
Best Use
Retail
$3.84M
$3.36M – $4.48M
NOI $268,717 @ 7.0% cap · market cap 5.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.37M
$5.57M – $7.43M
NOI $445,886 @ 7.0% cap · market cap 8.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
271
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Retail 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?
Showroom - Retail property for sale in Lake Elmo, Minnesota.
Where is this showroom located?
The property is located at 11144 Stillwater Blvd N Lake Elmo, MN.
What is the asking price?
The asking price for this property is $4,999,995.
What are key features of this property?
This property features: Ideal site area suitable for a large commercial user.; Divisible site to accommodate smaller users.; Showroom office space offering **6,466 SF**.
