Mixed-Use Building with
New
For Sale
$275,000
112 W Main St, Belle Plaine, MN 56011
Historic commercial property combines an unfinished storefront level, residential space, and rear garage with separate electrical service.
Property Size2,392 SF
Price / SF$114.97
Days on Market2
Property Features for 112 W Main St
General Information
Standard status
Active
Size
2,392 SF
Total Parking Spaces
2
Property Condition
Severity
Repairs Needed
Evidence
ready to be finished to your needs
Building Details
Year Built
1900
Listing Agency:
Keller Williams Preferred Rlty
Listed By:
The Stier-Ruud Home Team, The Stier-Ruud Home Team
(612) 598-7771
Source:
Tayloronken
Added: Sep 22
Changed: Sep 23
Last Checked: Sep 22 at 6:13PM
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 Keller Williams Preferred Rlty
Investment Insights
Based on property information with market context.
Built in 1900, this mixed-use property includes a one-bedroom apartment and a commercial main level with an unfinished interior. The apartment is owner occupied and has been recently refinished. Character elements in the commercial space include an old tin ceiling and an exposed brick wall, while two finished half bathrooms are already in place.
A two-car garage occupies the rear of the property and has a separate electrical panel. The building is located on Main Street in downtown Belle Plaine, near restaurants, banks, and other retail spaces. Its combination of commercial and residential areas provides a flexible existing configuration for an owner-user or other mixed-use application.
A two-car garage occupies the rear of the property and has a separate electrical panel. The building is located on Main Street in downtown Belle Plaine, near restaurants, banks, and other retail spaces. Its combination of commercial and residential areas provides a flexible existing configuration for an owner-user or other mixed-use application.
Key Highlights
- One‑bedroom apartment with recent refinishing; owner occupied
- Unfinished commercial main level with old tin ceiling and exposed brick wall
- Two finished half bathrooms in the commercial space
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
$22,927
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
8.34%
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%
$458,540
$458.5K
Cap Rate 7%
$327,529
$327.5K
Cap Rate 9%
$254,744
$254.7K
Market Conditions
NOI Build-Up for 2,392 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
$40.8K $17.04/SF
− Vacancy
−$4.1K −$1.70/SF
EGI
$36.7K $15.34/SF
− OpEx
−$13.8K −$5.75/SF
NOI
$22.9K $9.59/SF
Area
Scott County, MN
Vacancy
10.00%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
37.50%
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%
$458,540
Cap Rate 7%
$327,529
Cap Rate 9%
$254,744
Alternative Uses
Best Use
Retail
$420.9K
$368.3K – $491.0K
NOI $29,461 @ 7.0% cap · market cap 10.71%
Second Best
Mixed Use
$327.5K
$286.6K – $382.1K
NOI $22,927 @ 7.0% cap · market cap 8.34%
Theoretical Best
Office A
$570.7K
$499.4K – $665.8K
NOI $39,948 @ 7.0% cap · market cap 14.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
322
Businesses Nearby
Explore this area
Business Placement
Demographics for 56011, MN
9,538
Population
3,546
Households
2.7
Avg Household Size
37
Median Age
28%
College-Educated
92%
High-School Grad
102.3 sq mi
ZIP Area
93
Density / Sq Mi
$99,628
Median Household Income
$51,817
Median Earnings
$1,356
Median Rent
$296,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Historic commercial property combines an unfinished storefront level, residential space, and rear garage with separate electrical service.
Where is this mixed-use property located?
The property is located at 112 W Main St Belle Plaine, MN.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: One‑bedroom apartment with recent refinishing; owner occupied; Unfinished commercial main level with old tin ceiling and exposed brick wall; Two finished half bathrooms in the commercial space
