Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    575 2Nd St S Waite Park, MN 56387

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $20 SF/Yr

    Retail space with high visibility in a Home Depot outlot.

    Building Details

    Year built
    1999

    We can help!

    Listing Contact
    Mike Bobick, Ccim
    Source: Svn

    Listing Agent: Mike Bobick, Ccim

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Prime Retail Space in Waite Park

    This retail space offers a prime location with significant visibility, encompassing approximately 6,442 square feet. The property is strategically positioned on a controlled intersection within the Home Depot parking lot, providing excellent exposure to the substantial traffic on 2nd Street, which sees over 30,000 vehicles daily. Situated directly on 2nd Street (State Highway 23) in Waite Park, it benefits from its location in a Home Depot outlot. The location offers convenient customer parking. Neighboring businesses include Home Depot, Hobby Lobby, IHOP, Texas Roadhouse, Aldi, Dicks, Toyota, and Magnifi. The estimated CAM/Tax for 2025 is $8.00 per square foot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Waite Park
    County
    Stearns
    State
    Minnesota
    Longitude
    -94.224931
    Latitude
    45.549872

    Nearby Similar for Lease

    • $15 SF/Yr

      Turn-Key Retail Suite Available

      Former spa space in a high-traffic commercial area.
      643 2Nd St South, Waite Park, MN 56387
      View Details
    • $2,160 /Mo

      Waite Park Retail Sublease Opportunity

      Retail space sublease in a high-traffic Waite Park location.
      643 2Nd St South, Waite Park, MN 56387
      View Details
    • $13 SF/Yr

      Waite Park Corporate Center Leasing

      Professionally managed office building with modern amenities and high visibility.
      818 2Nd St S, Waite Park, MN 56387
      View Details
    • $25 SF/Yr

      Prime Retail Space on Division

      High-visibility commercial property with flexible layout and ample parking.
      125 Division St, Waite Park, MN 56387
      View Details
    • $10 SF/Yr

      Retail Space in Waite Park

      Retail space with showroom, warehouse, and drive-in door.
      1111 2Nd St S, Waite Park, MN 56387
      View Details
    • Contact for pricing

      Office and Retail Space Available

      Office and retail suites available in Crossroads Regional Mall area.
      310-320 3Rd St NE, Waite Park, MN 56387
      View Details
    • $20 SF/Yr
      643 SF

      Office Space for Rent

      Varied office spaces available to fit needs and budget.
      110 2Nd St S, Waite Park, MN 56304
      View Details
    • $15 SF/Yr
      1,448 SF

      Turnkey Retail Suite For Lease

      Turnkey retail suite with ample parking in high-traffic area.
      631 2Nd St S, Waite Park, MN 56387
      View Details
    • $10 SF/Yr
      5,171 SF

      Waite Park Retail Space Available

      Retail space with showroom, warehouse, and drive-in door.
      1111-1143 2Nd St S, Waite Park, MN 56303
      View Details
    • $6 SF/Yr
      3,576 SF

      West St. Cloud Warehouse

      Multi-tenant warehouse with outdoor storage in West St. Cloud.
      2330 County Road 137, Waite Park, MN 56387
      View Details
    • Contact for pricing
      1,900 SF

      Retail Space in Waite Park

      1,900 SF retail space with high visibility and ample parking.
      314 Division St, Waite Park, MN 56387
      View Details
    • Contact for pricing
      18,000 SF

      Waite Park Industrial Building

      18,000 SF industrial building in Waite Park, Minnesota.
      2845 4Th St S, Waite Park, MN 56303
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail space with high visibility in a Home Depot outlot.
    Where is this retail space located?
    The property is located at 575 2Nd St S Waite Park, MN.
    What is the lease rate?
    The lease rate is $20 SF/Yr.
    What are key features of this property?
    This property features: - Prime location with unparalleled visibility on 2nd Street (State Highway 23).; - High traffic volume: 30,000+ ADT on 2nd Street.; - Located in the Home Depot parking lot with a controlled intersection.
    (320) 333-2692
    Request Owner's contact information
    575 2Nd St S Waite Park, MN 56387
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    575 2Nd St S
    Waite Park, MN 56387
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    575 2Nd St S Waite Park, MN 56387
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Mike Bobick, Ccim
    (320) 333-2692
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!