955 W Broadway Ave, Forest Lake, MN
Car wash business and redevelopment opportunity in Forest Lake.
- Added:
- Dec 5, 2022
- Days on Market:
- 1290
- Last Refresh:
- May 20 at 9:30 pm
Property Features for 955 W Broadway Ave
General Information
- Standard status
- Active
- Size
- 4,680 SF
- Lot size
- 0.64 Acres
- Property subtype
- SPECIALTY
Properties For Sale
at 955 W Broadway Ave Contact us
Listing agent Lisa Christianson License #MN 20313253 (952) 393-1212
Listing office Colliers (952) 393-1212
Listing date Dec 5, 2022
Source Moodyscre
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 Colliers
HighLights
- Redevelopment opportunity in a highly desirable retail trade area.
- Existing car wash business provides immediate cash flow.
- Strategic location just 2 blocks off I‑35 with high traffic counts and great visibility.
- Two access points enhance accessibility: West Broadway Avenue and First Avenue Northeast.
- Located in the heart of the business district, surrounded by major retailers.
- Tax benefits: Potential for accelerated depreciation on property improvements for car wash assets.
Overview
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $101.1k | $21.60 |
| − Vacancy | −$6.6k | −$1.40 |
| EGI | $94.5k | $20.20 |
| − OpEx | −$23.6k | −$5.05 |
| NOI | $70.9k | $15.15 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Forest Lake
- County
- Washington
- State
- Minnesota
- Longitude
- -92.9852
- Latitude
- 45.2789
