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    Versatile Commercial Property on 7th Street Title is generated by Realmo AI

    1215 N 7th Street, Lake City, MN 55041

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    For Sale
    $1,500,000

    Well-built commercial property with flexible office and warehouse spaces.

    Type:Commercial/Industrial
    Property size:
    18,000 SF
    Lot size:
    0.96 Acres
    Price / SF:
    $83/SF
    Added:
    Mar 12, 2026
    Days on Market:
    71
    Last Refresh:
    Apr 6 at 3:09 am

    Property Features for 1215 N 7th Street

    General Information

    Standard status
    Active
    Size
    18,000 SF
    Lot size
    0.96 Acres
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    2005

    We can help!

    Listing Contact
    Robert Bucky Beeman
    Robert Bucky Beeman

    Listing agent Robert Bucky Beeman License #40149580

    Listing office Realty Growth Inc.

    Listing date Mar 12, 2026

    Source Exitrealty

    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 Realty Growth Inc.

    HighLights

    • High visibility location on 7th Street with excellent signage potential.
    • Versatile spaces suitable for professional offices, conference rooms, and warehouse use.
    • Flexibility to customize space to meet specific business requirements.
    • Ample asphalt parking for tenants and visitors.
    • Separate heating sources and meters for each unit.
    • Well‑built metal frame construction (Year Built: 2005).

    Overview

    This commercial property offers the opportunity to purchase or lease space suitable for a variety of business needs. The building features metal frame construction and versatile spaces including professional offices, conference rooms, and warehouse areas. The property is equipped with separate heating sources and meters for each unit. Shared amenities include bathrooms, a lunch room, and convenient entrances. Ample asphalt parking surrounds the building, providing parking for tenants and visitors. The property benefits from high visibility on 7th Street and offers excellent signage potential. There are currently three units available for lease, with sizes including Suite A at 3305 square feet, Suite B1 at 530 square feet, and Suite C at 1590 square feet. Lease rates are $11 per square foot, plus NNN expenses of $3.23 per square foot. The property offers the flexibility to customize the space to meet specific business requirements, accommodating needs for professional office space, open warehouse space, or a combination of both. This property is located in Lake City, MN.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Goihl Chiropractic Alternative Medicine Practice Rivers Edge Wellness Gym & Fitness Center ActivePT - Lake City Medical Clinic Balanced Body Massage ... Alternative Medicine Practice

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Lake City
    County
    Wabasha
    State
    Minnesota
    Longitude
    -92.2858
    Latitude
    44.4547

    Nearby Similar for Sale

    • $375,000

      Downtown Lake City Commercial Building

      Commercial building in downtown Lake City near Lake Pepin.
      108 W Center Street, Lake City, MN 55041
      View Details
    • $395,000

      Lake City Landmark For Sale

      Well-maintained commercial building in downtown Lake City, Minnesota.
      100 S Washington Street, Lake City, MN 55041
      View Details

    FAQs

    What type of property is this?
    Flex space - Well-built commercial property with flexible office and warehouse spaces.
    Where is this flex space located?
    The property is located at 1215 N 7th Street Lake City, MN.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: High visibility location on 7th Street with excellent signage potential.; Versatile spaces suitable for professional offices, conference rooms, and warehouse use.; Flexibility to customize space to meet specific business requirements.
    (507) 289-8000
    We can help!
    Listing Contact
    Robert Bucky Beeman
    Robert Bucky Beeman
    Real Estate License ID: 40149580
    Learn More
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    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.

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