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

    643 2Nd St South Waite Park, MN 56387

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $15 SF/Yr

    Former spa space in a high-traffic commercial area.

    We can help!

    Listing Contact
    Maria Berdan
    Maria Berdan
    Source: Svn

    Listing Agent: Maria Berdan

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

    Learn more

    Overview

    Turn-Key Retail Suite Available

    Located at the intersection of 6th Avenue South and 2nd Street South in Waite Park, Minnesota, this former Hautigo Spa space offers a turnkey solution for an established spa or salon, while also providing flexibility for other uses. Situated within the Sundial Village shopping center, the property benefits from a lively commercial hub with a variety of retail and service establishments. The area is characterized by its mix of commercial properties, playing a key role in supporting the city's economic activity. Building and pylon signage are available. Ample free parking is provided. Nearby businesses include Home Depot, Deerwood Bank, Magnify CU, Texas Roadhouse, and Hobby Lobby, contributing to the high traffic in the area. The estimated operating expenses for 2026 are $11.24 per square foot.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Waite Park
    County
    Stearns
    State
    Minnesota
    Longitude
    -94.22501
    Latitude
    45.55733

    Nearby Similar for Lease

    • $21 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
    • $2,160 /Mo
      12,009 SF

      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
    • $24 SF/Yr
      961 SF

      Office Space for Rent

      Varied office spaces available to fit needs and budget.
      110 2Nd St S, Waite Park, MN 56304
      View Details
    • $8 SF/Yr
      4,100 SF

      Versatile Commercial Space in Waite Park

      Warehouse and office space suitable for industrial or commercial business.
      300-308 33Rd Ave 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
    • Contact for pricing
      34 SF

      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
    • Contact for pricing
      12,500 SF

      Renovated Retail Space Available

      Recently renovated retail space suitable for non-profit or school-adjacent use.
      620-624 Sundial Dr, Waite Park, MN 56387
      View Details
    • $25 SF/Yr
      5,760 SF

      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
      35,002 SF

      Retail Space in Waite Park

      Retail space with showroom, warehouse, and drive-in door.
      1111 2Nd St S, Waite Park, MN 56387
      View Details
    • $20 SF/Yr
      6,442 SF

      Prime Retail Space in Waite Park

      Retail space with high visibility in a Home Depot outlot.
      575 2Nd St S, 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
      16,000 SF

      Waite Park Build-to-Suit Opportunity

      Development opportunity in West River Business Park, Waite Park, MN.
      452 Great Oak Dr, Waite Park, MN 56387
      View Details

    FAQs

    What type of property is this?
    Retail space - Former spa space in a high-traffic commercial area.
    Where is this retail space located?
    The property is located at 643 2Nd St South Waite Park, MN.
    What is the lease rate?
    The lease rate is $15 SF/Yr.
    What are key features of this property?
    This property features: - Turn-key retail suite, ideal for immediate operation of a spa or salon.; - High-traffic location at the intersection of 6th Avenue South and 2nd Street South in Waite Park.; - Located in Sundial Village shopping center, a lively commercial hub.
    (320) 493-1723
    Request Owner's contact information
    643 2Nd St South 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.
    643 2Nd St South
    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
    643 2Nd St South 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
    Maria Berdan
    Maria Berdan
    (320) 493-1723 (320) 257-3988 (320) 253-0003
    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!