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    Melrose Industrial Property with Showroom Title is generated by Realmo AI

    711 E Main Street, Melrose, MN 56352

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    For Sale
    $339,000

    7,352 SF industrial building with showroom and warehouse space.

    Type:Commercial/Industrial
    Property size:
    1,415 SF
    Lot size:
    2.07 Acres
    Price / SF:
    $239/SF
    Added:
    Jun 26, 2024
    Days on Market:
    732
    Last Refresh:
    May 20 at 1:49 am

    Property Features for 711 E Main Street

    General Information

    Standard status
    Active
    Size
    1,415 SF
    Lot size
    2.07 Acres
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    1951

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    Scott M Schmitt

    Listing office Orion Real Estate Advisors, Inc

    Listing date Jun 26, 2024

    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 Orion Real Estate Advisors, Inc

    HighLights

    • Large 7,352 SF industrial building suitable for owner occupancy
    • High visibility corner location near downtown on East Main Street
    • Heavy three‑phase power
    • Potential for future building expansion on 2.07 acres comprised of 4 parcels
    • Recently renovated exterior (new steel exterior and roof in 2010)
    • Includes office (1,415 SF), shop/warehouse (5,937 SF), reception, and showroom areas

    Overview

    This 7,352 square foot industrial property is located on East Main Street in Melrose, offering high visibility due to its corner location near downtown. Constructed in 1951 with additions in 1985 and 1987, the building underwent exterior renovations in 2010, including a new steel exterior and roof. The building's layout includes a reception area, a showroom, office space, a shop, and warehouse areas. Approximately 1,415 square feet is dedicated to office space, while the shop and warehouse areas cover around 5,937 square feet. The property features heavy three-phase power. Several cranes are currently in place and may be available for purchase. Situated on 2.07 acres divided into four separate parcels, the property offers potential for future building expansion. This property is suitable for an owner-occupier.

    Local Financial Insights For 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 $28.4k $20.04
    − Vacancy −$1.2k −$0.88
    EGI $27.1k $19.16
    − OpEx −$8.1k −$5.75
    NOI $19.0k $13.41
    1,415 SF · lease $20.04/SF/yr · vacancy 4.40% · expense 30.00%

    Alternative Uses

    Best Use
    Retail
    $271.1K
    $237.2K – $316.3K (±1% cap)
    NOI $18,976 @ 7.0% cap · market cap 5.60%
    Second Best
    Office B
    $233.1K
    $203.9K – $271.9K (±1% cap)
    NOI $16,314 @ 7.0% cap · market cap 4.81%
    Theoretical Best
    Office A
    $309.8K
    $271.1K – $361.5K (±1% cap)
    NOI $21,687 @ 7.0% cap · market cap 6.40%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Empire Memorials Inc General Contractor

    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
    Melrose
    County
    Stearns
    State
    Minnesota
    Longitude
    -94.8267
    Latitude
    45.6747

    FAQs

    What type of property is this?
    Manufacturing property - 7,352 SF industrial building with showroom and warehouse space.
    Where is this manufacturing property located?
    The property is located at 711 E Main Street Melrose, MN.
    What is the asking price?
    The asking price for this property is $339,000.
    What are key features of this property?
    This property features: Large 7,352 SF industrial building suitable for owner occupancy; High visibility corner location near downtown on East Main Street; Heavy three‑phase power
    More about this property
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