Pole Building on Buildable
For Sale
$234,000
38738 Windsor Avenue, Crosslake, MN 56442
Nearly an acre buildable lot with a 30-by-40 insulated pole building featuring 11' ceilings and a 10' garage door.
Property Size1,200 SF
Lot Size1.00 Acre
Price / SF$195
Days on Market532
Property Features for 38738 Windsor Avenue
General Information
Standard status
Active
Size
1,200 SF
Lot size
1.00 Acre
Property subtype
Lots/Land
Warehouse & Industrial
Clear Height
11 ft
Drive-In Doors
1
Taxes and HOA fees
Annual Taxes
$576
Listing Agency:
Counselor Realty, Inc.
(612) 282-4663
Listed By:
Todd A Chester
(612) 282-4663
Source:
Exitrealty
Added: Feb 25, 2025
Changed: Aug 8
Last Checked: Jul 16 at 7:15PM
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 Counselor Realty, Inc.
Investment Insights
Based on property information with market context.
This nearly 1-acre buildable residential lot includes a 30' x 40' insulated pole building with sheetrock, 11' ceilings, and a 10' garage door. The space has a concrete floor and full power/220, along with a service door for convenient access.
The property is set up for flexible use, including an open area that can support RV parking or serve as a building pad for a vacation home. A full circular drive is provided for easy in-and-out use for boats and campers.
The site also offers on-site access for recreation, with the ability to take a side-by-side or golf cart down toward the marina or Moonlight Bay.
The property is set up for flexible use, including an open area that can support RV parking or serve as a building pad for a vacation home. A full circular drive is provided for easy in-and-out use for boats and campers.
The site also offers on-site access for recreation, with the ability to take a side-by-side or golf cart down toward the marina or Moonlight Bay.
Key Highlights
- Nearly 1‑acre buildable residential lot in Crosslake (open builder).
- 30' x 40' insulated, sheet‑rocked pole building with 11' ceilings.
- 10' garage door and concrete floor in the pole building.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$8,538
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.65%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$170,760
$170.8K
Cap Rate 7%
$121,971
$122.0K
Cap Rate 9%
$94,867
$94.9K
Market Conditions
NOI Build-Up for 1,200 SF
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.
Gross rent
$10.5K $8.71/SF
− Vacancy
−$408 −$0.34/SF
EGI
$10.0K $8.37/SF
− OpEx
−$1.5K −$1.26/SF
NOI
$8.5K $7.11/SF
Area
Crow Wing County, MN
Vacancy
3.90%
Lease Rate
$8.71 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$170,760
Cap Rate 7%
$121,971
Cap Rate 9%
$94,867
Alternative Uses
Best Use
Warehouse
$122.0K
$106.7K – $142.3K
NOI $8,538 @ 7.0% cap · market cap 3.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$254.8K
$222.9K – $297.2K
NOI $17,833 @ 7.0% cap · market cap 7.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
11 ft
Clear height
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
10
Businesses Nearby
Explore this area
Business Placement
Demographics for 56442, MN
2,720
Population
3,415
Households
0.8
Avg Household Size
60
Median Age
34%
College-Educated
96%
High-School Grad
35.2 sq mi
ZIP Area
77
Density / Sq Mi
$85,179
Median Household Income
$45,481
Median Earnings
$1,071
Median Rent
$534,100
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - Nearly an acre buildable lot with a 30-by-40 insulated pole building featuring 11' ceilings and a 10' garage door.
Where is this residential land & home lot located?
The property is located at 38738 Windsor Avenue Crosslake, MN.
What is the asking price?
The asking price for this property is $234,000.
What are key features of this property?
This property features: Nearly 1‑acre buildable residential lot in Crosslake (open builder).; 30' x 40' insulated, sheet‑rocked pole building with 11' ceilings.; 10' garage door and concrete floor in the pole building.
