1031 Exchange Property with Multiple
New
For Sale
$1,600,000
Pending
16777 Marketplace Drive, Big Lake, MN 55309
The fully leased offering combines fuel, vehicle washing, convenience retail, restaurant, and additional retail components.
Property Size12,528 SF
Days on Market5
Property Features for 16777 Marketplace Drive
General Information
Standard status
Pending
Size
12,528 SF
Zoning
Business/Commercial
Occupancy
100%
Automotive
Automotive Uses
fuel station, car wash
Convenience Store
Yes
Tenancy & Operations
Tenant in Place
Yes
Real Estate Included
Yes
Additional Details
Cap Rate
8.07%
Taxes and HOA fees
Annual Taxes
$30,334
Amenities
Natural Gas
No
Business,Land,Leases
City Water/Connected
2.24
950+3186+950+3168
12528
Attached Garage,Asphalt,Guest Parking,Heated Garage,Parking Lot,Paved Lot,More Parking Onsite for Fee
Building Details
Building Size
12,528 SF
Year Built
2007
Listing Agency:
Century 21 Atwood
(612) 656-1200
Listed By:
Chris Scanlon
Source:
Imetroproperty
Added: Oct 26
Changed: Oct 28
Last Checked: Oct 28 at 2:35PM
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 Century 21 Atwood
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Investment Insights
Based on property information with market context.
This 12,528-square-foot commercial property, built in 2007, is fully leased and includes a gas station, car wash, convenience store, restaurant, and retail space. The sale includes the real estate, land, and leases. Business/commercial zoning and natural gas service are noted for the property.
Located at 16777 Marketplace Drive in Big Lake, Minnesota, the site has city water connected. The property also includes a parking lot and an attached heated garage, with additional onsite parking available for a fee. The reported cap rate is 8.07%.
Located at 16777 Marketplace Drive in Big Lake, Minnesota, the site has city water connected. The property also includes a parking lot and an attached heated garage, with additional onsite parking available for a fee. The reported cap rate is 8.07%.
Key Highlights
- 12,528‑square‑foot property built in 2007
- 100% leased; reported cap rate of 8.07%
- Includes a gas station, car wash, convenience store, restaurant, and retail space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$136,101
Cap Rate
8.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,722,020
$2.7M
Cap Rate 7%
$1,944,300
$1.9M
Cap Rate 9%
$1,512,233
$1.5M
Market Conditions
NOI Build-Up for 12,528 SF
Gross rent
$203.0K $16.20/SF
− Vacancy
−$8.5K −$0.68/SF
EGI
$194.4K $15.52/SF
− OpEx
−$58.3K −$4.66/SF
NOI
$136.1K $10.86/SF
Area
Sherburne County, MN
Vacancy
4.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,722,020
Cap Rate 7%
$1,944,300
Cap Rate 9%
$1,512,233
Alternative Uses
Best Use
Specialty Retail
$2.65M
$2.32M – $3.09M
NOI $185,477 @ 7.0% cap · market cap 11.59%
Second Best
Retail
$2.20M
$1.93M – $2.57M
NOI $154,300 @ 7.0% cap · market cap 9.64%
Theoretical Best
Office A
$2.99M
$2.62M – $3.49M
NOI $209,224 @ 7.0% cap · market cap 13.08%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
67
Businesses Nearby
605
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 100%
Americas Best Value Inn Big Lake Becker
Hotels & Casinos
605 visits/mo
0.1 miles
Demographics for 55309, MN
20,387
Population
7,541
Households
2.7
Avg Household Size
35
Median Age
31%
College-Educated
95%
High-School Grad
62.3 sq mi
ZIP Area
327
Density / Sq Mi
$118,387
Median Household Income
$56,262
Median Earnings
$1,463
Median Rent
$335,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
1031 exchange property - The fully leased offering combines fuel, vehicle washing, convenience retail, restaurant, and additional retail components.
Where is this 1031 exchange property located?
The property is located at 16777 Marketplace Drive Big Lake, MN.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 12,528‑square‑foot property built in 2007; 100% leased; reported cap rate of 8.07%; Includes a gas station, car wash, convenience store, restaurant, and retail space
