Office Unit with Lake
For Sale
$115,000
1710 N Lakeshore Drive #8, Lake City, MN 55041
A private workspace features a meeting area, compact kitchen, and three-quarter bath.
Property Size514 SF
Price / SF$223.74
Days on Market10
Property Features for 1710 N Lakeshore Drive #8
General Information
Standard status
Active
Size
514 SF
Property subtype
Commercial
Zoning
Business/Commercial
Additional Details
HOA Fee
$158
Property Use
Office
Taxes and HOA fees
Annual Taxes
$722
Amenities
3/4 bath
small kitchen space
meeting space
association-owned beach
2 dock spaces
fine dining onsite
Building Details
Building Size
514 SF
Year Built
2003
Stories
1
Units
1
Listing Agency:
Coldwell Banker Realty
(507) 288-1234
Listed By:
Daniel Wagner
(507) 254-4982
Source:
Homecrownrealty
Added: Oct 16
Changed: Oct 24
Last Checked: Oct 23 at 8:27PM
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 Coldwell Banker Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 514-square-foot office unit, built in 2003, has a private workspace, meeting area, compact kitchen, and three-quarter bath. The configuration provides dedicated office space alongside areas for meetings and basic food preparation.
Association-owned beach access on Lake Pepin and two dock spaces are included. Fine dining is available onsite, with the Mississippi River Valley and Lake Pepin outside the building.
Association-owned beach access on Lake Pepin and two dock spaces are included. Fine dining is available onsite, with the Mississippi River Valley and Lake Pepin outside the building.
Key Highlights
- 514‑square‑foot private office unit
- Includes a three‑quarter bath, compact kitchen, and meeting area
- Association‑owned beach access on Lake Pepin
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$7,577
Cap Rate
6.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$151,540
$151.5K
Cap Rate 7%
$108,243
$108.2K
Cap Rate 9%
$84,189
$84.2K
Market Conditions
NOI Build-Up for 514 SF
Gross rent
$11.1K $21.60/SF
− Vacancy
−$999 −$1.94/SF
EGI
$10.1K $19.66/SF
− OpEx
−$2.5K −$4.91/SF
NOI
$7.6K $14.74/SF
Area
Wabasha County, MN
Vacancy
9.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$151,540
Cap Rate 7%
$108,243
Cap Rate 9%
$84,189
Alternative Uses
Best Use
Office B
$108.2K
$94.7K – $126.3K
NOI $7,577 @ 7.0% cap · market cap 6.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$151.0K
$132.1K – $176.2K
NOI $10,569 @ 7.0% cap · market cap 9.19%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
153
Businesses Nearby
Explore this area
Business Placement
Demographics for 55041, MN
7,800
Population
3,825
Households
2
Avg Household Size
49
Median Age
31%
College-Educated
96%
High-School Grad
143.9 sq mi
ZIP Area
54
Density / Sq Mi
$83,673
Median Household Income
$47,845
Median Earnings
$992
Median Rent
$265,300
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - A private workspace features a meeting area, compact kitchen, and three-quarter bath.
Where is this office unit located?
The property is located at 1710 N Lakeshore Drive #8 Lake City, MN.
What is the asking price?
The asking price for this property is $115,000.
What are key features of this property?
This property features: 514‑square‑foot private office unit; Includes a three‑quarter bath, compact kitchen, and meeting area; Association‑owned beach access on Lake Pepin
