Heated Insulated Storage
New
For Sale
$199,900
19346 Caleb Circle, Brainerd, MN 56401
LAND - Brainerd, MN
Property Size1,728 SF
Lot Size0.04 Acres
Price / SF$115.68
Days on Market4
Property Features for 19346 Caleb Circle
General Information
Property type
Land
Property subtype
Other
Lot features
Tree Coverage - Light
High school district
Brainerd
Directions
Take Hwy 371 North, turn across from North Long Lake, take Moberg Lane, turn Right on Caleb Circle, to property on Right.
Standard status
Active
APN
99100823
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
1014
Utilities
Utilities
Electricity Available
Amenities
clubhouse
Listing Agency:
eXp Realty
(612) 751-9303
Listed By:
Chad Schwendeman
(612) 751-9303
Added: Aug 13
Changed: Aug 14
Last Checked: Aug 16 at 11:06PM
MLS# 7125461
Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 48 x 36 storage warehouse provides an enclosed, heated space with full insulation and in-floor heat. Electrical outlets are installed throughout, including multiple outlets at the rear, and the building includes commercial-grade shelving and cabinets. Steel siding and roofing reduce exterior maintenance requirements, while electricity is available to the property.
The building is positioned on Hwy 371 across from North Long Lake. Association services include lawn care, plowing, maintained tar roads, and access to a clubhouse with a meeting room, bathrooms, kitchenette, fireplace, and a wash area for boats, cars, and recreational equipment. The property occupies 0.039 acres.
The building is positioned on Hwy 371 across from North Long Lake. Association services include lawn care, plowing, maintained tar roads, and access to a clubhouse with a meeting room, bathrooms, kitchenette, fireplace, and a wash area for boats, cars, and recreational equipment. The property occupies 0.039 acres.
Key Highlights
- 48 x 36 heated and insulated storage building
- In‑floor heat with electrical outlets throughout
- Steel siding and roof for reduced exterior maintenance
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
$12,294
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
6.15%
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%
$245,880
$245.9K
Cap Rate 7%
$175,629
$175.6K
Cap Rate 9%
$136,600
$136.6K
Market Conditions
NOI Build-Up for 1,728 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
$15.1K $8.71/SF
− Vacancy
−$587 −$0.34/SF
EGI
$14.5K $8.37/SF
− OpEx
−$2.2K −$1.26/SF
NOI
$12.3K $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%
$245,880
Cap Rate 7%
$175,629
Cap Rate 9%
$136,600
Alternative Uses
Best Use
Warehouse
$175.6K
$153.7K – $204.9K
NOI $12,294 @ 7.0% cap · market cap 6.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$366.8K
$321.0K – $428.0K
NOI $25,679 @ 7.0% cap · market cap 12.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 56401, MN
30,632
Population
16,038
Households
1.9
Avg Household Size
40
Median Age
24%
College-Educated
94%
High-School Grad
322.6 sq mi
ZIP Area
95
Density / Sq Mi
$70,269
Median Household Income
$40,172
Median Earnings
$918
Median Rent
$237,900
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Pape's Moving LLC — 19167 Soder Rd, Brainerd, MN 56401
Frequently Asked Questions
What type of property is this?
Warehouse - Heated, insulated storage space with in-floor heat, electrical outlets, shelving, and durable steel exterior construction.
Where is this warehouse located?
The property is located at 19346 Caleb Circle Brainerd, MN.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: 48 x 36 heated and insulated storage building; In‑floor heat with electrical outlets throughout; Steel siding and roof for reduced exterior maintenance
