Drug Store at Signalized
For Sale
$1,259,914
202 South 2nd Avenue, Virginia, MN 55792
Signalized intersection positioning provides direct access and consistent drive-by exposure.
Property Size3,000 SF
Days on Market61
Property Features for 202 South 2nd Avenue
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Commercial
Lease Term
±4.75 Yrs
Net Operating Income
$132,291
Building Details
Building Size
3,000 SF
Listing Agency:
Bang Realty
(925) 326-2135
Listed By:
Vincent Tanzi · License #02192818 (CA)
(925) 326-2135
Source:
Matthews
Added: Jul 3
Changed: Aug 30
Last Checked: Aug 31 at 12:42PM
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 Bang Realty
Investment Insights
Based on property information with market context.
This drug store property occupies a hard-corner position at a signalized intersection, providing direct access and visibility to passing traffic. The site is located at 202 South 2nd Avenue in Virginia, Minnesota.
Nearby services include a U.S. Bank branch and a St. Louis County Government Services Center, each less than half a mile away. North Star Elementary School is approximately 0.6 miles from the property. The tenant has renewed a five-year option beginning in October 2025, providing a defined continuation of occupancy.
Nearby services include a U.S. Bank branch and a St. Louis County Government Services Center, each less than half a mile away. North Star Elementary School is approximately 0.6 miles from the property. The tenant has renewed a five-year option beginning in October 2025, providing a defined continuation of occupancy.
Key Highlights
- Hard‑corner property at a signalized intersection
- Less than half a mile from a U.S. Bank branch
- Less than half a mile from a St. Louis County Government Services Center
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
$81,462
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
6.47%
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%
$1,629,240
$1.6M
Cap Rate 7%
$1,163,743
$1.2M
Cap Rate 9%
$905,133
$905.1K
Market Conditions
NOI Build-Up for 3,000 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
$124.6K $41.52/SF
− Vacancy
−$15.9K −$5.31/SF
EGI
$108.6K $36.21/SF
− OpEx
−$27.2K −$9.05/SF
NOI
$81.5K $27.15/SF
Area
St. Louis County, MN
Vacancy
12.80%
Lease Rate
$41.52 /SF/Yr
Expense Ratio
25.00%
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%
$1,629,240
Cap Rate 7%
$1,163,743
Cap Rate 9%
$905,133
Alternative Uses
Best Use
Specialty Retail
$1.16M
$1.02M – $1.36M
NOI $81,462 @ 7.0% cap · market cap 6.47%
Second Best
Retail
$405.0K
$354.4K – $472.5K
NOI $28,350 @ 7.0% cap · market cap 2.25%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
696
Businesses Nearby
21k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 61%
Dining 21%
Hotels & Casinos 11%
Home Improvements & Furnishings 8%
Holiday Station Store
Shops & Services
6,231 visits/mo
0.3 miles
Domino's Pizza
Dining
2,511 visits/mo
0.1 miles
Marathon
Shops & Services
2,205 visits/mo
0.5 miles
Quality Inn & Suites
Hotels & Casinos
2,195 visits/mo
0.2 miles
U.S. Bank
Shops & Services
1,912 visits/mo
0.1 miles
Demographics for 55792, MN
9,827
Population
5,628
Households
1.7
Avg Household Size
45
Median Age
20%
College-Educated
93%
High-School Grad
95.7 sq mi
ZIP Area
103
Density / Sq Mi
$50,616
Median Household Income
$40,275
Median Earnings
$795
Median Rent
$128,200
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- L'bri Pure n' Natural with Barbara — 401 8th St S Apt. B, Virginia, MN 55792
- Thrifty White Pharmacy — 202 S 2nd Ave W, Virginia, MN 55792
- Ellen C. Taube, RPh — 306 Chestnut St, Virginia, MN 55792
- Mark Walters — 306 Chestnut St, Virginia, MN 557922524
Frequently Asked Questions
What type of property is this?
Drug store - Signalized intersection positioning provides direct access and consistent drive-by exposure.
Where is this drug store located?
The property is located at 202 South 2nd Avenue Virginia, MN.
What is the asking price?
The asking price for this property is $1,259,914.
What are key features of this property?
This property features: Hard‑corner property at a signalized intersection; Less than half a mile from a U.S. Bank branch; Less than half a mile from a St. Louis County Government Services Center
