Orchard Retail Storefront &
For Sale
$979,000
20758 528th Avenue, Lake Crystal, MN 56055
Orchard storefront with packer/processing areas, commercial kitchen, and included cheese and pie business on 7.8 acres.
Property Size6,640 SF
Price / SF$147.44
Days on Market81
Property Features for 20758 528th Avenue
General Information
Standard status
Active
Size
6,640 SF
Property subtype
Commercial
Zoning
Agriculture, Business/Commercial
Taxes and HOA fees
Annual Taxes
$4,273
Building Details
Building Size
6,640 SF
Year Built
1984
Stories
1
Units
2
Listing Agency:
LandProz Real Estate, LLC
(507) 701-9585
Listed By:
Brian Haugen
(507) 701-9585
Source:
Juverealestate
Added: Jun 4
Changed: Aug 23
Last Checked: Aug 23 at 3:20AM
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 LandProz Real Estate, LLC
Investment Insights
Based on property information with market context.
This Welsh heritage farm property includes an orchard storefront and a fully equipped cheese and pie operation. The retail apple storefront is set on 7.8 acres and features a packer and processing area, a commercial kitchen, and a 1920-square-foot retail space dedicated to the Cheese and Pie Mongers. The total building square footage is 4,765 (excluding the 666-square-foot open canopy in front). Improvements were built in 1984 and 1987, with updates completed in 2004. Outbuildings include a modern barn, walk-in coolers and freezers, and commercial-grade kitchen space, along with equipment storage.
The property is positioned along high-traffic Hwy 169, with over 13,350 vehicles per day on average according to MN DOT’s 2024 count, and it draws more than 500 weekly visitors from the Mankato area and tourism traffic exploring Minnesota’s river valleys. The sale is offered as a turnkey operation and includes inventory, commercial equipment, and display cases.
An apple orchard built in 2008 is located just north of the buildings and includes water and irrigation to the trees. The orchard includes multiple varieties and is estimated at about 500+ trees.
The property is positioned along high-traffic Hwy 169, with over 13,350 vehicles per day on average according to MN DOT’s 2024 count, and it draws more than 500 weekly visitors from the Mankato area and tourism traffic exploring Minnesota’s river valleys. The sale is offered as a turnkey operation and includes inventory, commercial equipment, and display cases.
An apple orchard built in 2008 is located just north of the buildings and includes water and irrigation to the trees. The orchard includes multiple varieties and is estimated at about 500+ trees.
Key Highlights
- 7.8‑acre Welsh Heritage Farms property with an orchard storefront and included Cheese and Pie Mongers business
- Retail apple storefront with packer/processing area, commercial kitchen, and 1,920 SF retail space for the business
- Cheese and Pie Mongers building totals 4,765 SF (excludes 666 SF open canopy), plus 1,920 SF pie shop with 960 SF finished upper level
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
$58,883
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
6.01%
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%
$1,177,660
$1.2M
Cap Rate 7%
$841,186
$841.2K
Cap Rate 9%
$654,256
$654.3K
Market Conditions
NOI Build-Up for 6,640 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
$91.6K $13.80/SF
− Vacancy
−$7.5K −$1.13/SF
EGI
$84.1K $12.67/SF
− OpEx
−$25.2K −$3.80/SF
NOI
$58.9K $8.87/SF
Area
Blue Earth County, MN
Vacancy
8.20%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
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%
$1,177,660
Cap Rate 7%
$841,186
Cap Rate 9%
$654,256
Alternative Uses
Best Use
Retail
$841.2K
$736.0K – $981.4K
NOI $58,883 @ 7.0% cap · market cap 6.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.31M
$1.15M – $1.53M
NOI $91,865 @ 7.0% cap · market cap 9.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5
Businesses Nearby
Explore this area
Business Placement
Demographics for 56055, MN
3,916
Population
1,712
Households
2.3
Avg Household Size
41
Median Age
29%
College-Educated
97%
High-School Grad
118.2 sq mi
ZIP Area
33
Density / Sq Mi
$83,452
Median Household Income
$50,453
Median Earnings
$753
Median Rent
$218,000
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Farm - Orchard storefront with packer/processing areas, commercial kitchen, and included cheese and pie business on 7.8 acres.
Where is this farm located?
The property is located at 20758 528th Avenue Lake Crystal, MN.
What is the asking price?
The asking price for this property is $979,000.
What are key features of this property?
This property features: 7.8‑acre Welsh Heritage Farms property with an orchard storefront and included Cheese and Pie Mongers business; Retail apple storefront with packer/processing area, commercial kitchen, and 1,920 SF retail space for the business; Cheese and Pie Mongers building totals 4,765 SF (excludes 666 SF open canopy), plus 1,920 SF pie shop with 960 SF finished upper level
