Corner Retail and Medical
For Sale
Contact for pricing
209 Washington Street, Brainerd, MN 56401
Modern 2018 building with drive-thru lane, designed for retail or medical office uses with ample on-site parking.
Property Size3,550 SF
Price / SF$364.79
Days on Market156
Property Features for 209 Washington Street
General Information
Standard status
Active
Size
3,550 SF
Total Parking Spaces
41
Property subtype
Retail, Multifamily
Zoning
CC - Commercial Corridor, TN-2 - Traditional Neighborhood 2
Lease Type
NNN
Investment Type
Owner/User
Building Details
Year Built
2018
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Close-Converse Commercial Properties
Listed By:
Chris Close, CCIM · License #MN 20286846
(218) 828-3334
Source:
Crexi
Added: Apr 9
Changed: Sep 10
Last Checked: Sep 11 at 6:08AM
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 Close-Converse Commercial Properties
Investment Insights
Based on property information with market context.
This modern commercial building was constructed in 2018 and is described as a turn-key opportunity for medical use or pharmacy. The property includes a functional interior layout that can accommodate retail showroom space, professional offices, or customer service areas.
Located on a highly visible commercial corner along the Washington Street corridor, the site is positioned for easy access and customer visibility. The building features a convenient drive-thru lane, along with ample on-site parking complemented by an adjacent parking lot.
The configuration supports flexible floorplan use across retail and office-oriented applications, with drive-thru capability intended for quick-service operations associated with pharmacy or related retail concepts.
Located on a highly visible commercial corner along the Washington Street corridor, the site is positioned for easy access and customer visibility. The building features a convenient drive-thru lane, along with ample on-site parking complemented by an adjacent parking lot.
The configuration supports flexible floorplan use across retail and office-oriented applications, with drive-thru capability intended for quick-service operations associated with pharmacy or related retail concepts.
Key Highlights
- Modern commercial building constructed in 2018 on a prominent Washington Street corner
- Drive‑thru lane designed for pharmacy, retail, office, or quick‑service restaurant concepts
- Flexible interior layout for retail showroom space, professional offices, or customer service areas
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
$43,267
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
3.34%
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%
$865,340
$865.3K
Cap Rate 7%
$618,100
$618.1K
Cap Rate 9%
$480,744
$480.7K
Market Conditions
NOI Build-Up for 3,550 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
$78.8K $22.20/SF
− Vacancy
−$6.7K −$1.89/SF
EGI
$72.1K $20.31/SF
− OpEx
−$28.8K −$8.13/SF
NOI
$43.3K $12.19/SF
Area
Crow Wing County, MN
Vacancy
8.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
40.00%
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%
$865,340
Cap Rate 7%
$618,100
Cap Rate 9%
$480,744
Alternative Uses
Best Use
Healthcare Medical
$618.1K
$540.8K – $721.1K
NOI $43,267 @ 7.0% cap · market cap 3.34%
Second Best
Specialty Retail
$607.9K
$532.0K – $709.3K
NOI $42,556 @ 7.0% cap · market cap 3.29%
Theoretical Best
Office A
$753.7K
$659.5K – $879.3K
NOI $52,756 @ 7.0% cap · market cap 4.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,132
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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- Mark C. Carlson, PharmD — 108 S 6th St, Brainerd, MN 56401
Frequently Asked Questions
What type of property is this?
Drug store - Modern 2018 building with drive-thru lane, designed for retail or medical office uses with ample on-site parking.
Where is this drug store located?
The property is located at 209 Washington Street Brainerd, MN.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: Modern commercial building constructed in 2018 on a prominent Washington Street corner; Drive‑thru lane designed for pharmacy, retail, office, or quick‑service restaurant concepts; Flexible interior layout for retail showroom space, professional offices, or customer service areas
