Auto Building Approved For
For Sale
Contact for pricing
2124 Vermillion St, Hastings, MN
Auto building suitable for dealership, body shop, or service.
Property Size2,800 SF
Lot Size0.50 Acres
Price / SF$249.64
Days on Market338
Property Features for 2124 Vermillion St
General Information
Standard status
Active
Size
2,800 SF
Lot size
0.50 Acres
Property subtype
RETAIL
Lease Type
NNN
Properties For Sale
at 2124 Vermillion St Contact us- Floor
- 1
- Size
- 2,800 SF
- Type
- RETAIL
- Lease Type
- NNN
- Availability
- AVAILABLE
- Sublease
- No
Auto Dealer/Service Building For Lease
Great auto building, approved for any type of auto use. Currently a dealership, could...
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Listing Agency:
Capital Commercial Partners
(651) 262-7809
Listed By:
Nick E Carmichael
(651) 262-7809
Source:
Moodyscre
Added: Sep 17, 2025
Changed: Aug 8
Last Checked: Aug 19 at 2:04PM
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 Capital Commercial Partners
Investment Insights
Based on property information with market context.
This 2,800 square foot building is approved for any type of auto use. Currently operating as a dealership, the property is also suitable for use as a body shop or service building. Alternative uses include specialty retail or showroom space.
Key Highlights
- Approved for any type of auto use.
- Currently operating as a dealership.
- Suitable for body shop or service building.
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
$30,418
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
4.35%
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%
$608,360
$608.4K
Cap Rate 7%
$434,543
$434.5K
Cap Rate 9%
$337,978
$338.0K
Market Conditions
NOI Build-Up for 2,800 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
$45.4K $16.20/SF
− Vacancy
−$1.9K −$0.68/SF
EGI
$43.5K $15.52/SF
− OpEx
−$13.0K −$4.66/SF
NOI
$30.4K $10.86/SF
Area
Dakota County, MN
Vacancy
4.20%
Lease Rate
$16.20 /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%
$608,360
Cap Rate 7%
$434,543
Cap Rate 9%
$337,978
Alternative Uses
Best Use
Industrial
$434.5K
$380.2K – $507.0K
NOI $30,418 @ 7.0% cap · market cap 4.35%
Second Best
Retail
$421.8K
$369.1K – $492.2K
NOI $29,529 @ 7.0% cap · market cap 4.22%
Theoretical Best
Healthcare Medical
$689.0K
$602.9K – $803.9K
NOI $48,233 @ 7.0% cap · market cap 6.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
222
Businesses Nearby
67k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 64%
Dining 36%
Kwik Trip
Shops & Services
38,490 visits/mo
0.5 miles
Applebee's
Dining
7,570 visits/mo
0.1 miles
Las Margaritas
Dining
6,661 visits/mo
0.1 miles
KFC
Dining
5,280 visits/mo
0.4 miles
O'Reilly Auto Parts
Shops & Services
3,267 visits/mo
0.1 miles
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
- Hastings Automotive, Inc. Service — 3625 Vermillion St, Hastings, MN 55033
- Whitey's Valley Auto Clinic — 3175 Vermillion St, Hastings, MN 55033
- Ford Service — 3625 Vermillion St, Hastings, MN 55033
- Wayne's Auto Body — 3170 Red Wing Blvd, Hastings, MN 55033
- Hastings Automotive, Inc. — 3625 Vermillion St, Hastings, MN 55033
Frequently Asked Questions
What type of property is this?
Auto shop - Auto building suitable for dealership, body shop, or service.
Where is this auto shop located?
The property is located at 2124 Vermillion St Hastings, MN.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Approved for any type of auto use.; Currently operating as a dealership.; Suitable for body shop or service building.
