Retail-Office Building with
For Sale
Contact for pricing
225 SE 21ST ST, Grand Rapids, MN 55744
For-sale building on the Hwy 169 retail corridor with elevator access, drive-in door/garage, and lighted parking.
Property Size13,120 SF
Price / SF$150.15
Days on Market155
Property Features for 225 SE 21ST ST
General Information
Standard status
Active
Size
13,120 SF
Property subtype
Retail, Office, Special Purpose
Additional Details
Highway Access
Yes
Drive-In Doors
1
Building Details
Year Built
2001
Buildings
1
Units
1
Listing Agency:
Follmer Commercial Real Estate
Listed By:
Greg Follmer · License #MN 27078
(218) 310-0013
Source:
Crexi
Added: May 27
Changed: Oct 26
Last Checked: Oct 26 at 3:14PM
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 Follmer Commercial Real Estate
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This for-sale commercial building is designed to support flexible retail and professional use. The property includes an elevator and a drive-in door/garage, along with lighted parking for tenant and customer convenience. The building is presented in strong condition, with features aimed at accommodating both storefront activity and interior office operations.
Situated along the Hwy 169 retail corridor, the location is positioned to benefit from established retail surroundings and roadway visibility. The combination of a storefront-type setting and on-site access features can support a range of day-to-day business needs, including deliveries and back-of-house movement through the drive-in opening.
For tenants, buyers, or operators looking for a single property that can function as either retail space, office space, or a combination of both, this building offers practical physical attributes for that mix. The elevator supports interior accessibility, while the drive-in door/garage and lighted parking help streamline customer and employee arrivals and service access. This makes the property worth consideration for users seeking an adaptable layout in a corridor retail setting.
Situated along the Hwy 169 retail corridor, the location is positioned to benefit from established retail surroundings and roadway visibility. The combination of a storefront-type setting and on-site access features can support a range of day-to-day business needs, including deliveries and back-of-house movement through the drive-in opening.
For tenants, buyers, or operators looking for a single property that can function as either retail space, office space, or a combination of both, this building offers practical physical attributes for that mix. The elevator supports interior accessibility, while the drive-in door/garage and lighted parking help streamline customer and employee arrivals and service access. This makes the property worth consideration for users seeking an adaptable layout in a corridor retail setting.
Key Highlights
- Year built: 2001
- For‑sale building on the Hwy 169 retail corridor
- Elevator access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$69,229
Cap Rate
3.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,384,580
$1.4M
Cap Rate 7%
$988,986
$989.0K
Cap Rate 9%
$769,211
$769.2K
Market Conditions
NOI Build-Up for 13,120 SF
Gross rent
$114.9K $8.76/SF
− Vacancy
−$16.0K −$1.22/SF
EGI
$98.9K $7.54/SF
− OpEx
−$29.7K −$2.26/SF
NOI
$69.2K $5.28/SF
Area
Itasca County, MN
Vacancy
13.95%
Lease Rate
$8.76 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,384,580
Cap Rate 7%
$988,986
Cap Rate 9%
$769,211
Alternative Uses
Best Use
Retail
$989.0K
$865.4K – $1.15M
NOI $69,229 @ 7.0% cap · market cap 3.51%
Second Best
Office B
$841.9K
$736.7K – $982.2K
NOI $58,933 @ 7.0% cap · market cap 2.99%
Theoretical Best
Specialty Retail
$1.26M
$1.11M – $1.48M
NOI $88,541 @ 7.0% cap · market cap 4.49%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
358
Businesses Nearby
Explore this area
Business Placement
Demographics for 55744, MN
20,096
Population
9,733
Households
2.1
Avg Household Size
45
Median Age
30%
College-Educated
95%
High-School Grad
239.4 sq mi
ZIP Area
84
Density / Sq Mi
$68,213
Median Household Income
$39,232
Median Earnings
$1,014
Median Rent
$232,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Retail space - For-sale building on the Hwy 169 retail corridor with elevator access, drive-in door/garage, and lighted parking.
Where is this retail space located?
The property is located at 225 SE 21ST ST Grand Rapids, MN.
What is the asking price?
The asking price for this property is $1,970,000.
What are key features of this property?
This property features: Year built: 2001; For‑sale building on the Hwy 169 retail corridor; Elevator access
