Retail-Office Building with
225 SE 21ST ST Grand Rapids, MN 55744
For Sale
Contact for pricing
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 Market58
Property Features for 225 SE 21ST ST
General Information
- Standard status
- Active
- Size
- 13,120 SF
- Property subtype
- Retail, Office, Special Purpose
Building Details
- Year Built
- 2001
Listing Agency:
Follmer Commercial Real Estate
(218) 310-0013
Listed By:
Greg Follmer · License #MN 27078
Source:
Crexi
Added: May 27
Changed: Jul 10
Last Checked: Jul 22 at 9:33AM
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
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 For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $114.9k | $8.76 |
| − Vacancy | −$16.0k | −$1.22 |
| EGI | $98.9k | $7.54 |
| − OpEx | −$29.7k | −$2.26 |
| NOI | $69.2k | $5.28 |
13,120 SF · lease $8.76/SF/yr · vacancy 13.95% · expense 30.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Red Willow
Home Decor Store
FAQs
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
