Drive-In Office/Retail
225 SE 21st St Grand Rapids, MN 55744
For Sale
Contact for pricing
Building includes an elevator, drive-in door/garage, and lighted parking along the Hwy 169 retail corridor.
Property Size12,620 SF
Price / SF$156.10
Days on Market65
Property Features for 225 SE 21st St
General Information
Standard status
Active
Size
12,620 SF
Property subtype
RETAIL
Listing Agency:
Greg Follmer Commercial Real Estate
(218) 310-0013
Listed By:
Greg Follmer · License #27078
(218) 310-0013
Source:
Moodyscre
Added: May 27
Changed: Jul 28
Last Checked: Jul 29 at 3:38PM
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 Greg Follmer Commercial Real Estate
Investment Insights
Based on property information with market context.
This property offers a flexible commercial building suitable for retail, professional office use, or a combination of both. The building features an elevator, a drive-in door/garage, and lighted parking, supporting a mix of customer and operational needs.
Located at 225 SE 21st St in the Hwy 169 retail corridor, it benefits from retail-oriented positioning within the surrounding commercial area. The on-site improvements are designed to accommodate day-to-day operations, including accessible vertical service via the elevator and convenient delivery or vehicle access through the drive-in door/garage.
As a for-sale offering, this property provides a turnkey physical setup for users seeking a multi-purpose space with the key building amenities already in place.
Located at 225 SE 21st St in the Hwy 169 retail corridor, it benefits from retail-oriented positioning within the surrounding commercial area. The on-site improvements are designed to accommodate day-to-day operations, including accessible vertical service via the elevator and convenient delivery or vehicle access through the drive-in door/garage.
As a for-sale offering, this property provides a turnkey physical setup for users seeking a multi-purpose space with the key building amenities already in place.
Key Highlights
- Building on the Hwy 169 retail corridor with an elevator
- Drive‑in door/garage included for easy access
- Lighted parking on site
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 | $110.6k | $8.76 |
| − Vacancy | −$15.4k | −$1.22 |
| EGI | $95.1k | $7.54 |
| − OpEx | −$28.5k | −$2.26 |
| NOI | $66.6k | $5.28 |
12,620 SF · lease $8.76/SF/yr · vacancy 13.95% · expense 30.00%
Alternative Uses
Best Use
Retail
$951.3K
$832.4K – $1.11M
NOI $66,591 @ 7.0% cap · market cap 3.38%
Second Best
Office B
$809.8K
$708.6K – $944.8K
NOI $56,687 @ 7.0% cap · market cap 2.88%
Theoretical Best
Specialty Retail
$1.22M
$1.06M – $1.42M
NOI $85,167 @ 7.0% cap · market cap 4.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Retail space - Building includes an elevator, drive-in door/garage, and lighted parking along the Hwy 169 retail corridor.
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: Building on the Hwy 169 retail corridor with an elevator; Drive‑in door/garage included for easy access; Lighted parking on site
