24228 State Highway 210, Deerwood, MN 56444

Building Details

Year Built 2006 More

Buildings 1 More

Listing Agency: Close-Converse Commercial Prop

Listed By: Chris Close · License #20286846 Show Phone

Source: Vibemn

Added: Sep 9 Changed: Oct 26 Last Checked: Oct 7 at 4:48PM

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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 Prop

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This operating mini golf property includes a retail building, a substantial parking area, and outdoor space used for displays and activities. The sale includes the existing mini golf equipment, water wars attraction, human foosball setup, and a frozen yogurt counter.

Built in 2006, the property is located at 24228 State Highway 210 in Deerwood, Minnesota. The existing configuration supports continued use as a golf and recreation destination, with a retail component and multiple outdoor attractions already in place.

Key Highlights

• Operating mini golf property with retail building
• Mini golf equipment included in the sale
• Water wars and human foosball attractions

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$11,165

Cap Rate

2.98%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$223,300 $223.3K

Cap Rate 7%

$159,500 $159.5K

Cap Rate 9%

$124,056 $124.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,204 SF

Gross rent

$17.3K $14.40/SF

− Vacancy

−$1.4K −$1.15/SF

EGI

$16.0K $13.25/SF

− OpEx

−$4.8K −$3.97/SF

NOI

$11.2K $9.27/SF

Area

Crow Wing County, MN

Vacancy

8.00%

Lease Rate

$14.40 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$223,300

Cap Rate 7%

$159,500

Cap Rate 9%

$124,056

Alternative Uses

Best Use

Retail

$159.5K

$139.6K – $186.1K (±1% cap)

NOI $11,165 @ 7.0% cap · market cap 2.98%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$255.6K

$223.7K – $298.2K (±1% cap)

NOI $17,892 @ 7.0% cap · market cap 4.77%

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

Golf courses & driving ...

Suggested Use

Top Pick Parking Lot & Garage Building Supply Auto Repair Shop Storage Facility Bakery Furniture & Home Goods

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

100

Businesses Nearby

Explore this area Business Placement

Demographics for 56444, MN

3,044

Population

2,579

Households

1.2

Avg Household Size

54

Median Age

38%

College-Educated

95%

High-School Grad

51.7 sq mi

ZIP Area

59

Density / Sq Mi

$74,265

Median Household Income

$42,802

Median Earnings

$850

Median Rent

$318,500

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Frequently Asked Questions

What type of property is this?

Golf course & driving range - Operating recreation property includes outdoor attractions and a frozen yogurt counter.

Where is this golf course & driving range located?

The property is located at 24228 State Highway 210 Deerwood, MN.

What is the asking price?

The asking price for this property is $375,000.

What are key features of this property?

This property features: Operating mini golf property with retail building; Mini golf equipment included in the sale; Water wars and human foosball attractions