Grocery and Convenience Store with Walk-In
For Sale
$600,000
Pending
2700 Maplewood Drive N, Maplewood, MN 55109
A corner-lot commercial property has food-market improvements, updated electrical service, and a flexible interior layout.
Property Size3,000 SF
Days on Market10
Property Features for 2700 Maplewood Drive N
General Information
Standard status
Pending
Size
3,000 SF
Zoning
Business/Commercial
Site & Location
Neighborhood
Gloster
Additional Details
Currently Operating
Yes
Taxes and HOA fees
Annual Taxes
$17,074
Amenities
Natural Gas
No
8-10
3000
Building,Business,Land
Corner Lot
City Water/Connected
0.377
153x93x138x148
Parking Lot
Building Details
Building Size
3,000 SF
Year Built
1969
Listing Agency:
LPT Realty, LLC
(612) 656-1200
Listed By:
Ryan Wedekind
Source:
Imetroproperty
Added: Oct 21
Changed: Oct 28
Last Checked: Oct 28 at 2:41PM
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 LPT Realty, LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 3,000-square-foot commercial building was constructed in 1969 and is currently used for a meat market and liquor store. The liquor store is expected to close before the transaction is completed. Interior features include a 24-by-24-foot walk-in cooler, a separate freezer, a half bath, and a washer and dryer. Electrical service was updated in 2023. The meat market business, equipment, and fixtures may be negotiated separately with the property.
The property occupies a 0.377-acre corner lot at 2700 Maplewood Drive N in Maplewood, Minnesota. It has a storefront entrance, a parking lot, and city water service. Zoning is Business/Commercial.
The property occupies a 0.377-acre corner lot at 2700 Maplewood Drive N in Maplewood, Minnesota. It has a storefront entrance, a parking lot, and city water service. Zoning is Business/Commercial.
Key Highlights
- 3,000‑square‑foot building on a 0.377‑acre corner lot
- 24x24 walk‑in cooler and a separate freezer
- Electrical system updated in 2023
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,288
Cap Rate
6.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$725,760
$725.8K
Cap Rate 7%
$518,400
$518.4K
Cap Rate 9%
$403,200
$403.2K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$54.0K $18.00/SF
− Vacancy
−$2.2K −$0.72/SF
EGI
$51.8K $17.28/SF
− OpEx
−$15.6K −$5.18/SF
NOI
$36.3K $12.10/SF
Area
Ramsey County, MN
Vacancy
4.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$725,760
Cap Rate 7%
$518,400
Cap Rate 9%
$403,200
Alternative Uses
Best Use
Retail
$518.4K
$453.6K – $604.8K
NOI $36,288 @ 7.0% cap · market cap 6.05%
Second Best
Specialty Retail
$378.5K
$331.2K – $441.6K
NOI $26,493 @ 7.0% cap · market cap 4.42%
Theoretical Best
Office A
$715.7K
$626.3K – $835.0K
NOI $50,102 @ 7.0% cap · market cap 8.35%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
355
Businesses Nearby
94k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Costco Gasoline
Shops & Services
70,922 visits/mo
0.5 miles
Maplewood Toyota
Shops & Services
17,616 visits/mo
0.3 miles
CarMax
Shops & Services
2,846 visits/mo
0.4 miles
Tesla Motors
Shops & Services
1,945 visits/mo
0.4 miles
Caliber Collision
Shops & Services
605 visits/mo
0.2 miles
Demographics for 55109, MN
35,381
Population
13,376
Households
2.6
Avg Household Size
38
Median Age
31%
College-Educated
91%
High-School Grad
11.7 sq mi
ZIP Area
3,024
Density / Sq Mi
$81,759
Median Household Income
$44,609
Median Earnings
$1,316
Median Rent
$291,200
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - A corner-lot commercial property has food-market improvements, updated electrical service, and a flexible interior layout.
Where is this grocery and convenience store located?
The property is located at 2700 Maplewood Drive N Maplewood, MN.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 3,000‑square‑foot building on a 0.377‑acre corner lot; 24x24 walk‑in cooler and a separate freezer; Electrical system updated in 2023
