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    28428 Us Highway 10 Detroit Lakes, MN 56501

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    For Sale
    Contact for pricing

    4,000+ sqft shop on 2 acres with highway frontage.

    Property size:
    4,080 SF
    Lot size:
    2.00 Acres

    Property Features for 28428 Us Highway 10

    General Information

    Standard status
    Active
    Zoning
    Commercial
    Size
    4,080 SF
    Lot size
    2.00 Acres

    Building Details

    Year built
    2002

    We can help!

    Listing Contact
    Christopher Nord
    Christopher Nord
    Source: Crexi

    Listing Agency: The Real Estate Company Detroit Lakes Listing Agent: Christopher Nord

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Highway 10 Shop with Acreage

    Located in Detroit Lakes, MN, this property offers an opportunity to start or expand a business. It features 175 feet of frontage on Highway 10, and includes 2 acres of land. The property includes a shop building with over 4,000 square feet of space. The shop is finished and heated, and includes office space and a bathroom. The building features 16-foot sidewalls. There is room to expand on the back half of the property if more acreage is needed. This is a real estate sale only.
    Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Restaurant Building Supply Dental Office Big Box & Wholesale Store Auto Repair Shop Auto Parts Store Kitchen & Bath Showroom Storage Facility HVAC Service Electronics & Wireless Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Detroit Lakes
    County
    Becker
    State
    Minnesota
    Longitude
    -95.798694
    Latitude
    46.78294

    Nearby Similar for Sale

    • $225,000
      2,016 SF

      Storage Unit in Prime Location

      42' x 48' storage unit with exclusive amenities.
      25174 County Highway 6, Detroit Lakes, MN 56501
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - 4,000+ sqft shop on 2 acres with highway frontage.
    Where is this mixed-use property located?
    The property is located at 28428 Us Highway 10 Detroit Lakes, MN.
    What are key features of this property?
    This property features: - Prime location with **175 feet of frontage on Highway 10**.; - **4,000+ square foot shop with 16' sidewalls.**; - Includes 2 acres of land.
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    28428 Us Highway 10 Detroit Lakes, MN 56501
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    Detroit Lakes, MN 56501
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    28428 Us Highway 10 Detroit Lakes, MN 56501
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    We can help!
    Listing Contact
    Christopher Nord
    Christopher Nord
    Real Estate License ID: 40429556ND10196
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