Building Details

Building Size 2,387 SF

Year Built 2006

Tenancy Single

Listing Agency: RE/MAX

Listed By: Diego Correa Bravo Show Phone

Source: Remaxcommercial

Added: Oct 7 Last Checked: Oct 9 at 4:12PM

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Investment Insights

Based on property information with market context.

This retail condominium includes Suite 100, with approximately 2,387 square feet of space. A Subway business currently operates in the unit, and the seller is willing to enter into a leaseback arrangement. The building dates to 2006 and is zoned Commercial.

The property is at 30962 Fenway Avenue in Stacy, Minnesota, with access to I-35. The listing also notes parking at the property and access to surrounding communities. The condo may be acquired individually; the seller is also offering two other commercial properties, identified as PID 06-118-23-340089 and PID 103-042-004170.

Key Highlights

• Approximately 2,387 square feet in Suite 100
• Subway business currently operates in the space; seller is willing to provide a leaseback
• Built in 2006

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$29,399

Cap Rate

7.84%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$587,980 $588.0K

Cap Rate 7%

$419,986 $420.0K

Cap Rate 9%

$326,656 $326.7K

Market Conditions

NOI Build-Up for 2,387 SF

Gross rent

$45.3K $18.96/SF

− Vacancy

−$3.3K −$1.37/SF

EGI

$42.0K $17.59/SF

− OpEx

−$12.6K −$5.28/SF

NOI

$29.4K $12.32/SF

Area

Chisago County, MN

Vacancy

7.20%

Lease Rate

$18.96 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$587,980

Cap Rate 7%

$419,986

Cap Rate 9%

$326,656

Alternative Uses

Best Use

Specialty Retail

$504.9K

$441.8K – $589.0K (±1% cap)

NOI $35,340 @ 7.0% cap · market cap 9.42%

Second Best

Retail

$420.0K

$367.5K – $490.0K (±1% cap)

NOI $29,399 @ 7.0% cap · market cap 7.84%

Theoretical Best

Office A

$569.5K

$498.3K – $664.4K (±1% cap)

NOI $39,864 @ 7.0% cap · market cap 10.63%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Stacy Chiropractic Alternative Medicine Practice Subway Take-out & Catering Stacy Wine & Spirits (Bike/Boat/Book/etc) Store Sacred Grounds Tobacco ... (Bike/Boat/Book/etc) Store Stacy Chiropractic - Andrew ... Alternative Medicine Practice

Suggested Use

Top Pick Real Estate Agency Big Box & Wholesale Store Building Supply Auto Parts Store Auto Repair Shop Electrical Service

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

Single-tenant

Tenancy

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

110

Businesses Nearby

57k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Kwik Trip Shops & Services

46,246 visits/mo 0.3 miles

Casey's Shops & Services

10,951 visits/mo 0.5 miles

Demographics for 55079, MN

8,875

Population

3,377

Households

2.6

Avg Household Size

43

Median Age

17%

College-Educated

94%

High-School Grad

63.6 sq mi

ZIP Area

140

Density / Sq Mi

$111,484

Median Household Income

$51,697

Median Earnings

$1,547

Median Rent

$335,400

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

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this retail space located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Retail space - The seller is willing to lease back the space, where a Subway business is currently operating.

Where is this retail space located?

The property is located at 30962 Fenway Avenue Stacy, 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: Approximately 2,387 square feet in Suite 100; Subway business currently operates in the space; seller is willing to provide a leaseback; Built in 2006