Building Details

Year Built 2005

Units 1

Listing Agency: Re/Max Results

Listed By: Diego Correa Bravo Show Phone

Source: Getyoumoved

Added: Oct 22 Changed: Oct 23 Last Checked: Oct 23 at 5:06PM

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Investment Insights

Based on property information with market context.

At 30962 Fenway Avenue, Suite 100, in Stacy, this retail condominium contains approximately 2,387 square feet and was built in 2005. An operating Subway business occupies the space, and the seller—who owns and operates the business—is willing to lease back the suite to a new owner.

The property is zoned Business/Commercial and has access to I-35. The seller is also offering two other commercial properties, identified as PID 06-118-23-340089 and PID 103-042-004170.

Key Highlights

• Operating Subway business; seller is willing to lease back the suite
• Approximately 2,387 square feet of retail space
• Built in 2005

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

Is this asking price fair?

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. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open 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

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

Frequently Asked Questions

What type of property is this?

Retail space - A 2005 retail suite includes an operating Subway business, with the seller open to a leaseback arrangement.

Where is this retail space located?

The property is located at 30962 Fenway Avenue #100 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: Operating Subway business; seller is willing to lease back the suite; Approximately 2,387 square feet of retail space; Built in 2005