Turnkey Salon
For Sale
Contact for pricing
321 Central Ave E, Saint Michael, MN 55376
Operational salon business and building sale includes existing equipment, with parking in downtown St. Michael.
Property Size1,987 SF
Price / SF$301.46
Days on Market287
Property Features for 321 Central Ave E
General Information
Standard status
Active
Size
1,987 SF
Property subtype
RETAIL
Additional Details
Business Included
Yes
Listing Agency:
eXp Realty
(612) 554-4773
Listed By:
Chris Fritch · License #40341531
(763) 746-3996
Source:
Moodyscre
Added: Dec 1, 2025
Changed: Aug 15
Last Checked: Sep 14 at 6:58AM
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 eXp Realty
Investment Insights
Based on property information with market context.
An operational salon business and the associated building are available together as a single purchase. Central Hair Design is described as well established and fully operational, and the sale includes the existing equipment and setup needed to begin operations. The property is sized at 1,987 square feet and is presented as ready for immediate operation.
Located on Central Ave E in downtown St. Michael, the site sits on a commercial corridor surrounded by retail, dining, and community businesses. The property includes parking, with the remarks also noting room for salon operations and potential expansion.
The offering provides flexibility for an owner-operator or investor to continue operating a salon under the existing brand, rebrand, or repurpose part of the building, based on the needs of the next operator.
Located on Central Ave E in downtown St. Michael, the site sits on a commercial corridor surrounded by retail, dining, and community businesses. The property includes parking, with the remarks also noting room for salon operations and potential expansion.
The offering provides flexibility for an owner-operator or investor to continue operating a salon under the existing brand, rebrand, or repurpose part of the building, based on the needs of the next operator.
Key Highlights
- 1,987 SF storefront property
- Includes the operational Central Hair Design salon business and building
- Existing equipment included for immediate operation
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$24,473
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.09%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$489,460
$489.5K
Cap Rate 7%
$349,614
$349.6K
Cap Rate 9%
$271,922
$271.9K
Market Conditions
NOI Build-Up for 1,987 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$37.7K $18.96/SF
− Vacancy
−$2.7K −$1.37/SF
EGI
$35.0K $17.59/SF
− OpEx
−$10.5K −$5.28/SF
NOI
$24.5K $12.32/SF
Area
Wright 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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$489,460
Cap Rate 7%
$349,614
Cap Rate 9%
$271,922
Alternative Uses
Best Use
Retail
$349.6K
$305.9K – $407.9K
NOI $24,473 @ 7.0% cap · market cap 4.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$474.1K
$414.8K – $553.1K
NOI $33,184 @ 7.0% cap · market cap 5.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
225
Businesses Nearby
2k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
Domino's Pizza
Dining
2,046 visits/mo
0.4 miles
Demographics for 55376, MN
17,989
Population
7,128
Households
2.5
Avg Household Size
36
Median Age
44%
College-Educated
98%
High-School Grad
29.2 sq mi
ZIP Area
616
Density / Sq Mi
$130,917
Median Household Income
$62,378
Median Earnings
$2,038
Median Rent
$364,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Storefront property - Operational salon business and building sale includes existing equipment, with parking in downtown St. Michael.
Where is this storefront property located?
The property is located at 321 Central Ave E Saint Michael, MN.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 1,987 SF storefront property; Includes the operational Central Hair Design salon business and building; Existing equipment included for immediate operation
