Redeveloped Retail/Automotive Space on
For Sale
Contact for pricing
38450 Tanger Dr, North Branch, MN
21,000 SF redeveloped space ideal for retail or automotive businesses.
Property Size21,040 SF
Lot Size1.25 Acres
Price / SF$148.53
Days on Market397
Property Features for 38450 Tanger Dr
General Information
Standard status
Active
Size
21,040 SF
Lot size
1.25 Acres
Property subtype
RETAIL
Properties For Sale
at 38450 Tanger Dr
Encore @ I-35
AVAILABLE, Now
Floor
1
Size
21,040 SF
Type
RETAIL
Lease Type
NET_NNN
Sublease
No
Re-Cast into a Bright, Clean, 21,000 SF conversion with heavy power and expansive Clear Heights. It’s built to move cars, customers, or kegs. The building has been extensively redeveloped with a modern, bright finish that’s ready As-Is for most sales and service operations—or can be customized as a full build-to-suit for critical medical, retail or entertainment venues. The building has been transformed into a high-performance workplace. The bones you need - Heavy power, High Clear, Drive-in Flexibility - and the Polish you want, all at Interstate Speed. Shared parking easements on adjacent lots help you meet demand as you grow. For Auto Dealerships & Service Centers, Clinics, Retail or Entertainment. Drive In. Build Out. Prime visibility on I-35.
Building Ownership Has Material Ready for 6 (six) more drive-in doors. Pick your script, we’ll set the stage.
Contact us
Listing Agency:
Fort Inc
(619) 977-1785
Listed By:
Jacob Gerads
(651) 895-3217
Source:
Moodyscre
Added: Sep 29, 2025
Changed: Oct 25
Last Checked: Oct 28 at 11:31AM
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 Fort Inc
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The property, located in North Branch, features a 21,040 square foot redeveloped space with heavy power and expansive clear heights. It is suitable for moving cars, customers, or kegs. The building has been extensively redeveloped with a modern, bright finish, ready as-is for most sales and service operations, and can be customized as a full build-to-suit for critical medical, retail, or entertainment venues. The building has been transformed into a high-performance workplace, offering heavy power, high clear heights, and drive-in flexibility. Shared parking easements on adjacent lots support growth. It is suitable for auto dealerships and service centers, clinics, retail, or entertainment businesses. The building ownership has material ready for six more drive-in doors.
Key Highlights
- Heavy power, high clear heights, and drive‑in flexibility suitable for various businesses.
- Redeveloped 21,000 SF building with modern, bright finish, ready for sales and service operations.
- Located on I‑35, offering high visibility and accessibility.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$259,137
Cap Rate
8.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,182,740
$5.2M
Cap Rate 7%
$3,701,957
$3.7M
Cap Rate 9%
$2,879,300
$2.9M
Market Conditions
NOI Build-Up for 21,040 SF
Gross rent
$398.9K $18.96/SF
− Vacancy
−$28.7K −$1.37/SF
EGI
$370.2K $17.59/SF
− OpEx
−$111.1K −$5.28/SF
NOI
$259.1K $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%
$5,182,740
Cap Rate 7%
$3,701,957
Cap Rate 9%
$2,879,300
Alternative Uses
Best Use
Retail
$3.70M
$3.24M – $4.32M
NOI $259,137 @ 7.0% cap · market cap 8.29%
Second Best
Industrial
$3.27M
$2.86M – $3.81M
NOI $228,573 @ 7.0% cap · market cap 7.31%
Theoretical Best
Office A
$5.02M
$4.39M – $5.86M
NOI $351,379 @ 7.0% cap · market cap 11.24%
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
Location Intelligence
Trade Area within ½ mile
395
Businesses Nearby
191k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 55%
Shops & Services 35%
Apparel 5%
Electronics 1%
Kwik Trip
Shops & Services
39,606 visits/mo
0.3 miles
McDonald's
Dining
25,437 visits/mo
0.4 miles
Holiday Station Store
Shops & Services
16,262 visits/mo
0.4 miles
Starbucks
Dining
14,366 visits/mo
0.4 miles
Caribou Coffee
Dining
12,000 visits/mo
0.5 miles
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
Frequently Asked Questions
What type of property is this?
Showroom - 21,000 SF redeveloped space ideal for retail or automotive businesses.
Where is this showroom located?
The property is located at 38450 Tanger Dr North Branch, MN.
What is the asking price?
The asking price for this property is $3,125,000.
What are key features of this property?
This property features: Heavy power, high clear heights, and drive‑in flexibility suitable for various businesses.; Redeveloped 21,000 SF building with modern, bright finish, ready for sales and service operations.; Located on I‑35, offering high visibility and accessibility.
