Four-Unit Townhome
For Sale
$800,000
39208-39214 Grand Ave, North Branch, MN 55056
Four leased townhomes feature individual garages, private fencing, and off-street parking for residents.
Property Size3,164 SF
Price / SF$252.84
Days on Market10
Property Features for 39208-39214 Grand Ave
General Information
Standard status
Active
Size
3,164 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
4
Amenities
fenced yards
mature trees
usable yard space
Building Details
Year Built
1982
Listing Agency:
Edina Realty, Inc.
Listed By:
Shelby Peltier
(763) 402-2230
Source:
Tayloronken
Added: Sep 16
Changed: Sep 17
Last Checked: Sep 24 at 11:07AM
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 Edina Realty, Inc.
Investment Insights
Based on property information with market context.
This four-unit townhome property includes four rented residences, each with its own garage and fenced outdoor area. The units have practical layouts, natural light, and usable yard space, while off-street parking supports resident convenience. The property was built in 1982.
Located at 39208-39214 Grand Ave in North Branch, MN 55056, the property combines multiple residential units within one asset. Each residence is supported by an individual garage and private fencing, with mature trees contributing to the established setting. Current leases run for one year, and the units have been rented by their occupants for many years.
Located at 39208-39214 Grand Ave in North Branch, MN 55056, the property combines multiple residential units within one asset. Each residence is supported by an individual garage and private fencing, with mature trees contributing to the established setting. Current leases run for one year, and the units have been rented by their occupants for many years.
Key Highlights
- Four rented townhome units in one property
- Each unit includes its own garage
- Individual fencing provides private outdoor areas
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
$46,228
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
5.78%
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%
$924,560
$924.6K
Cap Rate 7%
$660,400
$660.4K
Cap Rate 9%
$513,644
$513.6K
Market Conditions
NOI Build-Up for 3,164 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
$70.2K $22.20/SF
− Vacancy
−$4.2K −$1.33/SF
EGI
$66.0K $20.87/SF
− OpEx
−$19.8K −$6.26/SF
NOI
$46.2K $14.61/SF
Area
Chisago County, MN
Vacancy
5.98%
Lease Rate
$22.20 /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%
$924,560
Cap Rate 7%
$660,400
Cap Rate 9%
$513,644
Alternative Uses
Best Use
Multifamily LT 5
$660.4K
$577.9K – $770.5K
NOI $46,228 @ 7.0% cap · market cap 5.78%
Second Best
Apartment 5plus
$606.6K
$530.8K – $707.7K
NOI $42,460 @ 7.0% cap · market cap 5.31%
Theoretical Best
Office A
$754.9K
$660.5K – $880.7K
NOI $52,841 @ 7.0% cap · market cap 6.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
263
Businesses Nearby
Explore this area
Business Placement
Demographics for 55056, MN
14,245
Population
5,696
Households
2.5
Avg Household Size
38
Median Age
21%
College-Educated
96%
High-School Grad
99.5 sq mi
ZIP Area
143
Density / Sq Mi
$93,601
Median Household Income
$53,911
Median Earnings
$1,190
Median Rent
$297,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four leased townhomes feature individual garages, private fencing, and off-street parking for residents.
Where is this quadplex located?
The property is located at 39208-39214 Grand Ave North Branch, MN.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Four rented townhome units in one property; Each unit includes its own garage; Individual fencing provides private outdoor areas
