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    Specialty Property For Sale Title is generated by Realmo AI

    408 Spruce Drive, Staples, MN 56479

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    Specialty commercial property offered for sale with clear roadside access via surrounding local roads off US Hwy 10.

    Type:Land
    Added:
    Jun 1, 2026
    Days on Market:
    6
    Last Refresh:
    Jun 3 at 1:52 am

    Property Features for 408 Spruce Drive

    General Information

    Standard status
    Active
    Property subtype
    Land

    We can help!

    Listing Contact
    Sandy Knosalla

    Listing agent Sandy Knosalla

    Listing office

    Listing date Jun 1, 2026

    Source Evrealestate

    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 Sandy Knosalla

    HighLights

    • Specialty commercial property for sale with clear roadside access via local roads off US Hwy 10
    • Directions: From US Hwy 10 in Staples, turn north on Cardinal Drive, then left on Airport Road, right on Spruce Drive to property on right
    • Located in Wadena County

    Overview

    This for-sale specialty commercial property is presented for an investor or owner-operator looking for a small-format alternative to standard retail or office. The listing provides primary access directions to the site, with a “see sign” note indicating location visibility from the roadway network serving the parcel.

    The property is located off the local road system near US Highway 10 in Staples, Minnesota. Directions are provided from US Hwy 10 in Staples to Cardinal Drive, then to Airport Road, followed by Spruce Drive to the property on the right. The parcel is within Wadena County.

    Given the “specialty” classification and the limited but direct site access described in the remarks, the property may be best suited to uses that don’t rely on a typical big-box or traditional storefront configuration. Buyers and tenants will want to confirm that their intended operations align with the property’s improvements and any applicable site requirements. For parties seeking a straightforward acquisition with known access routing and on-site visibility, this listing offers an uncomplicated starting point for due diligence.
    Location Intelligence

    Current Use by Public Records

    Specialty properties

    Suggested Use

    Kitchen & Bath Showroom Garden Center Electrical Service Daycare Center Plumbing Service Nursing Home Nursing Home

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Staples
    County
    Wadena
    State
    Minnesota
    Longitude
    -94.793596
    Latitude
    46.383577

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    FAQs

    What type of property is this?
    Specialty property - Specialty commercial property offered for sale with clear roadside access via surrounding local roads off US Hwy 10.
    Where is this specialty property located?
    The property is located at 408 Spruce Drive Staples, MN.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Specialty commercial property for sale with clear roadside access via local roads off US Hwy 10; Directions: From US Hwy 10 in Staples, turn north on Cardinal Drive, then left on Airport Road, right on Spruce Drive to property on right; Located in Wadena County
    (218) 296-1111
    We can help!
    Listing Contact
    Sandy Knosalla
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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