Mixed-Use Commercial Building For
For Sale
Contact for pricing
414 Pine St, Monticello, MN 55362
Versatile space with warehouse, flex, retail, and cold storage.
Property Size10,200 SF
Price / SF$205.88
Days on Market98
Property Features for 414 Pine St
General Information
Standard status
Active
Size
10,200 SF
Property subtype
INDUSTRIAL
Lease Type
NNN
Properties For Sale
at 414 Pine St Contact us- Floor
- 1
- Size
- 10,200 SF
- Type
- INDUSTRIAL
- Lease Type
- NNN
- Availability
- AVAILABLE, Now
- Sublease
- No
Industrial/Retail/Office for Lease
Versatile commercial building with a mix of warehouse, flex, retail/showroom, and...
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Listing Agency:
RIC Property Management Inc
(651) 497-7222
Listed By:
Nik Anderson
(651) 497-7222
Source:
Moodyscre
Added: May 27
Changed: Aug 24
Last Checked: Aug 31 at 12:17AM
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 RIC Property Management Inc
Investment Insights
Based on property information with market context.
This commercial building offers a mix of warehouse, flex, retail/showroom, and cold storage space, totaling 10200 square feet. The property is suitable for industrial users while also maintaining retail/showroom potential. The landlord is open to a variety of users and is flexible on layout depending on tenant needs. The property is located at 414 Pine St, Monticello, MN 55362.
Key Highlights
- Versatile commercial building suitable for warehouse, flex, retail/showroom, and cold storage.
- Strong functionality for industrial users with retail/showroom potential.
- Ideal for marketing as both industrial and retail space.
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
$138,315
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
6.59%
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%
$2,766,300
$2.8M
Cap Rate 7%
$1,975,929
$2.0M
Cap Rate 9%
$1,536,833
$1.5M
Market Conditions
NOI Build-Up for 10,200 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
$224.0K $21.96/SF
− Vacancy
−$11.2K −$1.10/SF
EGI
$212.8K $20.86/SF
− OpEx
−$74.5K −$7.30/SF
NOI
$138.3K $13.56/SF
Area
Wright County, MN
Vacancy
5.00%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
35.00%
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%
$2,766,300
Cap Rate 7%
$1,975,929
Cap Rate 9%
$1,536,833
Alternative Uses
Best Use
Flex RnD
$1.98M
$1.73M – $2.31M
NOI $138,315 @ 7.0% cap · market cap 6.59%
Second Best
Industrial
$1.58M
$1.39M – $1.85M
NOI $110,810 @ 7.0% cap · market cap 5.28%
Theoretical Best
Office A
$2.43M
$2.13M – $2.84M
NOI $170,346 @ 7.0% cap · market cap 8.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
698
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 55362, MN
20,476
Population
7,589
Households
2.7
Avg Household Size
36
Median Age
26%
College-Educated
91%
High-School Grad
65.3 sq mi
ZIP Area
314
Density / Sq Mi
$92,870
Median Household Income
$48,029
Median Earnings
$1,458
Median Rent
$324,400
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Versatile space with warehouse, flex, retail, and cold storage.
Where is this flex space located?
The property is located at 414 Pine St Monticello, MN.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Versatile commercial building suitable for warehouse, flex, retail/showroom, and cold storage.; Strong functionality for industrial users with retail/showroom potential.; Ideal for marketing as both industrial and retail space.
