Flex Space with
42242 Highway 47, Isle, MN 56342
For Sale
$239,900
Commercial Sale, Isle, MN
Property Size1,200 SF
Lot Size0.70 Acres
Price / SF$199.92
Days on Market60
Property Features for 42242 Highway 47
General Information
Property type
Property subtype
Zoning description
Parking features
Window features
Patio and Porch features
Fencing
Subdivision
Lot features
High school district
Directions
Standard status
APN
Lot size
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Sewer type
Heating system
Cooling system
Water source
Amenities
half bath
fenced in back lot
parking out front
Building Details
Year built
Building materials
Roof type
Buildings
Listing Agency:
Keller Williams Realty Professionals
Listed By:
Hans Woelfle
(218) 454-4300
Added: Sep 16
Changed: Oct 28
Last Checked: Nov 13 at 11:06PM
MLS# 7145254
Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This flex property occupies a 0.699-acre commercial lot and includes a 30-by-40-foot pole building constructed in 1984. The 1,200-square-foot structure combines office space, a half bath, showroom area, and garage space. Additional features include a fenced back lot, front parking, a deck, metal roofing, forced-air heat, and central air conditioning.
The property is located at 42242 Highway 47, just north of Isle, Minnesota, near Mille Lacs Lake and other surrounding lakes. Private well water and mound septic service the site, while timber/post-and-beam construction provides the building framework. The layout offers a mix of customer-facing, office, storage, and work areas within a compact commercial setting.
The property is located at 42242 Highway 47, just north of Isle, Minnesota, near Mille Lacs Lake and other surrounding lakes. Private well water and mound septic service the site, while timber/post-and-beam construction provides the building framework. The layout offers a mix of customer-facing, office, storage, and work areas within a compact commercial setting.
Key Highlights
- 0.699‑acre lot along Highway 47 just north of Isle, MN
- 30x40 pole barn with 1,200 SF of space
- Office, half bath, showroom, and garage space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,272
Cap Rate
6.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$325,440
$325.4K
Cap Rate 7%
$232,457
$232.5K
Cap Rate 9%
$180,800
$180.8K
Market Conditions
NOI Build-Up for 1,200 SF
Gross rent
$26.4K $21.96/SF
− Vacancy
−$1.3K −$1.10/SF
EGI
$25.0K $20.86/SF
− OpEx
−$8.8K −$7.30/SF
NOI
$16.3K $13.56/SF
Area
Mille Lacs 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 Rate 5%
$325,440
Cap Rate 7%
$232,457
Cap Rate 9%
$180,800
Alternative Uses
Best Use
Flex RnD
$232.5K
$203.4K – $271.2K
NOI $16,272 @ 7.0% cap · market cap 6.78%
Second Best
Retail
$206.5K
$180.7K – $240.9K
NOI $14,452 @ 7.0% cap · market cap 6.02%
Theoretical Best
Office A
$286.3K
$250.5K – $334.0K
NOI $20,041 @ 7.0% cap · market cap 8.35%
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
Lease Details
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
26
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 56342, MN
2,791
Population
2,409
Households
1.2
Avg Household Size
55
Median Age
18%
College-Educated
93%
High-School Grad
193.0 sq mi
ZIP Area
14
Density / Sq Mi
$61,313
Median Household Income
$41,350
Median Earnings
$836
Median Rent
$233,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - Versatile commercial property with an office, half bath, showroom, garage area, fenced rear yard, and front parking.
Where is this flex space located?
The property is located at 42242 Highway 47 Isle, MN.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: 0.699‑acre lot along Highway 47 just north of Isle, MN; 30x40 pole barn with 1,200 SF of space; Office, half bath, showroom, and garage space
