Add Listing
    For Sale
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    510 1/2 3rd Street N Waite Park, MN 56387

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Commercial - Waite Park, MN

    Property size:
    743 SF
    Lot size:
    0.22 Acres
    Price / SF:
    $0.77/SF
    Added:
    Feb 13, 2026
    Days on Market:
    78
    Last Refresh:
    May 2 at 7:06 pm

    Property Features for 510 1/2 3rd Street N

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Business/Commercial
    Parking features
    Driveway, Paved or Surfaced
    Exterior features
    Block, Brick/Stone, Stucco
    Standard status
    Active
    APN
    TBD
    Size
    743 SF
    Lot size
    0.22 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    8574

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1922
    Roof type
    Flat
    Architectural style
    Other

    We can help!

    Listing Contact
    Todd Barnett

    Listing agent Todd Barnett

    Listing office Weichert,Realtors-Tower Properties 17122 State Hwy 371, Brainerd, MN

    Listing date Feb 13, 2026

    MLS# 7021154 Listing URL

    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.

    Overview

    Waite Park Commercial Opportunity

    This commercial unit, located on one of the busiest roads in Waite Park, Minnesota, presents an excellent opportunity for business ventures. Situated near Crossroads Mall, the property offers a single-level layout encompassing 743 square feet. The unit features one entry door, a conference room, a built-in desk, a gas fireplace, and central air conditioning. An additional 287 square feet are available. The property is zoned for business and commercial use and sits on a lot of approximately 0.22 acres in Stearns County.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Real Estate Agency Law Firm Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Waite Park
    County
    Stearns
    State
    Minnesota
    Longitude
    -94.223034
    Latitude
    45.547992

    Nearby Similar for Sale

    • $350,000

      Waite Park Self-Storage Investment

      Self-storage facility with income and value-add potential.
      3055 3rd Street S, Waite Park, MN 56387
      View Details
    • $250,000

      Established Lawn Care Business Opportunity

      Turn-key lawn care business with existing contracts in Central Minnesota.
      24 Division Street, Waite Park, MN 56387
      View Details
    • $12
      3,205 SF

      Waite Park Office Suites

      High visibility office suites available for lease in Waite Park.
      50 10th S Avenue, Waite Park, MN 56387
      View Details
    • $550
      743 SF

      Waite Park Office Unit

      743 SF office unit on a busy road.
      510 1/2 3rd N Street, Waite Park, MN 56387
      View Details
    • $1,125,000
      21,809 SF

      Waite Park Investment Opportunity

      Investment opportunity in Waite Park business district with excellent access.
      401 Sundial Dr, Waite Park, MN 56377
      View Details
    • $30,000,000
      275,000 SF

      Cold Storage Facility For Sale

      275,000 SF cold storage facility with highway access.
      511 28th S, Waite Park, MN
      View Details
    • $1,500,000
      5,743 SF

      Former Gas Station with Carwash

      Redevelopment opportunity with high traffic and strong demographics.
      1435 Division St, Waite Park, MN
      View Details

    FAQs

    What type of property is this?
    Office units - Commercial unit on a busy road in Waite Park.
    Where is this office units located?
    The property is located at 510 1/2 3rd Street N Waite Park, 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: High‑traffic location on a busy road in Waite Park, near Cross Roads Mall; 743 sq ft unit all on one level; Central air conditioning
    (218) 825-7787
    We can help!
    Listing Contact
    Todd Barnett
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry

    510 1/2 3rd Street N, Waite Park, MN 56387

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!