Multi-Entrance Office
516 S Pokegama Avenue Grand Rapids, MN 55744
516 S Pokegama Avenue, Grand Rapids, MN, 55744
$440,000
For Sale
$440,000
Large office building with 15 offices, three conference rooms, and handicap-accessible restrooms across three-sided entrances.
Property Size4,800 SF
Price / SF$91.67
Days on Market24
Property Features for 516 S Pokegama Avenue
General Information
- Standard status
- Active
- Size
- 4,800 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1980
Listing agency
EDGE OF THE WILDERNESS REALTY
(218) 326-3411
Listed by
Jeffrey Dick
Source
Juverealestate
Added: Jun 29 Updated: Jul 21 at 8:28PM Checked: Jul 21 at 8:28PM
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 EDGE OF THE WILDERNESS REALTY
Investment Insights
Based on property information with market context.
This spacious office building offers a flexible interior with 15 offices, three conference rooms, multiple reception areas, and break room areas. The property includes handicap-accessible men’s and women’s bathrooms and an additional third bathroom down the hallway. Entrances to the building are available on three sides, supporting a layout that can accommodate multiple business uses.
The building is located on Hwy 169 S in Grand Rapids, MN, with parking available on all four sides of the property for convenient access.
With the current configuration supporting private office space and shared amenities, the building provides a practical option for an owner-user or for occupancy by multiple businesses in a neutral shared setting.
The building is located on Hwy 169 S in Grand Rapids, MN, with parking available on all four sides of the property for convenient access.
With the current configuration supporting private office space and shared amenities, the building provides a practical option for an owner-user or for occupancy by multiple businesses in a neutral shared setting.
Key Highlights
- 4,800 SF office building on Hwy 169 S in Grand Rapids, MN, built in 1980
- 15 offices with 3 conference rooms plus break room and multiple reception areas
- Handicap‑accessible men’s and women’s bathrooms and a third bathroom down the hallway
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $33.4k | $6.96 |
| − Vacancy | −$4.7k | −$0.97 |
| EGI | $28.7k | $5.99 |
| − OpEx | −$7.2k | −$1.50 |
| NOI | $21.6k | $4.49 |
4,800 SF · lease $6.96/SF/yr · vacancy 13.95% · expense 25.00%
Alternative Uses
Best Use
Office B
$308.0K
$269.5K – $359.4K
NOI $21,561 @ 7.0% cap · market cap 4.90%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$462.8K
$404.9K – $539.9K
NOI $32,393 @ 7.0% cap · market cap 7.36%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Lakeview Behavioral Health
Medical Clinic
Kelly Chandler
Physician
Jared Harnack
Physician
Tammy Word
Physician
Stanislav Kruglikov
Physician
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - Large office building with 15 offices, three conference rooms, and handicap-accessible restrooms across three-sided entrances.
Where is this office building located?
The property is located at 516 S Pokegama Avenue Grand Rapids, MN.
What is the asking price?
The asking price for this property is $440,000.
What are key features of this property?
This property features: 4,800 SF office building on Hwy 169 S in Grand Rapids, MN, built in 1980; 15 offices with 3 conference rooms plus break room and multiple reception areas; Handicap‑accessible men’s and women’s bathrooms and a third bathroom down the hallway
