Building Details

Stories 1

Tenancy Single

Listing Agency: Commercial Realty Solutions LLC Show Phone

Listed By: Joseph W Elam Show Phone

Source: Moodyscre

Added: May 5 Changed: Oct 13 Last Checked: Oct 16 at 8:01AM

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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 Commercial Realty Solutions LLC

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Investment Insights

Based on property information with market context.

This single-tenant storefront property contains 8,000 square feet on one floor and includes 13+ parking spaces. The site also provides more than 1 acre of fenced outdoor storage, extending the property beyond the enclosed retail area.

The property is served by a well and septic system and is located near Costco at 5640 Mackenzie Ave NE in Albertville, Minnesota. Bc zoning supports commercial, retail, and industrial classifications as identified in the property information.

Key Highlights

• 8,000‑square‑foot single‑tenant storefront building
• One‑floor configuration
• 13+ parking spaces

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$98,531

Cap Rate

6.18%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,970,620 $2.0M

Cap Rate 7%

$1,407,586 $1.4M

Cap Rate 9%

$1,094,789 $1.1M

Is this asking price fair?

Market Conditions

NOI Build-Up for 8,000 SF

Gross rent

$151.7K $18.96/SF

− Vacancy

−$10.9K −$1.37/SF

EGI

$140.8K $17.59/SF

− OpEx

−$42.2K −$5.28/SF

NOI

$98.5K $12.32/SF

Area

Wright County, MN

Vacancy

7.20%

Lease Rate

$18.96 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,970,620

Cap Rate 7%

$1,407,586

Cap Rate 9%

$1,094,789

Alternative Uses

Best Use

Retail

$1.41M

$1.23M – $1.64M (±1% cap)

NOI $98,531 @ 7.0% cap · market cap 6.18%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.91M

$1.67M – $2.23M (±1% cap)

NOI $133,604 @ 7.0% cap · market cap 8.38%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Storefront properties

Suggested Use

Top Pick Big Box & Wholesale Store Law Firm Auto Parts Store Spa & Massage Center Restaurant Pharmacy

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Single-tenant

Tenancy

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

55

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 55301, MN

12,791

Population

4,720

Households

2.7

Avg Household Size

33

Median Age

44%

College-Educated

98%

High-School Grad

8.2 sq mi

ZIP Area

1,560

Density / Sq Mi

$131,157

Median Household Income

$65,890

Median Earnings

$1,458

Median Rent

$324,000

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Frequently Asked Questions

What type of property is this?

Storefront property - One-level retail building with fenced outdoor storage, on-site parking, and Bc commercial, retail, and industrial zoning.

Where is this storefront property located?

The property is located at 5640 Mackenzie Ave NE Albertville, MN.

What is the asking price?

The asking price for this property is $1,595,000.

What are key features of this property?

This property features: 8,000‑square‑foot single‑tenant storefront building; One‑floor configuration; 13+ parking spaces