Prime Corner Location with
For Sale
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7 E Minnesota St, Saint Joseph, MN 56374
Highly visible corner location in downtown Saint Joseph, Minnesota.
Property Size4,350 SF
Price / SF$298.85
Days on Market176
Property Features for 7 E Minnesota St
General Information
Standard status
Active
Size
4,350 SF
Class
B
Property subtype
Retail, Hospitality
Zoning
Commercial CIC PUD
Investment Type
Owner/User
Building Details
Year Built
2008
Year Renovated
2012
Stories
1
Tenancy
Single
Listing Agency:
Collegeville Brokerage
Listed By:
Jon Petters · License #MN 40134752. Broker
Source:
Crexi
Added: Feb 16
Changed: Aug 7
Last Checked: Aug 11 at 6:45AM
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 Collegeville Brokerage
Investment Insights
Based on property information with market context.
Located in downtown Saint Joseph, Minnesota, this property features a highly visible corner location. The building includes residential lofts on the second floor. Currently operating as a pasta and steak restaurant, the property benefits from outdoor seating and a patio. The owner intends to retire at the end of 2026. The property size is 4350 square feet.
Key Highlights
- Prime corner location in downtown Saint Joseph with high visibility and outdoor seating.
- Established, successful pasta and steak restaurant business.
- Located in a destination location within a college town.
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
$60,281
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
4.64%
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%
$1,205,620
$1.2M
Cap Rate 7%
$861,157
$861.2K
Cap Rate 9%
$669,789
$669.8K
Market Conditions
NOI Build-Up for 4,350 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
$87.2K $20.04/SF
− Vacancy
−$6.8K −$1.56/SF
EGI
$80.4K $18.48/SF
− OpEx
−$20.1K −$4.62/SF
NOI
$60.3K $13.86/SF
Area
Stearns County, MN
Vacancy
7.80%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
25.00%
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%
$1,205,620
Cap Rate 7%
$861,157
Cap Rate 9%
$669,789
Alternative Uses
Best Use
Specialty Retail
$861.2K
$753.5K – $1.00M
NOI $60,281 @ 7.0% cap · market cap 4.64%
Second Best
Retail
$833.4K
$729.2K – $972.3K
NOI $58,337 @ 7.0% cap · market cap 4.49%
Theoretical Best
Office A
$952.4K
$833.4K – $1.11M
NOI $66,671 @ 7.0% cap · market cap 5.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
310
Businesses Nearby
61k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 83%
Dining 13%
Home Improvements & Furnishings 5%
Kwik Trip
Shops & Services
32,444 visits/mo
0.2 miles
Holiday Station Store
Shops & Services
9,628 visits/mo
0.2 miles
Dollar General
Shops & Services
8,355 visits/mo
0.5 miles
Taco John's
Dining
5,084 visits/mo
0.2 miles
Lee's Ace Hardware
Home Improvements & Furnishings
3,050 visits/mo
0.2 miles
Demographics for 56374, MN
9,943
Population
3,662
Households
2.7
Avg Household Size
33
Median Age
31%
College-Educated
91%
High-School Grad
66.4 sq mi
ZIP Area
150
Density / Sq Mi
$78,415
Median Household Income
$36,851
Median Earnings
$1,134
Median Rent
$281,300
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Daisy A Day Floral & Gift — 307 College Ave N, St Joseph, MN 56374
- All Occasion Floral and Gifts — 38 E Birch St, St Joseph, MN 56374
Frequently Asked Questions
What type of property is this?
Storefront property - Highly visible corner location in downtown Saint Joseph, Minnesota.
Where is this storefront property located?
The property is located at 7 E Minnesota St Saint Joseph, MN.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Prime corner location in downtown Saint Joseph with high visibility and outdoor seating.; Established, successful pasta and steak restaurant business.; Located in a destination location within a college town.
