Auto Shop with Four Drive-In
For Sale
$650,000
Pending
7105 Highway 10 NW, Ramsey, MN 55303
Commercial Sale, Ramsey, MN
Property Size2,586 SF
Lot Size0.50 Acres
Days on Market204
Property Features for 7105 Highway 10 NW
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Business/Commercial
Parking features
Parking Lot
Subdivision
Auditors Sub 31
High school district
Anoka-Hennepin
Directions
From highway 10, take Ramsey Blvd exit, turn right onto the round about, property is on the left.
Standard status
Pending
APN
343225220001
Lot size
0.50 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
8285
Utilities
Heating system
Forced Air
Amenities
lobby
sales office
mezzanine break room
new paint
new flooring
new heaters
new fluid station
updated bathroom
building repainting
parking lot repairs
asphalt
striping
Building Details
Year built
1997
Roof type
Shingle
Listing Agency:
Keller Williams Classic Rlty NW · Keller Williams Realty
(763) 463-7500
Listed By:
Amber Lange · License #40077597
(763) 657-4444
Added: Mar 16
Changed: Oct 1
Last Checked: Oct 5 at 10:06AM
MLS# 7038441
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.
Investment Insights
Based on property information with market context.
Built in 1997, this 2,586 SF auto shop sits on a 0.5-acre lot and has four drive-in doors with 15-foot clear height. The service area includes a two-bay section with two 12-foot overhead doors, plus separate service and dealership bays with 14-foot and 10-foot doors. A lobby, sales office, and mezzanine break room round out the layout. The service and sales areas can operate separately or as one business. Interior work in 2023 included paint, flooring, heaters, a fluid station, and an updated bathroom; exterior work included repainting and asphalt and striping repairs in the parking lot.
The property fronts Highway 10 and is also accessible by a service road. The lot accommodates approximately 35–40 cars, with city approval for 25–27 vehicles for sales.
The property fronts Highway 10 and is also accessible by a service road. The lot accommodates approximately 35–40 cars, with city approval for 25–27 vehicles for sales.
Key Highlights
- 2,586 SF auto facility on a 0.5‑acre lot
- Four drive‑in doors; 15‑foot clear height
- Two‑bay area has two 12‑foot overhead doors, plus 14‑foot and 10‑foot doors for separate bays
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
$43,997
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
6.77%
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%
$879,940
$879.9K
Cap Rate 7%
$628,529
$628.5K
Cap Rate 9%
$488,856
$488.9K
Market Conditions
NOI Build-Up for 2,586 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
$80.7K $31.20/SF
− Vacancy
−$17.8K −$6.90/SF
EGI
$62.9K $24.30/SF
− OpEx
−$18.9K −$7.29/SF
NOI
$44.0K $17.01/SF
Area
Anoka County, MN
Vacancy
22.10%
Lease Rate
$31.20 /SF/Yr
Expense Ratio
30.00%
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%
$879,940
Cap Rate 7%
$628,529
Cap Rate 9%
$488,856
Alternative Uses
Best Use
Retail
$628.5K
$550.0K – $733.3K
NOI $43,997 @ 7.0% cap · market cap 6.77%
Second Best
Industrial
$401.3K
$351.2K – $468.2K
NOI $28,094 @ 7.0% cap · market cap 4.32%
Theoretical Best
Office A
$718.3K
$628.5K – $838.0K
NOI $50,282 @ 7.0% cap · market cap 7.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Service bays
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
283
Businesses Nearby
36k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 98%
Home Improvements & Furnishings 2%
Holiday Station Store
Shops & Services
19,137 visits/mo
0.1 miles
Ramsey #2
Shops & Services
12,479 visits/mo
0.4 miles
O'Reilly Auto Parts
Shops & Services
3,235 visits/mo
0.5 miles
Heartland Tire
Shops & Services
870 visits/mo
0.1 miles
Slumberland Furniture
Home Improvements & Furnishings
688 visits/mo
0.4 miles
Demographics for 55303, MN
51,480
Population
20,317
Households
2.5
Avg Household Size
38
Median Age
31%
College-Educated
96%
High-School Grad
64.4 sq mi
ZIP Area
799
Density / Sq Mi
$101,351
Median Household Income
$54,788
Median Earnings
$1,348
Median Rent
$338,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Auto shop - B-2-zoned space brings automotive service and dealership functions together in one facility.
Where is this auto shop located?
The property is located at 7105 Highway 10 NW Ramsey, MN.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 2,586 SF auto facility on a 0.5‑acre lot; Four drive‑in doors; 15‑foot clear height; Two‑bay area has two 12‑foot overhead doors, plus 14‑foot and 10‑foot doors for separate bays
