Divisible Retail
For Sale
$289,900
715 Charles Street, Brainerd, MN 56401
Business/commercial zoning and a layout that may accommodate two separate businesses.
Property Size2,412 SF
Days on Market124
Property Features for 715 Charles Street
General Information
Standard status
Active
Size
2,412 SF
Property subtype
Commercial
Zoning
Business/Commercial
Taxes and HOA fees
Annual Taxes
$2,274
Building Details
Building Size
2,412 SF
Year Built
1990
Stories
1
Units
2
Listing Agency:
LPT Realty, LLC.
(218) 838-1534
Listed By:
Paul Heinlen
(218) 838-1534
Source:
Ivyrealestategroup
Added: Apr 8
Changed: Aug 7
Last Checked: Aug 8 at 11:29AM
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 LPT Realty, LLC.
Investment Insights
Based on property information with market context.
This retail space at 715 Charles Street in Brainerd, Minnesota, was built in 1990 and is identified for business/commercial use. The layout may be divided for two separate businesses, providing flexibility within the existing building configuration.
Key Highlights
- May be divided for two separate businesses
- Business/commercial zoning
- Built in 1990
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
$22,368
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
7.72%
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%
$447,360
$447.4K
Cap Rate 7%
$319,543
$319.5K
Cap Rate 9%
$248,533
$248.5K
Market Conditions
NOI Build-Up for 2,412 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
$34.7K $14.40/SF
− Vacancy
−$2.8K −$1.15/SF
EGI
$32.0K $13.25/SF
− OpEx
−$9.6K −$3.97/SF
NOI
$22.4K $9.27/SF
Area
Crow Wing County, MN
Vacancy
8.00%
Lease Rate
$14.40 /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%
$447,360
Cap Rate 7%
$319,543
Cap Rate 9%
$248,533
Alternative Uses
Best Use
Retail
$319.5K
$279.6K – $372.8K
NOI $22,368 @ 7.0% cap · market cap 7.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$512.1K
$448.1K – $597.4K
NOI $35,844 @ 7.0% cap · market cap 12.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
590
Businesses Nearby
175k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 49%
Shops & Services 30%
Home Improvements & Furnishings 12%
Apparel 9%
McDonald's
Dining
35,203 visits/mo
0.0 miles
Casey's
Shops & Services
19,160 visits/mo
0.4 miles
Dunham's Sports
Apparel
15,706 visits/mo
0.4 miles
Dollar Tree
Shops & Services
15,616 visits/mo
0.4 miles
Harbor Freight Tools
Home Improvements & Furnishings
15,017 visits/mo
0.4 miles
Demographics for 56401, MN
30,632
Population
16,038
Households
1.9
Avg Household Size
40
Median Age
24%
College-Educated
94%
High-School Grad
322.6 sq mi
ZIP Area
95
Density / Sq Mi
$70,269
Median Household Income
$40,172
Median Earnings
$918
Median Rent
$237,900
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Business/commercial zoning and a layout that may accommodate two separate businesses.
Where is this retail space located?
The property is located at 715 Charles Street Brainerd, MN.
What is the asking price?
The asking price for this property is $289,900.
What are key features of this property?
This property features: May be divided for two separate businesses; Business/commercial zoning; Built in 1990
