Building Details

Year built 1960

Listing Agency: RE/MAX Synergy · RE/MAX International m***@remaxsynergy.net

Listed By: Christopher L. Hoyt, Gri Show Phone

Added: Nov 2 Last Checked: Nov 3 at 12:06AM

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MLS# 7149948

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.

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Investment Insights

Based on property information with market context.

Built in 1960, this office building contains three units and offers nearly 2,100 square feet of space. Baseboard heating serves the building, and a parking lot provides on-site parking.

The property occupies a 0.234-acre lot at 719 W Broadway Avenue in Forest Lake, Minnesota. Broadway Avenue carries more than 13,000 vehicles daily.

Key Highlights

• Three office units within nearly 2,100 square feet
• 0.234‑acre lot at 719 W Broadway Avenue in Forest Lake
• More than 13,000 vehicles pass daily on Broadway Avenue

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$29,130

Cap Rate

7.28%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$582,600 $582.6K

Cap Rate 7%

$416,143 $416.1K

Cap Rate 9%

$323,667 $323.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,100 SF

Gross rent

$52.4K $24.96/SF

− Vacancy

−$13.6K −$6.46/SF

EGI

$38.8K $18.50/SF

− OpEx

−$9.7K −$4.62/SF

NOI

$29.1K $13.87/SF

Area

Washington County, MN

Vacancy

25.90%

Lease Rate

$24.96 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$582,600

Cap Rate 7%

$416,143

Cap Rate 9%

$323,667

Alternative Uses

Best Use

Office B

$416.1K

$364.1K – $485.5K (±1% cap)

NOI $29,130 @ 7.0% cap · market cap 7.28%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$583.3K

$510.4K – $680.5K (±1% cap)

NOI $40,832 @ 7.0% cap · market cap 10.21%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Office buildings

Suggested Use

Top Pick Parking Lot & Garage Grocery & Convenience Store Garden Center (Bike/Boat/Book/etc) Store Butcher Florist

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

3

Office units

Location Intelligence

Trade Area within ½ mile

928

Businesses Nearby

Explore this area Business Placement

Demographics for 55025, MN

25,784

Population

10,522

Households

2.5

Avg Household Size

40

Median Age

36%

College-Educated

94%

High-School Grad

77.1 sq mi

ZIP Area

334

Density / Sq Mi

$95,993

Median Household Income

$51,041

Median Earnings

$1,355

Median Rent

$385,800

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

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Frequently Asked Questions

What type of property is this?

Office building - The property includes baseboard heating and a dedicated parking lot.

Where is this office building located?

The property is located at 719 W Broadway Avenue Forest Lake, MN.

What is the asking price?

The asking price for this property is $400,000.

What are key features of this property?

This property features: Three office units within nearly 2,100 square feet; 0.234‑acre lot at 719 W Broadway Avenue in Forest Lake; More than 13,000 vehicles pass daily on Broadway Avenue