Storefront with Finished
721 E River Road, Anoka, MN 55303
For Sale
$329,900
A detached garage and half-acre commercial parcel accompany the finished lower level.
Property Size1,614 SF
Lot Size0.50 Acres
Price / SF$204.40
Days on Market53
Property Features for 721 E River Road
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Taxes and HOA fees
Annual Taxes
Amenities
finished basement
detached garage
Building Details
Building Size
Year Built
Buildings
Stories
Units
Listing Agency:
Pemberton RE
(612) 260-8777
Listed By:
Steven D Leth
(952) 484-7785
Source:
Driveresultsrealty
Added: Sep 18
Changed: Nov 7
Last Checked: Nov 8 at 12:09PM
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 Pemberton RE
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The storefront includes a finished basement and a detached garage. Its prior use was as a beauty shop, and the property information identifies office, studio, retail, and community resource center uses among possible commercial applications.
Located on E River Road in Anoka, the property is near Downtown Anoka. Four bus stops are within approximately 400 feet, with access by vehicle and public transportation.
Located on E River Road in Anoka, the property is near Downtown Anoka. Four bus stops are within approximately 400 feet, with access by vehicle and public transportation.
Key Highlights
- Half‑acre commercial lot
- Finished basement and detached garage
- Four bus stops within approximately 400 feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,460
Cap Rate
8.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$549,200
$549.2K
Cap Rate 7%
$392,286
$392.3K
Cap Rate 9%
$305,111
$305.1K
Market Conditions
NOI Build-Up for 1,614 SF
Gross rent
$50.4K $31.20/SF
− Vacancy
−$11.1K −$6.90/SF
EGI
$39.2K $24.30/SF
− OpEx
−$11.8K −$7.29/SF
NOI
$27.5K $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 Rate 5%
$549,200
Cap Rate 7%
$392,286
Cap Rate 9%
$305,111
Alternative Uses
Best Use
Retail
$392.3K
$343.3K – $457.7K
NOI $27,460 @ 7.0% cap · market cap 8.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$448.3K
$392.3K – $523.0K
NOI $31,382 @ 7.0% cap · market cap 9.51%
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
Location Intelligence
Trade Area within ½ mile
653
Businesses Nearby
6k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 86%
Dining 14%
Mister Car Wash
Shops & Services
3,927 visits/mo
0.0 miles
Napa Auto Parts
Shops & Services
919 visits/mo
0.1 miles
Marco's Pizza
Dining
815 visits/mo
0.2 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
Similar Off Market Nearby
- Sunnyside Memorials — 1917 2nd Ave STE 1, Anoka, MN 55303
- Main Floral — 1917 2nd Ave, Anoka, MN 55303
Frequently Asked Questions
What type of property is this?
Storefront property - A detached garage and half-acre commercial parcel accompany the finished lower level.
Where is this storefront property located?
The property is located at 721 E River Road Anoka, MN.
What is the asking price?
The asking price for this property is $329,900.
What are key features of this property?
This property features: Half‑acre commercial lot; Finished basement and detached garage; Four bus stops within approximately 400 feet
