Building Details

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Listing Agency: KW Commercial Midwest j***@kwcommercial.com Show Phone

Listed By: James Halbur · License #40144147

Source: Crexi

Added: Mar 14, 2025 Changed: Aug 13 Last Checked: Aug 23 at 11:44PM

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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 KW Commercial Midwest

Investment Insights

Based on property information with market context.

This commercial property offers convenient access to Hwy 83, facilitating logistics. It features a 10 x 10 overhead door and in-floor heating. The property includes a showroom and shop area, providing versatile spaces. It is equipped with 3-phase power. Constructed with a metal frame, the building offers a durable structure. The property's size is 9972 square feet.

Key Highlights

• Easy access to Hwy 83 for streamlined logistics.
• 10 x 10 overhead door for enhanced functionality.
• In‑floor heating for comfort and efficiency.

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

$73,893

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

8.72%

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%

$1,477,860 $1.5M

Cap Rate 7%

$1,055,614 $1.1M

Cap Rate 9%

$821,033 $821.0K

Market Conditions

NOI Build-Up for 9,972 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

$119.7K $12.00/SF

− Vacancy

−$6.0K −$0.60/SF

EGI

$113.7K $11.40/SF

− OpEx

−$39.8K −$3.99/SF

NOI

$73.9K $7.41/SF

Area

Blue Earth County, MN

Vacancy

5.00%

Lease Rate

$12.00 /SF/Yr

Expense Ratio

35.00%

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%

$1,477,860

Cap Rate 7%

$1,055,614

Cap Rate 9%

$821,033

Alternative Uses

Best Use

Flex RnD

$1.06M

$923.7K – $1.23M (±1% cap)

NOI $73,893 @ 7.0% cap · market cap 8.72%

Second Best

Industrial

$834.7K

$730.4K – $973.8K (±1% cap)

NOI $58,428 @ 7.0% cap · market cap 6.89%

Theoretical Best

Office A

$1.97M

$1.72M – $2.30M (±1% cap)

NOI $137,963 @ 7.0% cap · market cap 16.28%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Flex space

Suggested Use

Top Pick Hair Salon Accounting Firm Travel Agency (Bike/Boat/Book/etc) Store Arcade & Gaming Center Electronics & Wireless Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

4

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 56001, MN

50,729

Population

21,583

Households

2.4

Avg Household Size

30

Median Age

37%

College-Educated

94%

High-School Grad

114.5 sq mi

ZIP Area

443

Density / Sq Mi

$67,224

Median Household Income

$29,122

Median Earnings

$1,088

Median Rent

$263,100

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this flex space located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - Commercial property with showroom, shop area, and convenient features.

Where is this flex space located?

The property is located at 756 Main Street West Saint Clair, MN.

What is the asking price?

The asking price for this property is $847,620.

What are key features of this property?

This property features: Easy access to Hwy 83 for streamlined logistics.; 10 x 10 overhead door for enhanced functionality.; In‑floor heating for comfort and efficiency.