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    8054 Spring Lake Road NE Spring Lake Park, MN 55432

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    For Sale
    $575,000

    Lots & Land - Spring Lake Park, MN

    Lot size:
    1.66 Acres
    Added:
    May 5, 2026
    Days on Market:
    4
    Last Refresh:
    May 8 at 8:06 am

    Property Features for 8054 Spring Lake Road NE

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Business/Commercial
    Standard status
    Active
    APN
    063023320043
    Lot size
    1.66 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Annual Amount
    4440

    Building Details

    Year built
    1937
    Architectural style
    Other

    We can help!

    Listing Contact
    Mary Sabby
    Mary Sabby

    Listing agent Mary Sabby

    Listing office Counselor Realty, Inc 3200 NW Main Street Suite 365, Coon Rapids, MN

    Listing date May 5, 2026

    MLS# 7068759 Listing URL

    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.

    HighLights

    • Prime corner lot location on Hwy 10 with high visibility and traffic.
    • Potential for rezoning to R‑3 for townhome, multifamily, or senior housing development.
    • Comprehensive Plan supports medium‑density residential development (up to 10 units per acre).
    • Strong housing demand in the area with high occupancy rates and rental income.
    • Senior housing development benefits from reduced parking requirements.
    • City has indicated receptiveness to R‑3 rezoning.

    Overview

    Highway 10 Corner Development Site

    This 1.7-acre corner site is located on Highway 10, offering excellent visibility and high traffic counts. The property is currently zoned C2, which allows for limited commercial uses. According to the Comprehensive Plan, the property is guided for medium-density residential development, allowing up to 10 units per acre. The city has indicated it is receptive to R-3 rezoning, making it an ideal opportunity for townhome, multifamily, or senior housing development. Strong housing demand in the area supports this potential, with neighboring properties reporting extended waitlists for two-bedroom units and rates around $1700 per month. Senior housing development may benefit from reduced parking requirements, allowing for a more efficient layout. Please note that Highway 10 corridor improvements and potential lane/access modifications may impact future access. An existing home on the property is considered a teardown and is sold as-is. Buyers are responsible for verifying all zoning, density, market, and development requirements.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Dental Office Spa & Massage Center Building Supply Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Spring Lake Park
    County
    Anoka
    State
    Minnesota
    Longitude
    -93.22574
    Latitude
    45.114025

    Nearby Similar for Sale

    • $1,600,000
      10,000 SF

      Turnkey Office Building For Sale

      Well-maintained office building with recent updates and flexible layout.
      1481 81st Ave NE, Spring Lake Park, MN
      View Details
    • Contact for pricing

      Highway 65 Commercial Land

      0.64 acres with high visibility and highway access.
      8059 Hwy 65 NE, Spring Lake Park, MN
      View Details

    FAQs

    What type of property is this?
    Commercial land - Prime 1.7-acre corner site ideal for development.
    Where is this commercial land located?
    The property is located at 8054 Spring Lake Road NE Spring Lake Park, MN.
    What is the asking price?
    The asking price for this property is $575,000.
    What are key features of this property?
    This property features: Prime corner lot location on Hwy 10 with high visibility and traffic.; Potential for rezoning to R‑3 for townhome, multifamily, or senior housing development.; Comprehensive Plan supports medium‑density residential development (up to 10 units per acre).
    (952) 921-0911
    We can help!
    Listing Contact
    Mary Sabby
    Mary Sabby
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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