Retail Showroom with
New
For Sale
$599,000
816 NE 4th Street, Grand Rapids, MN 55744
A customer-facing showroom is paired with dedicated warehouse space and loading docks.
Property Size14,000 SF
Price / SF$66.56
Days on Market3
Property Features for 816 NE 4th Street
General Information
Standard status
Active
Size
14,000 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Business Included
Yes
Warehouse Space
5,000 SF
Building Details
Year Built
1945
Building Size
14,000 SF
Tenancy
Single
Listing Agency:
Lake Country Resort Sales, Inc
Listed By:
Michael Bartus
(952) 400-7000
Source:
Hometwincities
Added: Oct 7
Last Checked: Oct 7 at 2:19PM
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 Lake Country Resort Sales, Inc
Investment Insights
Based on property information with market context.
The property combines 9,000 square feet of showroom area with 5,000 square feet of warehouse space. Loading docks serve the warehouse, while the showroom provides a substantial customer-facing retail area. The site has operated as a furniture store for more than 44 years.
The property is located along a US highway carrying more than 10,000 vehicles daily. Its address is 816 NE 4th Street in Grand Rapids, Minnesota.
The property is located along a US highway carrying more than 10,000 vehicles daily. Its address is 816 NE 4th Street in Grand Rapids, Minnesota.
Key Highlights
- 9,000 square feet of showroom space
- 5,000 square feet of warehouse space with loading docks
- Located on a US highway with more than 10,000 vehicles passing daily
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,489
Cap Rate
7.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$949,780
$949.8K
Cap Rate 7%
$678,414
$678.4K
Cap Rate 9%
$527,656
$527.7K
Market Conditions
NOI Build-Up for 9,000 SF
Gross rent
$78.8K $8.76/SF
− Vacancy
−$11.0K −$1.22/SF
EGI
$67.8K $7.54/SF
− OpEx
−$20.4K −$2.26/SF
NOI
$47.5K $5.28/SF
Area
Itasca County, MN
Vacancy
13.95%
Lease Rate
$8.76 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$949,780
Cap Rate 7%
$678,414
Cap Rate 9%
$527,656
Alternative Uses
Best Use
Retail
$678.4K
$593.6K – $791.5K
NOI $47,489 @ 7.0% cap · market cap 7.93%
Second Best
Warehouse
$489.9K
$428.7K – $571.5K
NOI $34,292 @ 7.0% cap · market cap 5.72%
Theoretical Best
Specialty Retail
$867.7K
$759.2K – $1.01M
NOI $60,737 @ 7.0% cap · market cap 10.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Single-tenant
Tenancy
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
294
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 55744, MN
20,096
Population
9,733
Households
2.1
Avg Household Size
45
Median Age
30%
College-Educated
95%
High-School Grad
239.4 sq mi
ZIP Area
84
Density / Sq Mi
$68,213
Median Household Income
$39,232
Median Earnings
$1,014
Median Rent
$232,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
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Similar Off Market Nearby
- J&B Home Counselors — 412 NE 4th St, Grand Rapids, MN 55744
Frequently Asked Questions
What type of property is this?
Showroom - A customer-facing showroom is paired with dedicated warehouse space and loading docks.
Where is this showroom located?
The property is located at 816 NE 4th Street Grand Rapids, MN.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 9,000 square feet of showroom space; 5,000 square feet of warehouse space with loading docks; Located on a US highway with more than 10,000 vehicles passing daily
