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    1500 Lake St Forest Lake, MN 55025

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    For Lease
    Contact for pricing

    Forest Lake retail space, multiple units available.

    Lot size:
    14,917 SF

    Property Features for 1500 Lake St

    General Information

    Property type
    Retail properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    14,917 SF
    Total Rate
    19889.33

    Building Details

    Year Built
    1995

    Spaces For Lease

    at 1500 Lake St, Forest Lake, MN 55025 Contact us
    Unit Retail: 103

    $16 /Mo

    Size
    1,200 SF
    Contact us
    Unit Retail: 107

    $16 /Mo

    Size
    1,415 SF
    Contact us

    We can help!

    Listing Contact
    Kevin Peck
    Kevin Peck

    Listing Agency: Suntide Commercial Realty Listing Agent: Kevin Peck

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Northland Plaza, located at 1500 Lake St S, Forest Lake, MN 55025, offers prime retail space for lease. This 14,917 square foot commercial property, built in 1995, sits on a 3.29-acre lot (APN: 1703221130026) and currently has 2,615 square feet of vacant space available. The property is ideal for multiple tenants, with individual units ranging from a minimum of 1,200 square feet to a maximum contiguous space of 1,415 square feet. The flexible layout allows for various business configurations. This well-located property provides excellent visibility and accessibility for customers. Its strategic placement in Forest Lake, Minnesota, offers a strong potential for business growth and success. The property's age suggests established infrastructure and potential for cost-effective operation. Interested parties are encouraged to inquire about lease terms and availability for these versatile retail spaces. The property's size and location make it an attractive opportunity for businesses seeking a prominent presence in the Forest Lake market. Don't miss this chance to secure your ideal retail space in this thriving community.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Nail Salon Daycare Center Department Store Building Supply Big Box & Wholesale Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Forest Lake
    County
    Washington
    State
    Minnesota
    Longitude
    -92.9846307
    Latitude
    45.263981

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    FAQs

    What type of property is this?
    Retail property - Forest Lake retail space, multiple units available.
    Where is this retail property located?
    The property is located at 1500 Lake St Forest Lake, MN.
    What is the lease rate?
    The lease rate is $16 SF/Yr.
    What are key features of this property?
    This property features: Recently renovated.; High-traffic Friar Tuck's Bar & Grill anchors the center.; Strong lunch and dinner traffic.
    (612) 834-2250 Call to check price and availability
    Request Owner's contact information
    1500 Lake St Forest Lake, MN 55025
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    Forest Lake, MN 55025
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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
    1500 Lake St Forest Lake, MN 55025
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    Contact for Pricing
    Please call us for current price
    and status of this listing Kevin Peck
    Kevin Peck
    Real Estate License ID: 20587160
    (612) 834-2250 (651) 603-0321 (651) 209-9637
    Learn more
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