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    Maple Grove Snap Fitness Investment Title is generated by Realmo AI

    9475 Garland Lane North, Maple Grove, MN 55311

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    For Sale
    $1,635,000

    Single-tenant net-leased fitness franchise in Maple Grove, Minnesota.

    Type:Retail
    Property size:
    4,600 SF
    Price / SF:
    $355/SF
    Added:
    Mar 7, 2026
    Days on Market:
    91
    Last Refresh:
    Mar 7 at 7:08 pm

    Property Features for 9475 Garland Lane North

    General Information

    Standard status
    Active
    Size
    4,600 SF
    Property subtype
    Retail

    Building Details

    Year Built
    2005

    We can help!

    Listing Contact
    Mark Robinson, CCIM

    Listing agent Mark Robinson, CCIM

    Listing office Mid-America Real Estate-Minnesota LLC

    Listing date Mar 7, 2026

    Source Midamericagrp

    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 Mid-America Real Estate-Minnesota LLC

    HighLights

    • New 10‑year lease with 3% annual rent increases.
    • Located in a high‑growth area of Maple Grove with strong demographics: over 76,000 population within three miles and average income above $125,000.
    • Established business with a 17‑year operating history at this location.
    • Shadow‑anchored by major retailers including Super Wal‑Mart, Sam's Club, and Menard's.
    • Proximity to Maple Grove Hospital, a major employer and traffic generator.
    • Located in Maple Grove, one of the fastest‑growing suburbs of Minneapolis‑St. Paul.

    Overview

    This 4,600 square foot single-tenant property is a net-leased Snap Fitness franchise located in Maple Grove, an affluent northwest suburb of Minneapolis-St. Paul. Snap Fitness is an international franchise with over 1,000 clubs and 1 million members in 20 countries. The property benefits from a dense daytime and residential population in the immediate area, with over 76,000 residents within a three-mile radius and an average income above $125,000. The business has operated as a Snap Fitness at this location since the building was constructed 17 years ago. A new 10-year lease was recently executed with the franchisee, featuring three percent annual increases. The property is shadow-anchored by national and regional retailers and employers, and is adjacent to a Super Wal-Mart, Sam's Club, Menard's, and Hobby Lobby. Maple Grove Hospital is located one mile away. The city of Maple Grove has experienced rapid growth due to its location along the Interstate 94 corridor, a strong school system, and proximity to employers. The area is experiencing continued growth of luxury homes, luxury multi-family residences, and commercial developments. The upcoming extension of Highway 610, crossing I-94 to the west and just north of the property, is expected to further development growth and density in the trade area.
    Location Intelligence

    Current Use by Public Records

    Fitness centers & gyms

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center Pharmacy

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

    Similar Places Nearby

    • NZ Enterprizes Inc — 16609 78th Ave N, Maple Grove, MN 55311
    • Aim Health & Wellness — 17589 82nd Ave N, Maple Grove, MN 55311

    Location Insight

    • Map
    • Local Demand
    City
    Maple Grove
    County
    Hennepin
    State
    Minnesota
    Longitude
    -93.496473
    Latitude
    45.1262313

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    FAQs

    What type of property is this?
    Fitness center & gym - Single-tenant net-leased fitness franchise in Maple Grove, Minnesota.
    Where is this fitness center & gym located?
    The property is located at 9475 Garland Lane North Maple Grove, MN.
    What is the asking price?
    The asking price for this property is $1,635,000.
    What are key features of this property?
    This property features: New 10‑year lease with 3% annual rent increases.; Located in a high‑growth area of Maple Grove with strong demographics: over 76,000 population within three miles and average income above $125,000.; Established business with a 17‑year operating history at this location.
    (651) 983-4861
    We can help!
    Listing Contact
    Mark Robinson, CCIM
    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.

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