Building Details

Year Built 1950

Listing Agency: Realty Inc

Listed By: Gregory Hiniker Show Phone

Source: Vibemn

Added: Aug 21 Changed: Oct 14 Last Checked: Oct 7 at 12:57PM

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Investment Insights

Based on property information with market context.

This commercial property in Garrison is associated with an established automotive repair operation and has supported repair services for local customers. The building dates to 1950 and offers a commercial setting along Hwy 169.

The property is located across from Lake Mille Lacs at 9479 Madison Street. Inventory is offered separately, and an adjoining residential home may also be purchased separately.

Key Highlights

• Automotive repair property along Hwy 169
• Across from Lake Mille Lacs
• Building constructed in 1950

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$22,535

Cap Rate

7.54%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$450,700 $450.7K

Cap Rate 7%

$321,929 $321.9K

Cap Rate 9%

$250,389 $250.4K

Market Conditions

NOI Build-Up for 2,430 SF

Gross rent

$35.0K $14.40/SF

− Vacancy

−$2.8K −$1.15/SF

EGI

$32.2K $13.25/SF

− OpEx

−$9.7K −$3.97/SF

NOI

$22.5K $9.27/SF

Area

Crow Wing County, MN

Vacancy

8.00%

Lease Rate

$14.40 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$450,700

Cap Rate 7%

$321,929

Cap Rate 9%

$250,389

Alternative Uses

Best Use

Retail

$321.9K

$281.7K – $375.6K (±1% cap)

NOI $22,535 @ 7.0% cap · market cap 7.54%

Second Best

Industrial

$203.4K

$178.0K – $237.3K (±1% cap)

NOI $14,238 @ 7.0% cap · market cap 4.76%

Theoretical Best

Office A

$515.9K

$451.4K – $601.9K (±1% cap)

NOI $36,112 @ 7.0% cap · market cap 12.08%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Lingwall's Garage Auto Repair Shop

Suggested Use

Top Pick Auto Repair Shop Building Supply Auto Parts Store Veterinary Clinic Grocery & Convenience Store Food Market

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

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

100

Businesses Nearby

49k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 65% Dining 35%

Holiday Station Store Shops & Services

27,665 visits/mo 0.1 miles

McDonald's Dining

17,394 visits/mo 0.4 miles

Dollar General Shops & Services

3,976 visits/mo 0.1 miles

Demographics for 56450, MN

1,129

Population

1,061

Households

1.1

Avg Household Size

58

Median Age

18%

College-Educated

87%

High-School Grad

26.3 sq mi

ZIP Area

43

Density / Sq Mi

$59,076

Median Household Income

$26,350

Median Earnings

$933

Median Rent

$190,900

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this auto shops located? What is the asking price? Find similar properties What are key features of this property?

Similar Off Market Nearby

• Lingwall's Garage — 9479 Madison St, Garrison, MN 56450

Frequently Asked Questions

What type of property is this?

Auto shop - Established automotive repair property in Garrison positioned across from Lake Mille Lacs.

Where is this auto shop located?

The property is located at 9479 Madison St Garrison, MN.

What is the asking price?

The asking price for this property is $299,000.

What are key features of this property?

This property features: Automotive repair property along Hwy 169; Across from Lake Mille Lacs; Building constructed in 1950