Two-Tenant Retail
New
For Sale
$1,275,000
9599 Zachary Lane N, Maple Grove, MN 55369
Commercial Sale, Maple Grove, MN
Property Size3,674 SF
Lot Size0.50 Acres
Price / SF$347.03
Days on Market3
Property Features for 9599 Zachary Lane N
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Business/Commercial
Parking features
Parking Lot, Covered
Subdivision
Buhl Zs Center
High school district
Osseo
Directions
Located on Zachary Ln N just off HWY 610 in Maple Grove, Mn
Standard status
Active
APN
1111922410015
Lot size
0.50 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
38968
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
2018
Listing Agency:
RE/MAX Results · RE/MAX International
(651) 251-4800
Listed By:
Mark K Hulsey · License #40169559
(952) 829-2900
Added: Sep 29
Last Checked: Oct 1 at 1:06AM
MLS# 7152038
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.
Investment Insights
Based on property information with market context.
Built in 2018, this 3,674-SF retail property sits on a 0.50-acre lot and contains two separately metered suites. Dunkin' Donuts occupies 1,708 RSF and operates a drive-through under a NNN lease with approximately 19 months remaining. The other suite offers 1,966 SF of vacant retail space and can be divided to 863 SF. Its existing interior heater remains in place, but the space will need a new rooftop unit; both existing RTUs serve the occupied suite. On-site parking serves both spaces.
The property has PUD zoning, with commercial uses subject to city approval. Highway 610, Highway 169, and I-94 provide access to the northwest metro area. The vacant suite is available for occupancy by a new tenant or owner-user.
The property has PUD zoning, with commercial uses subject to city approval. Highway 610, Highway 169, and I-94 provide access to the northwest metro area. The vacant suite is available for occupancy by a new tenant or owner-user.
Key Highlights
- 3,674 SF retail building on a 0.50‑acre lot; built in 2018
- Dunkin' Donuts occupies 1,708 RSF with a drive‑through and approximately 19 months remaining on a NNN lease
- Vacant 1,966‑SF retail suite can be divided to 863 SF
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$46,375
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.64%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$927,500
$927.5K
Cap Rate 7%
$662,500
$662.5K
Cap Rate 9%
$515,278
$515.3K
Market Conditions
NOI Build-Up for 3,674 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$66.1K $18.00/SF
− Vacancy
−$4.3K −$1.17/SF
EGI
$61.8K $16.83/SF
− OpEx
−$15.5K −$4.21/SF
NOI
$46.4K $12.62/SF
Area
Hennepin County, MN
Vacancy
6.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$927,500
Cap Rate 7%
$662,500
Cap Rate 9%
$515,278
Alternative Uses
Best Use
Specialty Retail
$662.5K
$579.7K – $772.9K
NOI $46,375 @ 7.0% cap · market cap 3.64%
Second Best
Retail
$581.0K
$508.4K – $677.8K
NOI $40,668 @ 7.0% cap · market cap 3.19%
Theoretical Best
Office A
$876.5K
$767.0K – $1.02M
NOI $61,358 @ 7.0% cap · market cap 4.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
346
Businesses Nearby
Explore this area
Business Placement
Demographics for 55369, MN
38,379
Population
16,732
Households
2.3
Avg Household Size
40
Median Age
51%
College-Educated
97%
High-School Grad
24.8 sq mi
ZIP Area
1,548
Density / Sq Mi
$112,541
Median Household Income
$64,532
Median Earnings
$1,792
Median Rent
$356,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - A drive-through Dunkin' Donuts occupies one suite, with a separate vacant space available for an owner-user or tenant.
Where is this retail space located?
The property is located at 9599 Zachary Lane N Maple Grove, MN.
What is the asking price?
The asking price for this property is $1,275,000.
What are key features of this property?
This property features: 3,674 SF retail building on a 0.50‑acre lot; built in 2018; Dunkin' Donuts occupies 1,708 RSF with a drive‑through and approximately 19 months remaining on a NNN lease; Vacant 1,966‑SF retail suite can be divided to 863 SF
