Spacious Garages with RV
For Sale
Contact for pricing
6149 Storage LN NE #71, Carlos, MN 56319
Garages for RVs, cars, and toys with association ownership.
Property Size6,400 SF
Price / SF$66.45
Days on Market776
Property Features for 6149 Storage LN NE #71
General Information
Standard status
Active
Size
6,400 SF
Property subtype
Special Purpose
Building Details
Year Built
2024
Units
1
Listing Agency:
Coldwell Banker Crown Realtors
(320) 762-2172
Listed By:
Sharon Quernemoen · License #MN
Source:
Crexi
Added: Jun 27, 2024
Changed: Aug 8
Last Checked: Aug 11 at 2:54PM
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 Coldwell Banker Crown Realtors
Investment Insights
Based on property information with market context.
The property features garages suitable for storing RVs, extra cars, and other recreational equipment. The garages operate under an association ownership concept, providing a maintenance-free exterior. Bathroom facilities are available. Each building is equipped with electricity. A dumping station is located on-site. The garages have a 4-inch concrete floor with a 4-foot apron. A garage door opener is included with the purchase. The garage size is 64 x 100. One overhead door measures 16 x 14, and two overhead doors measure 12 x 14. The annual association dues are $400. Insurance is paid annually according to the unit size. For $317,900, the garages include 3 insulated doors, a private well, and an uninsulated interior.
Key Highlights
- Own your own garage and real estate, providing secure and private storage.
- Large garage size (64 x 100) with multiple overhead doors (16 x 14 and two 12 x 14) suitable for RVs, cars, and other large items.**
- Maintenance‑free exterior and association ownership concept simplifies property upkeep.
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
$38,707
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
9.10%
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%
$774,140
$774.1K
Cap Rate 7%
$552,957
$553.0K
Cap Rate 9%
$430,078
$430.1K
Market Conditions
NOI Build-Up for 6,400 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
$57.6K $9.00/SF
− Vacancy
−$2.3K −$0.36/SF
EGI
$55.3K $8.64/SF
− OpEx
−$16.6K −$2.59/SF
NOI
$38.7K $6.05/SF
Area
Douglas County, MN
Vacancy
4.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
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%
$774,140
Cap Rate 7%
$552,957
Cap Rate 9%
$430,078
Alternative Uses
Best Use
Retail
$1.88M
$1.65M – $2.20M
NOI $131,834 @ 7.0% cap · market cap 31.00%
Second Best
Industrial
$553.0K
$483.8K – $645.1K
NOI $38,707 @ 7.0% cap · market cap 9.10%
Theoretical Best
Specialty Retail
$2.02M
$1.77M – $2.35M
NOI $141,251 @ 7.0% cap · market cap 33.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 56319, MN
1,300
Population
806
Households
1.6
Avg Household Size
39
Median Age
23%
College-Educated
96%
High-School Grad
40.4 sq mi
ZIP Area
32
Density / Sq Mi
$85,500
Median Household Income
$46,652
Median Earnings
$1,054
Median Rent
$282,000
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Parking lot & garage - Garages for RVs, cars, and toys with association ownership.
Where is this parking lot & garage located?
The property is located at 6149 Storage LN NE #71 Carlos, MN.
What is the asking price?
The asking price for this property is $425,250.
What are key features of this property?
This property features: Own your own garage and real estate, providing secure and private storage.; Large garage size (64 x 100) with multiple overhead doors (16 x 14 and two 12 x 14) suitable for RVs, cars, and other large items.**; Maintenance‑free exterior and association ownership concept simplifies property upkeep.
