Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    38500 Tanger Dr North Branch, MN 55056
    Back to Search
    Property profile & analytics

    38500 Tanger Dr North Branch, MN 55056

    View on Map
    • Lifestyle centers
    • 145,432 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lifestyle centers

    Property Details for 38500 Tanger Dr

    Year built
    1992
    Property size
    145,432 SF
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    This exceptional 145,432 square foot, single-story Class B shopping center in North Branch, Minnesota, presents a unique investment opportunity. Located at 38500 Tanger Dr, 55056, this 15-acre property boasts 67,194 square feet of immediately available space, divisible into units ranging from 2,628 to 13,600 square feet. Built in 1992 and zoned B-3, the center offers ample parking (7.44 spaces per 1,000 square feet) and is conveniently situated 40 miles north of the Twin Cities off I-35W, providing easy access to a thriving regional market. The property benefits from its location along a major route connecting the Twin Cities to popular recreational destinations, including Duluth-Superior and the Hinkley Casino. North Branch's robust economy, evidenced by its high sales per capita in Minnesota, creates a strong foundation for business growth. The property is ideal for established businesses and innovative concepts seeking to capitalize on this dynamic market. Thirteen spaces are currently available. This is a chance to establish a presence in a rapidly growing community with high consumer spending.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    North Branch
    County
    Chisago
    State
    Minnesota
    Longitude
    -92.9946
    Latitude
    45.5069

    Comparable in this City

    • Value Estimation by Request
      16.97 Acres

      30931 Virgo St

      Land • 16.97 Acres
      30931 Virgo St, North Branch, MN 55056
      View Details
    • Value Estimation by Request
      0.54 Acres

      38963 Tanger Dr

      Land • 0.54 Acres
      38963 Tanger Dr, North Branch, MN 55056
      View Details
    • Value Estimation by Request
      0.30 Acres

      N

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 0.30 Acres
      N, Branch, MN 55056
      View Details
    • Value Estimation by Request
      0.24 Acres

      N

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 0.24 Acres
      N, Branch, MN 55056
      View Details
    • Value Estimation by Request
      0.29 Acres

      N

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 0.29 Acres
      N, Branch, MN 55056
      View Details
    • Value Estimation by Request
      0.05 Acres

      6644 Main St

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 0.05 Acres
      6644 Main St, North Branch, MN 55056-7069
      View Details

    Similar Nearby for Sale

    • $660,000
      2.34 Acres

      Bowling Alley with Bar & Volleyball

      12-lane bowling alley with bar, event space, and volleyball.
      6427 Ash St, North Branch, MN 55056
      View Details
    • $419,000
      0.26 Acres

      North Branch Commercial Building For Sale

      6000+ sq ft commercial building in high-traffic area.
      38875 Forest Blvd, North Branch, MN 55056
      View Details
    • $3,125,000
      21,040 SF

      Redeveloped Retail/Automotive Space on I-35

      21,000 SF redeveloped space ideal for retail or automotive businesses.
      38450 Tanger Dr, North Branch, MN 55056
      View Details
    • $4,500,000
      68,880 SF

      Prime Commercial Building Near I-35

      Terrific building with great visibility and access on I-35.
      5360 St Croix Trl, North Branch, MN 55056
      View Details
    • $4,750,000
      87,888 SF

      Former Shopko Retail Opportunity

      87,888 SF retail space with ample parking and freeway visibility.
      5630 St Croix Trl, North Branch, MN 55056
      View Details
    • $174,900
      16.04 Acres

      North Branch Land with Views

      16+ acre lot with open space and mature trees.
      Tbd Saint Croix Trl, North Branch, MN 55056
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,880 SF

      Retail Space in North Branch

      Retail space available in North Branch Marketplace.
      5466 St Croix Trl, North Branch, MN 55056
      View Details
    • Contact for pricing
      4,826 SF

      Retail Space in North Branch

      Retail space available in North Branch Retail Mall.
      38500 Tanger Dr, North Branch, MN 55056
      View Details
    • Contact for pricing
      13,600 SF

      Tanger Mall Retail Opportunity

      13,600 SF free-standing building in Tanger Mall available for rent.
      38550 Tanger Dr, North Branch, MN 55056
      View Details
    • Contact for pricing
      1,365 SF

      Retail/Office Space on Main Street

      Retail or office space available in North Branch, Minnesota.
      6041 Main St, North Branch, MN 55056
      View Details
    • Contact for pricing
      7,920 SF

      Retail Lots Available For Lease

      Retail lots available for lease in North Branch, Minnesota.
      5300 St Croix Trl, North Branch, MN 55056
      View Details
    • $20 SF/Yr
      2,341 SF

      Downtown Retail Space Available

      Three suites available in prime downtown location with high traffic.
      6382 Main St, North Branch, MN 55056
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    38500 Tanger Dr
    North Branch, MN 55056
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    38500 Tanger Dr, North Branch, MN, 55056
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!