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    402 Main St N Stillwater, MN 55082
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    402 Main St N Stillwater, MN 55082

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    • Commercial real estate
    • 41,808 SF
    • 1.56 lot acres
    For Lease
    $15 SF/Yr
    View Listing →
    402 Main St N, Stillwater, MN For Lease
    $15 SF/Yr

    402 Main St N, Stillwater, MN

    Office suite in Stillwater's historic post and beam warehouse.

    402 Main St N, Stillwater, MN 55082
    View Listing
    Property ID
    US46-0864465
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Stillwater Art Guild Gallery / Art Gallery
    • Victoriano's Pizza / Restaurant
    • The Goodery / Specialty Food Shop / (Bike/Boat/Book/etc) Store
    • The Hive House / (Bike/Boat/Book/etc) Store / Photography Service
    • Uncommon Movement: Pilates, GYROTONIC® & Fitness Studio / Gym & Fitness Center

    Property Details for 402 Main St N

    Year built
    1898
    Lot size
    1.56 lot acres
    Property size
    41,808 SF
    Property type
    Commercial real estate
    APN
    28-030-20-13-0166
    APU
    2803020130166

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,271,000
      Market price range: $3.27M - $10.6M

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

    Location Insight

    • Map
    • Local Demand
    City
    Stillwater
    County
    Washington
    State
    Minnesota
    Longitude
    -92.808
    Latitude
    45.0597
    CBSA code
    33460
    CBSA name
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $65,296
    $1,047,000
    $1,206,400
    $2,253,400
    -
    $1,047,000
    $1,206,400
    $2,253,400

    Comparable in this City

    • Value Estimation
      $4,025,000
      31,663 SF

      402 Main S St

      COMMERCIAL (GENERAL) • 31,663 SF
      402 Main S St, Stillwater, MN 55082-5128
      View Details
    • Value Estimation
      $1,545,000
      15,782 SF

      214 Main S St

      COMMERCIAL (GENERAL) • 15,782 SF
      214 Main S St, Stillwater, MN 55082-5124
      View Details
    • Value Estimation
      $900,000
      9,028 SF

      5843 Neal N Ave

      COMMERCIAL (GENERAL) • 9,028 SF
      5843 Neal N Ave, Stillwater, MN 55082-2177
      View Details
    • Value Estimation
      $925,000
      0.44 Acres

      1675 Greeley S St

      COMMERCIAL (GENERAL) • 0.44 Acres
      1675 Greeley S St, Stillwater, MN 55082-6091
      View Details
    • Value Estimation
      $5,725,000
      88,843 SF

      5805 Krueger Ln

      COMMERCIAL (GENERAL) • 88,843 SF
      5805 Krueger Ln, Oak Park Heights, MN 55082-2189
      View Details
    • Value Estimation
      $1,450,000
      11,070 SF

      5880 Omaha N Ave

      COMMERCIAL (GENERAL) • 11,070 SF
      5880 Omaha N Ave, Stillwater, MN 55082-6330
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,858 SF

      Stillwater Tavern and Pub Opportunity

      Operating tavern and real estate for sale in Stillwater.
      145 New England Pl, Stillwater, MN 55082
      View Details
    • $350,000
      0.93 Acres

      Commercial Lot on Highway 36

      Commercial lot with high traffic and highway visibility.
      14231 60Th St N, Oak Park Heights, MN 55082
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      22,200 SF

      Historic Retail Site in Stillwater

      Charming, fully occupied retail property in vibrant downtown Stillwater.
      317 S Main St, Stillwater, MN 55082
      View Details
    • $1,600,000
      3,751 SF

      Retail Property in Oak Park Heights

      Retail property with 3,751 square feet available for sale.
      5920 Neal Ave N, Oak Park Heights, MN 55082
      View Details
    • Contact for pricing

      Commercial Lots in Liberty on Lake

      Two commercial lots in Liberty on the Lake development.
      New England Pl, Stillwater, MN 55082
      View Details
    • $165,000
      0.14 Acres

      Residential Lot in Stillwater, MN

      Residential lot available for building a dream home.
      3693 Tending Grn, Stillwater, MN 55082
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Stillwater Flex Space Available

      Flex space with office and warehouse areas in Stillwater.
      11020 60Th St N, Stillwater, MN 55082
      View Details
    • Contact for pricing

      Office Unit Near Historic Courthouse

      Office unit for lease near Stillwater Historic Courthouse.
      522 4Th St S, Stillwater, MN 55082
      View Details
    • Contact for pricing
      12,000 SF

      Retail/Medical Pad Ready Outlot

      Retail space available in Stillwater retail trade area.
      Nova Scotia Ave, Oak Park Heights, MN 55082
      View Details
    • $20 SF/Yr
      3,324 SF

      Historic Retail Space on Main

      Prime retail location in historic Stillwater, downtown Main Street.
      324 S Main St, Stillwater, MN 55082
      View Details
    • Contact for pricing
      10,000 SF

      Retail Space in Oak Park Heights

      Retail space in established shopping center with high visibility.
      Neal Ave N, Oak Park Heights, MN 55082
      View Details
    • $15 SF/Yr
      3,338 SF

      Stillwater Office Space Available

      Office space available for lease in Stillwater, Minnesota.
      1825 Curve Crest Blvd, Stillwater, MN 55082
      View Details
    View Listing
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    Stillwater, MN 55082
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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.

    More about this property
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