955 W Broadway Avenue Forest Lake, MN 55025

955 W Broadway Avenue, Forest Lake, MN, 55025
955 W Broadway Avenue, Forest Lake, MN, 55025
Property Type:
Mixed Use
Cap Rate:
Last Verified:
May 20, 2024
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REDUCED PRICE! Car Wash Business For Sale and/or Redevelopment Opportunity CONFIDENTIAL - PLEASE DO NOT APPROACH THE BUSINESS DIRECTLY This 3-tenant property offering includes a fully staffed owner-operated car wash requiring limited owner involvement. Income from the car wash along with rental income from the two rental spaces create an attractive investment. Located in the highly desirable Forest Lake retail trade area, the underlying and underused real estate makes for an extremely attractive redevelopment opportunity. Area tenants include Home Depot, Chipotle, Walmart Supercenter, Tires Plus, Northern Tool, Perkins, Running Aces Casino, Hotel and Racetrack, and more. Highlights and Features: • Local and regional trade area • Just 2 blocks off I-35 and Forest Lake exit • High traffic counts • Great visibility • 2 access points: West Broadway Avenue and First Avenue Northeast • In the heart of the business district Demographics and Traffic Counts: • Average Household Population: 1 mile - 3,223, 3 miles - 12,795 and 5 miles - 21,300 • Average Household Income: 1 mile - $55,528, 3 miles - $77,808 and 5 miles - $78,262 • I-35 - 67,590 vpd, and W Broadway Ave - 24,665 vpd Available For Sale - Property and Business: • PIDS:,, and • Building SF: 4,680 • Parcel Area: 1.18 acres | 51,596 sf • Year Built: 2001 • Zoning: B2 - Highway Business District • 2017 Tax Cut and Jobs Act allows for up to accelerated depreciation on property improvements for car wash assets. • 2024 Tax: $22,344 • Sale Price: $999,000

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.