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    Benson Land: Development Opportunity Title is generated by Realmo AI

    0 20th Ave NE/Co 57, Benson, MN 56215

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    Claim this Listing
    For Sale
    $389,200

    Commercial - Benson, MN

    Lot size:
    26.12 Acres
    Added:
    Jul 13, 2024
    Days on Market:
    679
    Last Refresh:
    May 22 at 8:06 am

    Property Features for 0 20th Ave NE/Co 57

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking features
    Garage
    Standard status
    Active
    APN
    20-0121-000
    Lot size
    26.12 Acres

    Taxes and HOA fees

    Tax Annual Amount
    0

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Terri Jensen

    Listing agent Terri Jensen

    Listing office National Land Realty, Minneapolis, MN 1005 Superior Drive, Northfield, MN

    Listing date Jul 13, 2024

    MLS# 11253487 Listing URL

    Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Excellent accessibility and long‑term development potential.
    • Strategic location bordering the City of Benson, with planned extensions of Montana and Oregon Avenues.
    • Strong transportation access via 20th Ave NE / County Road 57, located just off U.S. Highway 12.
    • Zoned for Urban Development, permitting a variety of uses.
    • Conditional uses allow for non‑farm dwellings, motels, truck rest stops, gas stations, restaurants, and more.
    • Proximity to Benson Municipal Airport and Lorenz Airport.

    Overview

    This 26.12-acre property in Benson, Minnesota, offers potential for farm usage and urban development. Known as the "City of Parks," Benson is the county seat of Swift County and hosts several of the region’s largest employers. The primarily level site provides accessibility and long-term development potential. The City of Benson borders the property along its west boundary, where Montana Avenue and Oregon Avenue are planned for future extension through the parcel according to the City’s transportation plan. The east boundary fronts 20th Ave NE / County Road 57, located just off U.S. Highway 12, providing transportation access and multiple development possibilities. The property is positioned for various uses permitted within the Urban Development zoning district, including agricultural activities, home occupations, and automobile dealerships. Conditional uses within the district allow for non-farm dwellings, motels, truck rest stops, gas stations, restaurants, commercial and industrial buildings, wind turbines, adult-use businesses, and manufactured home parks. Benson’s local economy is supported by manufacturing, health care, education, finance and insurance, and food and beverage retail. Air transportation is available at Benson Municipal Airport and Lorenz Airport, each with a runway capable of accommodating regional aviation needs. In addition to its proximity to U.S. Highway 12, the property benefits from regional access via Minnesota State Highway 9 and Minnesota State Highway 29, connecting Benson to key regional centers including Willmar and the Minneapolis–Saint Paul metropolitan area.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Benson
    County
    Swift
    State
    Minnesota
    Longitude
    -95.585042
    Latitude
    45.316237

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    FAQs

    What type of property is this?
    Commercial land - 26.12 acres in Benson, MN, for urban development.
    Where is this commercial land located?
    The property is located at 0 20th Ave NE/Co 57 Benson, MN.
    What is the asking price?
    The asking price for this property is $389,200.
    What are key features of this property?
    This property features: Excellent accessibility and long‑term development potential.; Strategic location bordering the City of Benson, with planned extensions of Montana and Oregon Avenues.; Strong transportation access via 20th Ave NE / County Road 57, located just off U.S. Highway 12.
    (507) 382-0908
    We can help!
    Listing Contact
    Terri Jensen
    Learn More
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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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