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    2020 9th Street E Glencoe, MN 55336

    View on Map
    For Sale
    $179,900

    Commercial - Glencoe, MN

    Lot size:
    0.42 Acres
    Added:
    May 18, 2025
    Days on Market:
    320
    Last Refresh:
    Apr 2 at 12:06 am

    Property Features for 2020 9th Street E

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Business/Commercial
    Parking features
    Driveway, Garage, Garage - Attached, Heated, Parking Lot, Tandem
    Exterior features
    Metal, Vinyl
    Standard status
    Active
    APN
    220880270
    Lot size
    0.42 Acres

    Taxes and HOA fees

    TaxYear
    2024
    TaxAnnualAmount
    6482

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1981
    Architectural style
    Other

    We can help!

    Listing Contact
    Michaelee Jenkins
    Michaelee Jenkins

    Listing agent Michaelee Jenkins

    Listing office RE/MAX Advantage Plus 13875 Highway 13 South, Savage, MN

    Listing date May 18, 2025

    MLS# 6724757 Listing URL

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

    Overview

    Versatile Commercial Building in Glencoe

    This one-level commercial building, constructed in 1981, offers 6000 square feet suitable for various business purposes. The layout includes a large front office area with a reception and lobby, three bathrooms, and a spacious kitchen/breakroom. A conference room and a private bathroom within the front office enhance functionality. The property also features an attached, heated two-stall tandem garage with openers, providing a total of four stalls accessible via two doors on each side. Previously, one side of the building was used as a daycare facility. The building is equipped with three forced air furnaces and three central air conditioning units. It is located next to a UPS warehouse and is a few blocks from Highway 212, offering convenient access to the Twin Cities. This building is suitable for professional services, industrial businesses, daycare, light assembly, office settings, retail space, or a dentist or chiropractor office.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Heartland Community Action High School

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Glencoe
    County
    McLeod
    State
    Minnesota
    Longitude
    -94.134518
    Latitude
    44.767911

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    FAQs

    What type of property is this?
    Retail space - 6000 sq ft commercial building suitable for multiple business types.
    Where is this retail space located?
    The property is located at 2020 9th Street E Glencoe, MN.
    What is the asking price?
    The asking price for this property is $179,900.
    What are key features of this property?
    This property features: 6000 sq ft commercial building with multiple potential uses.; Convenient location near Hwy 212 and UPS warehouse, providing easy access to the Twin Cities.; Attached 4‑stall (tandem) heated garage with openers.
    (952) 992-9299
    We can help!
    Listing Contact
    Michaelee Jenkins
    Michaelee Jenkins
    Real Estate License ID: RA- 20337033
    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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