Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    21553 Joplin Street NW Elk River, MN 55330

    View on Map
    Claim this Listing
    For Sale
    $185,000

    Lots & Land - Elk River, MN

    Lot size:
    2.00 Acres
    Added:
    Aug 11, 2025
    Days on Market:
    252
    Last Refresh:
    Apr 18 at 11:06 pm

    Property Features for 21553 Joplin Street NW

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Residential-Single Family
    Standard status
    Active
    APN
    tbd
    Lot size
    2.00 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    0
    Expense value
    97
    Expense
    Home Owner Assessments Fee
    Expense freq.
    Quarterly

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Daniel D Kreps

    Listing agent Daniel D Kreps

    Listing office Keller Williams Classic Realty Northwest 10402 73rd Ave N, Maple Grove, MN

    Listing date Aug 11, 2025

    MLS# 6770496 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

    Acreage Homesites in Premium Community

    Located in a premium community within the 13-county metro area, these lots offer a unique living experience with rugged, forested ridges overlooking ponds, meadows, and association-owned woodland wetlands. The location provides convenient access to downtown Minneapolis via the recently completed Highway 169 improvements, with an approximate 45-minute travel time. The community features 104 lots ranging from approximately 1 to 6 acres. A selection of wooded walkout and lookout homesites are available for immediate purchase and construction. Most homesites offer outbuilding potential, suitable for on-site shops, custom vehicle storage, or private spaces. Minimal covenants and restrictions are in place to protect property investments and ensure quality living for all owners. The area is rich in wildlife, including white-tail deer, fox, and turkeys, along with diverse plants, trees, and ferns. Ponds and protected areas offer peaceful trails for residents. The location is served by Elk River schools (District 728), with charter and private school options also available. City sewer access is available on these acreage homesites.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Daycare Center Pet Grooming Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Elk River
    County
    Sherburne
    State
    Minnesota
    Longitude
    -93.6069483
    Latitude
    45.3586917

    Nearby Similar for Sale

    • $16

      Prime Commercial Leasing Opportunity

      Commercial leasing opportunity in Elk River, from 2,000-18,000 sq. ft.
      630 Freeport Avenue NW, Elk River, MN 55330
      View Details
    • $2,500,000

      Elk River Investment Opportunity

      55+ 1-Level rental community with stable tenant base.
      11024-11038 183rd Circle NW, Elk River, MN 55330
      View Details
    • $16

      Elk River Commercial Land

      Commercial space with mixed-use zoning in Elk River, MN.
      610 Freeport Avenue NW, Elk River, MN 55330
      View Details
    • $130,000

      Elk River Acreage Lot

      Large 1.61 acre lot in desirable Elk River location.
      Xxx 192 1/2 Avenue NW, Elk River, MN 55330
      View Details
    • $130,000

      Residential Land in Elk River

      Large 1.59 acre lot in desirable Elk River location.
      Tbd 192 1/2 Avenue NW, Elk River, MN 55330
      View Details
    • $200,000

      Elk River Multifamily Development Land

      Nearly 6-acre parcel in Elk River, ready for development.
      19289 Upland Street, Elk River, MN 55330
      View Details
    • $780,000
      5,053 SF

      Elk River Professional Office Building

      5,053 sqft office building suitable for service-based businesses.
      11090 183rd Circle Northwest, Elk River, MN 55330
      View Details
    • $219,900

      Elk River Commercial Land

      High visibility commercial land near NorthStar Train Station in Elk River.
      17226 Twin Lakes Rd, Elk River, MN 55330
      View Details
    • $80,000

      Land for Residential Development

      2.5-acre lot for building a new home.
      20072 Lander Street NW, Elk River, MN 55330
      View Details
    • $180,000

      Heavily Wooded Residential Land

      3.16-acre lot near Elk River Golf Club.
      20331 Salem Street NW, Elk River, MN 55330
      View Details
    • $185,000

      Acreage Homesites in Premium Community

      1.69 acre lots in Elk River, city sewer access.
      21537 Joplin Street NW, Elk River, MN 55330
      View Details
    • $185,000

      Premium Community Homesite Opportunity

      1.96 acre homesite in a premium Elk River community.
      21575 Joplin Street NW, Elk River, MN 55330
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Homesites with city sewer access and outbuilding potential.
    Where is this residential land & home lot located?
    The property is located at 21553 Joplin Street NW Elk River, MN.
    What is the asking price?
    The asking price for this property is $185,000.
    What are key features of this property?
    This property features: Easy access to downtown Minneapolis with a 45‑minute commute via Highway 169.; Acreage homesites (1‑6 acres) with city sewer and outbuilding potential.; Part of a new premium community with forested ridges, ponds, meadows, and association‑owned wetlands.
    (612) 282-3173
    We can help!
    Listing Contact
    Daniel D Kreps
    Learn More
    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.
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!