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

    22261 160th Street NE Thief River Falls, MN 56701

    View on Map
    For Sale
    $585,000

    Land, Other - Thief River Falls, MN

    Type:Farm
    Lot size:
    157.78 Acres
    Added:
    Nov 5, 2025
    Days on Market:
    153
    Last Refresh:
    Apr 7 at 6:06 pm

    Property Features for 22261 160th Street NE

    General Information

    Property type
    Land
    Property subtype
    Farm
    Bedrooms
    2
    Bathrooms
    1
    Rooms
    Bathroom 1, Bedroom 1, Bedroom 2
    Standard status
    Active
    Lot size
    157.78 Acres

    Building Details

    Year built
    1915
    Architectural style
    Other

    We can help!

    Listing Contact
    Josh Hanson

    Listing agent Josh Hanson License #40799459,PersonLicenseNumber

    Listing office NextHome Legendary Properties 1650 45th St S, MN

    Listing date Nov 5, 2025

    MLS# 6814540 Listing URL

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

    Overview

    158-Acre Hobby Farm Opportunity

    This 158-acre hobby farm, located a few miles from town, offers a blend of farmland, recreation, and country living. The property includes 92 acres of tillable land, 43 acres of wooded recreation ground, and a 23-acre farmstead with multiple outbuildings. A large Quonset building provides space for machinery, storage, or workshop use, accompanied by a large grain bin and several smaller storage bins and sheds. The farmhouse, built in 1915, requires TLC, presenting an opportunity for remodeling or new construction. The tillable acreage is currently rented through 2028. The property offers views, wildlife, and possibilities for farming, hunting, or hobby use, all within minutes of town amenities. This versatile property with income potential has been in the same family for 110 years.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Farms

    Map

    City
    Thief River Falls
    County
    Pennington
    State
    Minnesota
    Longitude
    -95.9979725
    Latitude
    48.1029693

    Nearby Similar for Sale

    • $2.00

      New Commercial Space on Hwy 59

      Modern commercial space in Thief River Falls, high-traffic location.
      1916 Highway 59, Thief River Falls, MN 56701
      View Details
    • $1.85

      New Commercial Space For Sale

      New commercial space in Thief River Falls, ideal for various businesses.
      1916 Highway 59, Thief River Falls, MN 56701
      View Details
    • $1,080,000

      Multifamily Property in Thief River

      24-unit multifamily property with development potential in Thief River Falls.
      624 Kinney Ave , Thief River Falls , MN 56701
      View Details

    FAQs

    What type of property is this?
    Farm - Versatile hobby farm with income potential near town.
    Where is this farm located?
    The property is located at 22261 160th Street NE Thief River Falls, MN.
    What is the asking price?
    The asking price for this property is $585,000.
    What are key features of this property?
    This property features: 158‑acre hobby farm with **92 acres of high‑quality tillable land** and 43 acres of wooded recreation ground.; Income potential from tillable acreage currently rented through 2028.; Multiple outbuildings including **a large Quonset building, large grain bin, and several smaller storage bins & sheds**.
    (701) 491-8103
    We can help!
    Listing Contact
    Josh Hanson
    Real Estate License ID: 40799459,PersonLicenseNumber
    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!