Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Downtown Norwood Young America Commercial Space Title is generated by Realmo AI

    223 Elm Street W, Norwood Young America, MN 55368

    View on Map
    Claim this Listing
    For Sale
    $149,900

    Commercial - Norwood Young America, MN

    Lot size:
    0.08 Acres
    Added:
    Feb 28, 2026
    Days on Market:
    96
    Last Refresh:
    Jun 4 at 1:06 pm

    Property Features for 223 Elm Street W

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Business/Commercial
    Parking features
    Driveway
    Exterior features
    Block, Brick Veneer, Brick/Stone
    Standard status
    Active
    APN
    580500210
    Lot size
    0.08 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    1396

    Utilities

    Cooling system
    Wall Unit(s)

    Building Details

    Year built
    1960
    Building materials
    Block, Frame
    Roof type
    Flat
    Architectural style
    Other

    We can help!

    Listing Contact
    Ken Haasken
    Ken Haasken

    Listing agent Ken Haasken

    Listing office Chestnut Realty 413 N Chestnut Street, Chaska, MN

    Listing date Feb 28, 2026

    MLS# 7024412 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.

    HighLights

    • Affordable commercial space in downtown Norwood Young America.
    • Wide open layout suitable for various businesses.
    • Brick front building with historical significance (former Post Office).
    • Includes front office, spacious working area, bathroom, and storage room.
    • Turn‑key opportunity for business growth.
    • Off‑street parking available with separate employee entrance.

    Overview

    This brick-front commercial space is located in downtown Norwood Young America. Originally used as a post office, the building has accommodated a number of different businesses since then, most recently a photography studio. The building features a wide-open layout with a front office, a spacious working area, a bathroom, an employee entrance, and a storage room. Off-street parking is available on the alley with a separate employee entrance. This location offers a turnkey opportunity to grow your business.
    Property Profile Location Intelligence

    Current Use by Public Records

    Communications Consulting Telecommunications Service

    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.

    Similar Places Nearby

    • Floral Defined LLC — 225 Elm St W, Norwood Young America, MN 55368

    Location Insight

    • Map
    • Local Demand
    City
    Norwood Young America
    County
    Hennepin
    State
    Minnesota
    Longitude
    -93.927562
    Latitude
    44.767662

    Nearby Similar for Sale

    • $284,700
      4,400 SF

      Historic Building in Downtown Norwood

      Two-story brick building with endless possibilities in downtown Norwood.
      224 Elm Street W, Norwood Young America, MN 55368
      View Details
    • $189,900
      2,480 SF

      Commercial Building with Parking Lot

      2,480 sq ft retail/office building with investment opportunity.
      510 Faxon N Road, Norwood Young America, MN 55368
      View Details

    FAQs

    What type of property is this?
    Storefront property - Affordable commercial space in downtown Norwood Young America, Minnesota.
    Where is this storefront property located?
    The property is located at 223 Elm Street W Norwood Young America, MN.
    What is the asking price?
    The asking price for this property is $149,900.
    What are key features of this property?
    This property features: Affordable commercial space in downtown Norwood Young America.; Wide open layout suitable for various businesses.; Brick front building with historical significance (former Post Office).
    (612) 414-3505
    We can help!
    Listing Contact
    Ken Haasken
    Ken Haasken
    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

    Thank You for Inquiry
    223 Elm Street W, Norwood Young America, MN 55368
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!