Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search

    23924 Minnesota Highway 22 Litchfield, MN 55355

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $649,900

    Commercial - Litchfield Twp, MN

    Lot size:
    5.00 Acres
    Added:
    Jul 21, 2025
    Days on Market:
    291
    Last Refresh:
    May 7 at 1:06 am

    Property Features for 23924 Minnesota Highway 22

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Residential-Multi-Family
    Parking features
    Driveway, Garage, Garage - Detached
    Exterior features
    Aluminum Siding
    Standard status
    Active
    APN
    140308000
    Lot size
    5.00 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    2568

    Utilities

    Heating system
    Forced Air

    Building Details

    Year built
    2004
    Architectural style
    Other

    We can help!

    Listing Contact
    Bryan Vant Hof
    Bryan Vant Hof

    Listing agent Bryan Vant Hof

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

    Listing date Jul 21, 2025

    MLS# 6758364 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

    • High Gross Monthly Income: Potential for over $7,500/month without changing existing rental terms.
    • Income‑Generating Mobile Units: Includes 6 park‑owned mobile units for rental income.
    • Expansion Potential: Septic system capacity allows for expansion on the south system.
    • Large Garage: Includes a large 3‑car garage for storage.
    • Well‑Maintained Park: This is a well‑maintained mobile home park.
    • Sizeable Lot: Sits on 5 acres with 12 designated lots.

    Overview

    Litchfield Twp Mobile Home Park

    Located just south of Litchfield near the airport, this well-maintained mobile home park offers great space on 5 acres. It features 12 designated lots. The park owns 6 of the mobile units on site for additional rental income, while the other 6 lots are leased to other mobile owners. The park-owned units include three 2-bed 1-bath units, one 3-bed 1-bath unit, and one 4-bed 2-bath unit. The property is served by two septic systems, each capable of supporting up to 8 homesites. Currently, the north system serves 8 homes, and the south system serves 4, indicating expansion potential for the south system. The monthly gross cash flow potential, without changing existing rental terms, is over $7,500 per month. The property also includes a large 3-car garage for on-site storage or conversion to additional rental income. This presents a great opportunity for a nicely maintained rural residential setting.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mobile home & RV ...

    Suggested Use

    Big Box & Wholesale Store Electronics & Wireless Store Travel Agency

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

    Location Insight

    • Map
    • Local Demand
    City
    Litchfield
    County
    Meeker
    State
    Minnesota
    Longitude
    -94.513143
    Latitude
    45.093292

    Nearby Similar for Sale

    • $1,500

      Restored Storefront in Downtown Litchfield

      Historic storefront with flexible space in downtown Litchfield, Minnesota.
      109 N Sibley Avenue, Litchfield, MN 55355
      View Details
    • $1,500

      Downtown Commercial Kitchen Opportunity

      Spacious, partially equipped commercial kitchen in downtown Litchfield, Minnesota.
      215 N Sibley Avenue, Litchfield, MN 55355
      View Details
    • $975

      Downtown Commercial Space for Sale

      Historic downtown commercial space ideal for retail or office.
      129 N Sibley Avenue, Litchfield, MN 55355
      View Details
    • $2,200

      Litchfield Office Space For Sale

      Mid-century modern office building on high-traffic Highway 12.
      105 E Depot Street, Litchfield, MN 55355
      View Details
    • $250,000

      Highway 12 Commercial Opportunity

      3.27 acre commercial parcel with high visibility on Highway 12.
      60395 US Highway 12, Litchfield Twp, MN 55355
      View Details
    • $1,400,000

      Established Printing Business For Sale

      Turnkey printing business with property for sale in Litchfield, MN.
      826 N Sibley Avenue, Litchfield, MN 55355
      View Details
    • $19,453,062

      Dollar General Portfolio For Sale

      Portfolio of 14 corporate-guaranteed Dollar General stores across seven states.
      701 N Sibley Ave, Litchfield, MN 55355
      View Details

    FAQs

    What type of property is this?
    Mobile home & RV park - Well-maintained mobile home park with income potential on 5 acres.
    Where is this mobile home & rv park located?
    The property is located at 23924 Minnesota Highway 22 Litchfield, MN.
    What is the asking price?
    The asking price for this property is $649,900.
    What are key features of this property?
    This property features: High Gross Monthly Income: Potential for over $7,500/month without changing existing rental terms.; Income‑Generating Mobile Units: Includes 6 park‑owned mobile units for rental income.; Expansion Potential: Septic system capacity allows for expansion on the south system.
    (612) 865-3158
    We can help!
    Listing Contact
    Bryan Vant Hof
    Bryan Vant Hof
    Real Estate License ID: 40264798
    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

    Thank You for Inquiry
    23924 Minnesota Highway 22, Litchfield Twp, MN 55355
    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!