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    400 Broadway Avenue N Foley, MN 56329

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    For Sale
    $449,900

    Commercial - Foley, MN

    Property size:
    3,168 SF
    Lot size:
    0.21 Acres
    Added:
    Jan 22, 2026
    Days on Market:
    96
    Last Refresh:
    Apr 28 at 5:06 pm

    Property Features for 400 Broadway Avenue N

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Business/Commercial
    Exterior features
    Brick/Stone, Metal, Steel Siding
    Standard status
    Active
    APN
    130052300
    Size
    3,168 SF
    Lot size
    0.21 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Annual Amount
    8046

    Utilities

    Heating system
    Forced Air, Zoned (Heating)
    Cooling system
    Central Air, Zoned

    Building Details

    Year built
    1970
    Flooring type
    Carpet
    Building materials
    Brick
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Timothy Schmidt

    Listing agent Timothy Schmidt

    Listing office New Century Real Estate 7633 15th Ave NE, SAUK RAPIDS, MN

    Listing date Jan 22, 2026

    MLS# 7012553 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

    Foley Commercial Office Building

    Located in the heart of Foley, Minnesota, this 3,168 square foot commercial office building is divided into two primary units, offering flexibility for investors, owner-users, or future redevelopment. Half of the building is secured by a long-term lease. The other half is occupied by two professional office tenants with leases in place through 2026. Six other office spaces are vacant, providing an immediate opportunity for lease-up, expansion, or creative reconfiguration. The structure is solid with brick, steel, and zoned heating and air with central systems. Positioned on a highly visible corner lot along Hwy 23, the main artery through Foley, it benefits from daily traffic and strong sightlines. The property is located on 0.206 acres. With sewer and water now connected to St. Cloud, the city has entered a new season of growth, marked with new construction, renewed confidence, and accelerated demand. This property is zoned for business and commercial use.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    New Frontier Services, ... Marketing & Advertising Journey Through Mental ... Crisis Center

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Foley
    County
    Benton
    State
    Minnesota
    Longitude
    -93.911477
    Latitude
    45.667222

    Nearby Similar for Sale

    • $590,000

      Foley Commercial Building on Highway

      13,200 sq ft commercial building on 1.29 acres.
      1061 Highway 23, Foley, MN 56329
      View Details
    • $300,000

      Versatile Acreage with Storage Buildings

      Acreage with heated and cold-storage buildings, potential build site.
      9559 55th Avenue NE, Mayhew Lake Twp, MN 56329
      View Details
    • $529,000

      Former Bar & Grill Opportunity

      Unique business and residential opportunity on 5 acres.
      16523 NE 165th Street, Foley, MN 56329
      View Details

    FAQs

    What type of property is this?
    Office building - Well-recognized office building in the heart of Foley, Minnesota.
    Where is this office building located?
    The property is located at 400 Broadway Avenue N Foley, MN.
    What is the asking price?
    The asking price for this property is $449,900.
    What are key features of this property?
    This property features: High‑visibility corner lot location on Hwy 23, the main thoroughfare in Foley.; Solid brick and steel construction with zoned heating and air.; Divided into two primary units, offering flexibility for investors or owner‑users.
    (320) 492-3420
    We can help!
    Listing Contact
    Timothy Schmidt
    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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