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

    416 N 1st Street Montevideo, MN 56265

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Commercial - Montevideo, MN

    Lot size:
    0.28 Acres
    Added:
    Nov 19, 2024
    Days on Market:
    526
    Last Refresh:
    Apr 29 at 7:06 am

    Property Features for 416 N 1st Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Business/Commercial
    Parking features
    Driveway, Parking Lot, Paved or Surfaced
    Exterior features
    Brick/Stone
    Standard status
    Active
    APN
    703751470
    Lot size
    0.28 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    3242

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1979
    Flooring type
    Carpet
    Building materials
    Brick
    Architectural style
    Other

    We can help!

    Listing Contact
    Joleen Marczak

    Listing agent Joleen Marczak

    Listing office Weichert,Realtors-Tower Properties 17122 State Hwy 371, Brainerd, MN

    Listing date Nov 19, 2024

    MLS# 6632579 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

    Downtown Montevideo Office Building

    Located in Montevideo's historical downtown, this 3,500 square foot office building has three rooms, each approximately 200 square feet, available for lease. A tenant or business can rent one or all three rooms. All utilities, including gas, electric, water, trash, and non-secure internet, are included in the cost of rent. Each office features new, freshly painted walls, updated lighting, and carpet flooring. Tenants will share a common waiting area and have access to two bathrooms. Rent is determined by the number of rooms rented and the lease term, with a minimum lease term of one year. The property is zoned for business and commercial use and is situated on a lot of 0.283 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office Units

    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.

    Location Insight

    • Map
    • Local Demand
    City
    Montevideo
    County
    Chippewa
    State
    Minnesota
    Longitude
    -95.724949
    Latitude
    44.948847

    Nearby Similar for Sale

    • $899,900

      Multifamily Property with Historic Charm

      Well-maintained 9-unit multifamily property with historic charm and modern updates.
      215 S 5th Street, Montevideo, MN 56265
      View Details
    • $924,900
      8,619 SF

      Montevideo Multifamily Investment Opportunity

      Nine-unit multifamily property in Montevideo's stable rental market.
      215 S 5th St, Montevideo, MN 56265
      View Details
    • $325
      3,584 SF

      Downtown Montevideo Office Building

      3,500 SF office building in Montevideo's historical downtown.
      416 N 1st Street, Montevideo, MN 56265
      View Details
    • $499,000
      5,800 SF

      Montevideo Residential Income Property

      5,800 SF residential income property in Montevideo, Minnesota.
      1806 Lincoln Ave, Montevideo, MN 56265
      View Details

    FAQs

    What type of property is this?
    Office units - 3500 SF office building in Montevideo's historical downtown.
    Where is this office units located?
    The property is located at 416 N 1st Street Montevideo, MN.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Flexible office space: Rent one, two, or all three available rooms.; All utilities included (gas, electric, water, trash, non‑secure internet).; Newly renovated office spaces with fresh paint, updated lighting, and carpet.
    (218) 825-7787
    We can help!
    Listing Contact
    Joleen Marczak
    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!