Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Aitkin Industrial City Lot Title is generated by Realmo AI

    510 Bunker Hill Drive, Aitkin, MN 56431

    View on Map
    Claim this Listing
    For Sale
    Under Contract
    $99,000

    Lots & Land - Aitkin, MN

    Lot size:
    3.51 Acres
    Added:
    Sep 29, 2025
    Days on Market:
    235
    Last Refresh:
    May 21 at 10:06 am

    Property Features for 510 Bunker Hill Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Industrial
    Standard status
    Active Under Contract
    APN
    561179201
    Lot size
    3.51 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    0

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Anthony Blake

    Listing agent Anthony Blake

    Listing office RE/MAX Results 11200 W 78th Street, Eden Prairie, MN

    Listing date Sep 29, 2025

    MLS# 6796373 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

    • Large 3.5 acre industrial city lot.
    • All city utilities available.
    • Open and cleared ground.
    • Good access via public paved roads.
    • Well maintained roads.
    • Convenient location near downtown and amenities.

    Overview

    This 3.51-acre industrial city lot is situated on well-maintained public paved roads, providing good access. The open and cleared ground is equipped with all city utilities. Its location offers convenient access to amenities and is within minutes of downtown Aitkin, Minnesota.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Industrial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Aitkin
    County
    Aitkin
    State
    Minnesota
    Longitude
    -93.692139
    Latitude
    46.531834

    Nearby Similar for Sale

    • $84,900

      Land for Recreation and Development

      Versatile land parcels near Cuyuna Lakes, ideal for recreation.
      Tract E County Road 30, Rabbit Lake Twp, MN 56431
      View Details
    • $174,900

      Fleming Lake Shoreline Lot

      Exceptional 0.73-acre shoreline lot on Fleming Lake.
      30586 422nd Lane, Fleming Twp, MN 56431
      View Details
    • $129,000

      Aitkin Lakeshore Parcel For Sale

      1.153-acre lakeshore property with 150 feet of private shoreline.
      42474 310th Place, Aitkin, MN 56431
      View Details
    • $59,000

      Sherwood Forest Campground Lots

      Two lots with furnished trailer and guest house in campground.
      N3-6 & N3-5 Sherwood Forest, Hazelton Twp, MN 56431
      View Details
    • $207,000

      Wooded Land with Lake Access

      Nearly 20-acre wooded parcel with deeded lake access.
      36599 Dove, Nordland Twp, MN 56431
      View Details
    • $49,900

      Wooded Lot Near MilleLacs Lake

      Private 3.921-acre wooded lot near MilleLacs Lake.
      Tbd 250th Street, Aitkin, MN 56431
      View Details
    • $217,500

      20+ Acre Building Site

      20+ acre building site with lake access near Aitkin.
      36599 Dove Street, Nordland Twp, MN 56431
      View Details
    • $219,900

      Birch Lake 4.63-Acre Lot

      4.63-acre lot on Birch Lake ready for summer plans!
      Lot 2 & 12 242nd Lane, Hazelton Twp, MN 56431
      View Details
    • $73,900

      Land with Birch Lake Access

      3.4-acre lot with deeded access to Birch Lake.
      Lot 7 242nd Lane, Hazelton Twp, MN 56431
      View Details
    • $73,900

      Hazelton Twp Land with Lake Access

      2.54-acre lot with deeded access to Birch Lake.
      Lot 5 242nd Lane, Hazelton Twp, MN 56431
      View Details
    • $69,900

      Land with Lake Access

      2.34 acre lot with deeded lake access.
      Lots B & C 389th Ave., Nordland Twp, MN 56431
      View Details
    • $79,900

      Land for Recreational Development

      Versatile land parcels near Cuyuna Lakes, ideal for recreation.
      Tract B County Road 30, Rabbit Lake Twp, MN 56431
      View Details

    FAQs

    What type of property is this?
    Industrial land - 3.5 acre industrial city lot with utilities and good access.
    Where is this industrial land located?
    The property is located at 510 Bunker Hill Drive Aitkin, MN.
    What is the asking price?
    The asking price for this property is $99,000.
    What are key features of this property?
    This property features: Large 3.5 acre industrial city lot.; All city utilities available.; Open and cleared ground.
    (651) 734-5385
    We can help!
    Listing Contact
    Anthony Blake
    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
    510 Bunker Hill Drive, Aitkin, MN 56431
    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!