Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    524 Clover Ct Lake City, MN 55041

    Sponsored
    Picture of Residential land & home lots at Clover Ct 524, Lake City, MN
    For Sale
    Contact for pricing

    Lots & Land - Lake City, MN

    Lot size:
    0.34 Acres
    Days on Market:
    289
    Last Refresh:
    Jan 31 at 4:06 pm

    Property Features for 524 Clover Ct

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Residential-Single Family
    APN
    R220207300
    Lot size
    0.34 Acres

    Taxes and HOA fees

    Expense value
    110
    Expense
    Home Owner Assessments Fee
    Expense freq.
    Annually

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Diane Schurhammer
    Diane Schurhammer

    Meincke-Schurhammer Real Estate, LLC (651) 345-5667

    Listing agent Diane Schurhammer (651) 345-2171

    Listing date Apr 18, 2025

    MLS# 6705973 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.

    Learn more

    Property Insight Report

    Overview

    Residential Lot in Jewel Golf

    This 0.34-acre residential lot is located in Lake City, MN, within the Jewel Golf Course. The flat lot is suitable for building a home on a slab. Prospective buyers have the option to select their own builder. Situated in a cul-de-sac, the property offers views of the surrounding bluffs. The site is equipped with city water and sewer services, and features paved streets. The zoning is Residential-Single Family.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Lake City
    County
    Wabasha
    State
    Minnesota
    Longitude
    -92.29945
    Latitude
    44.445119

    Nearby Similar for Sale

    • $599,000
      0.29 Acres

      Turnkey Investment Opportunity Near Lake Pepin

      High-income investment property near Lake Pepin with multiple revenue streams.
      70984 Highway 61, Lake City, MN 55041
      View Details
    • $395,000
      0.07 Acres

      Lake City Landmark For Sale

      Well-maintained commercial building in downtown Lake City, Minnesota.
      100 S Washington St, Lake City, MN 55041
      View Details
    • $285,000
      2,010 SF

      Income-Producing Duplex with Recent Updates

      Updated duplex with short-term rental history and flexible living options.
      311 N Prairie St, Lake City, MN 55041
      View Details
    • $1,500,000
      18,000 SF

      Well-Built Commercial Property For Sale

      Commercial property with income potential in Lake City, Minnesota.
      1215 N 7Th St, Lake City, MN 55041
      View Details
    • $464,900
      1,513 SF

      Condo with Lake Pepin Views

      Immaculate condo with lake views, downtown location, and great amenities.
      101 S Washington St, Lake City, MN 55041
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Building site in Jewel Golf Course with bluff views.
    Where is this residential land & home lot located?
    The property is located at 524 Clover Ct Lake City, MN.
    What is the asking price?
    The asking price for this property is $22,500.
    What are key features of this property?
    This property features: - Flat lot ideal for slab construction, simplifying the building process.; - Located within the Jewel Golf Course community.; - Freedom to choose your own builder.
    (507) 251-1666
    Request Owner's contact information
    524 Clover Ct Lake City, MN 55041
    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.
    524 Clover Ct
    Lake City, MN 55041
    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
    524 Clover Ct Lake City, MN 55041
    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

    We can help!
    Listing Contact
    Diane Schurhammer
    Diane Schurhammer
    (507) 251-1666
    Learn more
    Google sign-in failed. Please try again or use another login method.