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    5241 Miller Trunk Hwy Hermantown, MN 55811

    Sponsored
    For Sale
    $1,200,000

    Four Acres, Hwy 53 Frontage, High Traffic

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    338
    This exceptional 4-acre commercial property presents a unique investment opportunity in the thriving Hermantown, MN market. Strategically located on a corner lot of the heavily trafficked Miller Trunk Highway (Hwy 53), this site boasts unparalleled visibility and accessibility. The high, usable land offers ample space for new construction, expansion, or redevelopment, catering to a wide range of commercial ventures. Existing buildings on the site offer potential for immediate cash flow, providing a solid foundation for your business plans. The property is zoned for general commercial use and benefits from readily available utilities. Its prime location ensures maximum exposure to thousands of vehicles daily, making it ideal for businesses seeking high foot traffic and brand recognition. This is a rare chance to acquire a substantial commercial parcel in a prime location with significant development potential and immediate income possibilities. The property's size and location make it suitable for a variety of commercial uses, from retail and restaurants to office spaces and light industrial businesses. Don't miss this opportunity to establish your business in a high-growth area with exceptional visibility and infrastructure. The existing structures provide a unique advantage, allowing for immediate revenue generation while long-term development plans are implemented.

    Property Features for 5241 Miller Trunk Hwy

    General Information

    Property type
    Other commercial real estate
    Lot Size
    174,240 SF

    Building Details

    Year Built
    1970
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Spa & Massage Building Supply Dental Office Hair Salon Auto Repair Shop Clothing Store Hotel & Motel Pharmacy Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Hermantown
    County
    St. Louis County
    State
    Minnesota
    Longitude
    -92.23296
    Latitude
    46.8371

    Nearby Comparable

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    • $499,000
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      High-Traffic Hermantown Commercial Site

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    FAQs

    What type of property is this?
    Commercial real estate - Four Acres, Hwy 53 Frontage, High Traffic
    Where is this commercial real estate located?
    The property is located at 5241 Miller Trunk Hwy Hermantown, MN.
    What is the asking price?
    The asking price for this property is $1,200,000.
    (218) 728-5161
    Request Owner's contact information
    5241 Miller Trunk Hwy Hermantown, MN 55811
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    Hermantown, MN 55811
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    Realmo Value Estimation

    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.

    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.

    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
    5241 Miller Trunk Hwy Hermantown, MN 55811
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