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    6319 Penn Ave Richfield, MN 55423

    Sponsored
    For Sale
    $500,000

    1,600 sq ft, 0.12-acre lot, $500,000

    Property size:
    1,600 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    338
    This exceptional commercial property, located at 6319 Penn Avenue South in Richfield, Minnesota, presents a unique investment opportunity. Boasting a generous 1,600 square feet of space situated on a sizable 0.12-acre lot, this property offers significant potential for a variety of commercial uses. The building's versatile layout allows for customization to suit diverse business needs. Its strategic location on Penn Avenue South provides excellent visibility and accessibility, ensuring high traffic flow and convenient access for customers and employees. Richfield's thriving business community and strong infrastructure further enhance the property's appeal. The asking price of $500,000 represents a compelling value for a property of this size and location in a desirable market. This is an ideal opportunity for entrepreneurs and investors seeking a well-positioned commercial space with significant growth potential. The property's size and location make it suitable for a range of businesses, from retail establishments to professional offices. Serious inquiries are encouraged to explore the possibilities this property offers. Detailed property information and specifications are available upon request. Don't miss this chance to acquire a prime commercial asset in a dynamic and growing area. Act quickly, as opportunities like this are rare.

    Property Features for 6319 Penn Ave

    General Information

    Property type
    Other commercial real estate
    Square Feet
    1,600 SF
    Lot Size
    5,227 SF

    Building Details

    Year Built
    1957
    Property Profile Location Intelligence

    Current Use by Public Records

    Vale-Typewriter Inc Typewriter Repair Service

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Richfield
    County
    Hennepin
    State
    Minnesota
    Longitude
    -93.30828
    Latitude
    44.88828

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    FAQs

    What type of property is this?
    Commercial real estate - 1,600 sq ft, 0.12-acre lot, $500,000
    Where is this commercial real estate located?
    The property is located at 6319 Penn Ave Richfield, MN.
    What is the asking price?
    The asking price for this property is $500,000.
    (952) 797-9999
    Request Owner's contact information
    6319 Penn Ave Richfield, MN 55423
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    Richfield, MN 55423
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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
    6319 Penn Ave Richfield, MN 55423
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