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

    5468 Miller Trunk Hwy Hermantown, MN 55811

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $499,000

    6.49 Acres, High Traffic, Hwy 53 Frontage

    Property Features for 5468 Miller Trunk Hwy

    General Information

    Property type
    Other commercial real estate
    Lot Size
    282,704 SF

    Building Details

    Year Built
    1992

    We can help!

    Listing Contact
    Jolynn Cooper

    Listing Agency: Adolphson Real Estate, Inc Listing Agent: Jolynn Cooper

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional 6.49-acre commercial parcel presents a prime opportunity for discerning investors and business owners. Strategically located on Highway 53 in Hermantown, Minnesota, this property boasts unparalleled visibility and accessibility, with a daily traffic count exceeding 25,000 vehicles. The elevated terrain ensures excellent sightlines and prominence. Two convenient access driveways are already in place, simplifying development and operational logistics. The property currently utilizes a well water system, while city services are readily available at the roadside. A septic system will need to be installed by the future owner. This expansive lot offers significant potential for a wide range of commercial ventures, capitalizing on its high-traffic location and substantial acreage. The possibilities are vast, from retail establishments and restaurants to light industrial uses and more. Its prime location and existing infrastructure make this a truly exceptional opportunity to establish a thriving business in a high-growth area. Don't miss this chance to secure a prominent position on one of the region's busiest thoroughfares. Contact us today to explore the potential of this remarkable property.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Spa & Massage Center Big Box & Wholesale Store Building Supply Hair Salon Auto Parts Store Auto Repair Shop HVAC Service Cafe & Coffee Shop Garden Center

    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
    -92.25455
    Latitude
    46.84177

    Nearby Similar for Sale

    • $57,900
      0.93 Acres

      Hermantown Residential Opportunity

      Residential property for sale in Hermantown, Minnesota.
      3920 Old Midway Rd, Hermantown, MN 55811
      View Details
    • $895,000
      14,130 SF

      Hermantown Commercial Investment Opportunity

      Commercial property on 6.92 acres with multiple spaces.
      5547 Highway 2, Hermantown, MN 55810
      View Details
    • Contact for pricing
      31,746 SF

      Versatile Property in Prime Location

      Expansive property suitable for retail, warehouse, or mixed-use businesses.
      4355 Stebner Rd, Hermantown, MN 55811
      View Details
    • $299,900
      1 SF

      Hermantown Commercial Acre Lot

      Prime 1-acre commercial lot, expansion potential.
      4876 Arrowhead Rd, Hermantown, MN 55811
      View Details
    • $249,000
      1,294 SF

      High-Traffic Hermantown Commercial Site

      Prime location, high visibility, multiple uses.
      5480 Miller Trunk Hwy, Hermantown, MN 55811
      View Details
    • $1,200,000
      4.00 Acres

      High-Visibility Commercial Land, Hermantown

      Four Acres, Hwy 53 Frontage, High Traffic
      5241 Miller Trunk Hwy, Hermantown, MN 55811
      View Details

    FAQs

    What type of property is this?
    Commercial real estate - 6.49 Acres, High Traffic, Hwy 53 Frontage
    Where is this commercial real estate located?
    The property is located at 5468 Miller Trunk Hwy Hermantown, MN.
    What is the asking price?
    The asking price for this property is $499,000.
    (218) 722-8736
    Request Owner's contact information
    5468 Miller Trunk Hwy Hermantown, MN 55811
    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.
    5468 Miller Trunk Hwy
    Hermantown, MN 55811
    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
    5468 Miller Trunk Hwy Hermantown, MN 55811
    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
    Jolynn Cooper
    (218) 722-8736
    Learn more
    Google sign-in failed. Please try again or use another login method.