Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Vacant Office/Medical Space Available Title is generated by Realmo AI

    301 N 3rd St, Marshall, MN 56258

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $123,200

    Two suites available for sale, ready for renovations.

    Added:
    Nov 21, 2025
    Days on Market:
    172
    Last Refresh:
    Nov 13 at 8:09 am

    Property Features for 301 N 3rd St

    General Information

    Standard status
    Active

    Building Details

    Year Built
    1967

    We can help!

    Listing Contact
    John Russo

    Listing agent John Russo

    Listing office

    Listing date Nov 21, 2025

    Source Siouxfallscommercial

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

    All listing content including descriptions, pricing, images are the copyrighted material of John Russo

    HighLights

    • Two suites totaling 2,534 SF of vacant office/medical space.
    • Off‑street parking and monument sign included.
    • Ready for exterior and interior renovations, allowing customization.
    • Zoning B1 - limited business.
    • Partial basement area for storage.
    • Property will be sold vacant with all medical equipment removed.

    Overview

    This property features vacant office and medical space, comprising two suites measuring 1,354 square feet and 1,180 square feet respectively. It includes off-street parking and a monument sign. A partial basement area provides storage space. The property is zoned B1, limited business, and is ready for both exterior and interior renovations. The property will be sold vacant with all medical equipment removed.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Oral & Maxillofacial Surgery ... Medical Clinic

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Marshall
    County
    Lyon
    State
    Minnesota
    Longitude
    -95.787562
    Latitude
    44.449823

    Nearby Similar for Sale

    • $240,000

      Marshall Commercial Building with Parking

      Well-maintained commercial building with parking and high traffic exposure.
      800 W College Drive, Marshall, MN 56258
      View Details
    • $350,000
      5,120 SF

      Commercial Building with Office Spaces

      Large building with separate office spaces and ample parking.
      310 W West College Drive, Marshall, MN 56258
      View Details
    • $350,000

      Commercial Building with Office Spaces

      Commercial building featuring separate office spaces and ample parking.
      310 W West College Drive, Marshall, MN 56258
      View Details
    • $820,000
      4,963 SF

      Established Restaurant in Marshall, MN

      Long-standing restaurant with commercial kitchen and renovation potential.
      228 W Main Street, Marshall, MN 56258
      View Details
    • $1,500,000
      14,348 SF

      Mixed-Use Building with Freezer Space

      14,348 SF building with office, warehouse, and freezer space.
      1500 N Hwy 59, Marshall, MN
      View Details
    • $7,500,000
      104,000 SF

      Self Storage Portfolio For Sale

      Three-location self-storage portfolio in southwest Minnesota with 628 units.
      1410 S Saratoga St, Marshall, MN 56258
      View Details
    • $150,000
      5 SF

      Agricultural Building on Two Acres

      5,000 SF pole barn on 2 acres in Marshall, MN.
      300 E Erie Rd Marshall, MN 56258, MN 56258
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - Two suites available for sale, ready for renovations.
    Where is this medical office space located?
    The property is located at 301 N 3rd St Marshall, MN.
    What is the asking price?
    The asking price for this property is $123,200.
    What are key features of this property?
    This property features: Two suites totaling 2,534 SF of vacant office/medical space.; Off‑street parking and monument sign included.; Ready for exterior and interior renovations, allowing customization.
    (605) 906-0394
    We can help!
    Listing Contact
    John Russo
    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
    301 N 3rd St, Marshall, MN 56258
    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!