Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Freestanding Building Near Highway 60 Title is generated by Realmo AI

    1233 Hwy 60, Faribault, MN

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Free-standing building off Lyndale Avenue and Highway 60 in Faribault.

    Type:OFFICE
    Property size:
    5,625 SF
    Lot size:
    0.72 Acres
    Added:
    Apr 3, 2024
    Days on Market:
    793
    Last Refresh:
    May 19 at 9:33 pm

    Property Features for 1233 Hwy 60

    General Information

    Standard status
    Active
    Size
    5,625 SF
    Lot size
    0.72 Acres
    Property subtype
    OFFICE

    We can help!

    Listing Contact
    Mike Doyle
    Mike Doyle

    Listing agent Mike Doyle

    Listing office Kenwood Commercial

    Listing date Apr 3, 2024

    Source Moodyscre

    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 Kenwood Commercial

    HighLights

    • 15‑year triple net investment sale
    • Free‑standing building
    • Located off Lyndale Avenue and Highway 60 in Faribault
    • Current tenant is Brighton Hospice
    • Brighton Hospice has multiple locations in several states, including Minnesota

    Overview

    The property at 1233 Highway 60 is a free-standing building located just off Lyndale Avenue and Highway 60 in Faribault, Minnesota. The building has a property size of 5625 square feet. The current owner/tenant, Brighton Hospice, has locations in several states, including two locations in Minnesota. This is a 15-year triple net investment sale.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Faribault
    County
    Rice
    State
    Minnesota
    Longitude
    -93.2879
    Latitude
    44.294

    Nearby Similar for Sale

    • $525,000

      Faribault Multifamily Investment Opportunity

      Seven-unit property with income potential and historic charm in Faribault.
      226 7th Street NW, Faribault, MN 55021
      View Details
    • $525,000

      Mixed-Use Investment Opportunity in Faribault

      Mixed-use property in downtown Faribault, near Twin Cities.
      301 Central, Faribault, MN 55021
      View Details
    • $319,000

      Mixed-Use Building in Downtown Faribault

      Prime mixed-use property in up-and-coming downtown Faribault, Minnesota.
      12 3rd Street NE, Faribault, MN 55021
      View Details
    • $850,000

      Downtown Faribault Office Building Investment

      High-visibility office building in historic downtown Faribault, Minnesota.
      118 1st Ave Ne, Faribault, MN
      View Details
    • $299,000

      Iconic Corner Building on Central Avenue

      Historic downtown building with retail and residential potential.
      329 Central Avenue N, Faribault, MN 55021
      View Details
    • $260,000

      Iconic Downtown Building: Blank Slate

      Historic downtown building with storefront and residential income potential.
      313 Central Avenue N, Faribault, MN 55021
      View Details
    • $549,900

      Historic Commercial Building in Faribault

      Historic 11,000+ sq ft commercial building near downtown Faribault, MN.
      222 3rd Avenue NW, Faribault, MN 55021
      View Details
    • $5
      88,003 SF

      Prime Office, Retail, Flex Space

      Up to 23,000 SF of flexible commercial space available.
      201 Lyndale S Avenue, Faribault, MN 55021
      View Details
    • $549,900
      11,000 SF

      Historic Faribault Commercial Building

      Historic 11,000+ sq ft building near downtown Faribault, MN.
      222 3rd NW Avenue, Faribault, MN 55021
      View Details
    • $4
      30,000 SF

      Faribault Warehouse with Office Space

      Warehouse space with loading docks and office in Faribault.
      128 15th St, Faribault, MN 55021
      View Details
    • $1,600,000
      5,625 SF

      Free-Standing Building on Highway 60

      Free-standing building off Lyndale Avenue and Highway 60.
      1233 MN-60, Faribault, MN 55021
      View Details

    FAQs

    What type of property is this?
    Office building - Free-standing building off Lyndale Avenue and Highway 60 in Faribault.
    Where is this office building located?
    The property is located at 1233 Hwy 60 Faribault, MN.
    What are key features of this property?
    This property features: 15‑year triple net investment sale; Free‑standing building; Located off Lyndale Avenue and Highway 60 in Faribault
    (612) 242-8820 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Mike Doyle
    Mike Doyle
    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
    1233 Hwy 60, Faribault, MN
    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!