Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    161st Ave NW & Round Lake Blvd Andover, MN

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Land with excellent visibility at a high-traffic intersection.

    Type:LAND
    Lot size:
    1.53 Acres
    Added:
    Jun 17, 2024
    Days on Market:
    681
    Last Refresh:
    Apr 5 at 8:46 pm

    Property Features for 161st Ave NW & Round Lake Blvd

    General Information

    Standard status
    Active
    Lot size
    1.53 Acres
    Property subtype
    LAND

    We can help!

    Listing Contact
    Russ McGinty

    Listing agent Russ McGinty

    Listing office North Central Commercial Real Estate

    Listing date Jun 17, 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 North Central Commercial Real Estate

    Overview

    Land at High-Traffic Intersection

    This property is located at the northeast quadrant of 161st Avenue NW and Round Lake Boulevard. The land area is approximately 115,870 square feet, which is equivalent to 2.66 acres. It has full movement access at the intersection of 161st Street NW and Round Lake Boulevard. The property benefits from excellent visibility on both 161st Avenue NW and Round Lake Boulevard NW. Traffic counts from 2022 show 7,339 vehicles per day on 161st NW and 13,360 vehicles per day on Round Lake Boulevard.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Andover
    County
    Anoka
    State
    Minnesota
    Longitude
    -93.2913
    Latitude
    45.2333

    Nearby Similar for Sale

    • $350,000

      Andover Land Parcel For Sale

      Private 6-acre parcel in Andover, great opportunity to build.
      4276 165th Avenue NW, Andover, MN 55304
      View Details
    • $225,000

      Andover Land with Development Potential

      15.5 acres of versatile land in a desirable location.
      16115 N Enchanted Drive NW, Andover, MN 55304
      View Details
    • $245,000

      Residential Lots with Lake Access

      Exclusive residential lots with boat slips on Crooked Lake.
      13638 Gladiola Street NW, Andover, MN 55304
      View Details
    • $225,000

      Lakeview Lots on Crooked Lake

      Exclusive development with boat slips on Crooked Lake in Andover.
      13652 Gladiola Street NW, Andover, MN 55304
      View Details
    • $290,000

      Residential Land in Ham Lake

      3.14 acres in Schwartz Estates, near Coon Lake.
      4068 155th Avenue NE, Andover, MN 55304
      View Details
    • $171,905

      Spacious Acreage Lots in Andover

      Acreage lots for executive homes in premier Andover neighborhood.
      16622 Oneida Street NW, Andover, MN 55304
      View Details
    • $195,000

      Acreage in Andover School District

      New residential development with acreage in Andover, Minnesota.
      16704 Sycamore Street NW, Andover, MN 55304
      View Details
    • $199,000

      Acreage in Andover School District

      Residential lots and land in new Andover development.
      16878 Sycamore Street NW, Andover, MN 55304
      View Details
    • $210,000

      Acreage in Andover School District

      Residential lots and land in Andover, Minnesota.
      16781 Sycamore Street NW, Andover, MN 55304
      View Details
    • $205,000

      Acreage in Andover School District

      Residential lots in new Andover development, custom home options.
      16871 Sycamore Street NW, Andover, MN 55304
      View Details
    • Contact for pricing
      51,200 SF

      Andover Industrial Building For Sale

      51,200 SF industrial building on 8.30 acres in Andover.
      1671 139th Lane Northwest, Andover, MN, 55304
      View Details
    • $5,219,128
      13,600 SF

      Class A Office Building Andover

      Single tenant office building in a growing Minnesota community.
      2677 Bunker Lake Blvd NW, Andover, MN
      View Details

    FAQs

    What type of property is this?
    Commercial land - Land with excellent visibility at a high-traffic intersection.
    Where is this commercial land located?
    The property is located at 161st Ave NW & Round Lake Blvd Andover, MN.
    What is the asking price?
    The asking price for this property is $533,174.
    What are key features of this property?
    This property features: Full movement intersection access at 161st NW and Round Lake Blvd; High visibility on 161st Ave NW and Round Lake Blvd NW; Large land area: **2.66 acres (115,870 sq. ft.)**
    (612) 619-9611 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Russ McGinty
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!