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    Versatile Distribution and Flex Building Title is generated by Realmo AI

    1206 E 25th St, Hibbing, MN 55746

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    Claim this Listing
    New
    For Sale
    $398,500

    COMMERCIAL - Hibbing, MN

    Added:
    Jun 1, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 3 at 2:06 am

    Property Features for 1206 E 25th St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    COM
    Standard status
    Active

    Utilities

    Heating system
    Natural Gas, Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1969
    Building materials
    Concrete
    Roof type
    Rubber

    We can help!

    Listing Contact
    Norma Jean Jofs
    Norma Jean Jofs

    Listing agent Norma Jean Jofs License #40713911

    Listing office Next Door Realty 112 Main St N, Aurora, MN

    Listing date Jun 1, 2026

    MLS# 150057

    Copyright © 2026 Range Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 59,000 SF commercial building in Hibbing, MN
    • Built in 1969 with concrete construction
    • Loading docks for shipping and receiving
    • Includes dedicated office space
    • Central air cooling with natural gas forced‑air heating
    • On‑site parking lot and rubber roof; listed price $389,000

    Overview

    This versatile commercial building offers flexible configuration options for retail, warehouse, or light industrial operations. The property includes dedicated office space alongside open areas suited to distribution and day-to-day logistics. Loading docks support efficient shipping and receiving, and the on-site layout is designed to accommodate a mix of business needs within a single structure. A large parking lot provides convenient access for employees, customers, and fleet vehicles.

    Located in Hibbing, Minnesota at 1206 E 25th St, the property sits in a COM-zoned setting. Its size and functionality make it a straightforward option for operators seeking an existing commercial footprint that can be adapted to evolving use requirements, including combined retail and industrial-style functions.

    For buyers looking for an adaptable asset, this building supports multiple operating models, from distribution-focused activity to light industrial and retail uses. The combination of loading access, office space, and configurable interior areas can help reduce the time needed to align the facility with tenant or operator requirements. If you want a single property that can serve more than one purpose, this flex-style commercial offering is worth a close look.
    Property Profile Location Intelligence

    Current Use by Public Records

    Sullivan Candy and Supply, ... Big Box & Wholesale Store

    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
    Hibbing
    County
    St. Louis
    State
    Minnesota
    Longitude
    -92.927129
    Latitude
    47.419717

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    FAQs

    What type of property is this?
    Flex space - A large commercial building with loading docks, office space, and flexible layout for retail, warehouse, or light industrial use.
    Where is this flex space located?
    The property is located at 1206 E 25th St Hibbing, MN.
    What is the asking price?
    The asking price for this property is $398,500.
    What are key features of this property?
    This property features: 59,000 SF commercial building in Hibbing, MN; Built in 1969 with concrete construction; Loading docks for shipping and receiving
    (218) 780-2860
    We can help!
    Listing Contact
    Norma Jean Jofs
    Norma Jean Jofs
    Real Estate License ID: 40713911
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    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.

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