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    The Largest CRE Database in the US with Over 1 Million Listings

    123 N Minnesota St New Ulm, MN 56073

    Sponsored
    For Sale
    $424,900

    Nice looking property in Downtown New Ulm, MN

    Property size:
    5,300 SF

    Property Features for 123 N Minnesota St

    General Information

    Property type
    Mixed-use properties
    Square Feet
    5,300 SF
    Elevators
    No
    Net Rentable
    5,300 SF
    Lot Size
    4,125 SF

    Building Details

    Year Built/Renovated
    1880/2015
    Buildings
    1
    Stories
    3

    Overview

    Downtown New Ulm Mixed-Use Property

    This three-story mixed-use property is located in downtown New Ulm, Minnesota. The building offers approximately 5300 square feet of space. The main floor, previously occupied by a bookstore and coffee shop until the owners' retirement at the end of 2025, provides over 1700 square feet of open space. A neat and clean basement is suitable for storage. The upper two floors, which served as the owners' residence for 28 years, can be maintained as a single unit or converted into two separate units.

    We can help!

    Listing Contact
    Jeffrey

    Learn more

    Property Insight Report
    Location Intelligence

    Current Use by Public Records

    Commercial real estate

    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
    New Ulm
    State
    Minnesota
    Longitude
    -94.4655141
    Latitude
    44.3201997

    Nearby Comparable

    • $156,900
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      New Ulm Duplex Investment

      Duplex in New Ulm, MN with tenant occupied units.
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      Downtown New Ulm Commercial Opportunity

      High-visibility commercial property in historic downtown New Ulm.
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      Commercial building available for sale or lease, divisible into two units.
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      New Ulm Apartment Building Investment

      12-unit apartment building with income and value-add potential.
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      New Ulm Pad Site Opportunity

      High-traffic commercial land for sale in New Ulm, MN.
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      New Ulm Retail Land Parcel

      1.24 acre commercial land parcel in retail corridor.
      1720 Westridge Rd, New Ulm, MN 56073
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      7.67 Acres

      New Ulm Industrial Land - 7.67 Acres

      Prime Industrial Land, Hwy 14 Access
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      Prime New Ulm Commercial Land

      Walmart Outlot, Land Lease Opportunity
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      New Ulm Mixed-Use Opportunity

      9,300 SF building in thriving New Ulm area.
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      7 SF

      New Ulm Land Opportunity

      7.67 acres of commercial land in New Ulm, MN.
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    Nearby Similar for Sale

    • $156,900
      1,567 SF

      New Ulm Duplex Investment

      Duplex in New Ulm, MN with tenant occupied units.
      623 N Broadway St, New Ulm, MN 56073
      View Details
    • $460,000
      Pending

      New Ulm Apartment Building Investment

      12-unit apartment building with income and value-add potential.
      209 S Minnesota St, New Ulm, MN 56073
      View Details
    • $179,000
      1.32 Acres

      New Ulm Industrial Site

      Industrial site with truck and cold storage near MN River.
      317 Water St N, New Ulm, MN 56085
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    • $310,000
      0.19 Acres

      Downtown New Ulm Commercial Opportunity

      High-visibility commercial property in historic downtown New Ulm.
      214 N Minnesota St, New Ulm, MN 56073
      View Details
    • $622,920
      9,300 SF

      New Ulm Mixed-Use Opportunity

      9,300 SF building in thriving New Ulm area.
      1618 S Broadway St, New Ulm, MN 56073
      View Details
    • $239,900

      Commercial Building For Sale/Lease

      Commercial building available for sale or lease, divisible into two units.
      1401 S Broadway St, New Ulm, MN 56073
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Nice looking property in Downtown New Ulm, MN
    Where is this mixed-use property located?
    The property is located at 123 N Minnesota St New Ulm, MN.
    What is the asking price?
    The asking price for this property is $424,900.
    (507) 276-2003
    Request Owner's contact information
    123 N Minnesota St New Ulm, MN 56073
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    New Ulm, MN 56073
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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.

    More about this property
    123 N Minnesota St New Ulm, MN 56073
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    We can help!
    Listing Contact
    Jeffrey
    (507) 276-2003
    Learn more
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