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    Versatile Commercial Building in Chisholm Title is generated by Realmo AI

    126 Iron Drive E, Chisholm, MN 55719

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    For Sale
    $649,000

    COMMERCIAL - Chisholm, MN

    Property size:
    5,200 SF
    Price / SF:
    $124/SF
    Added:
    Mar 9, 2026
    Days on Market:
    79
    Last Refresh:
    May 26 at 4:06 pm

    Property Features for 126 Iron Drive E

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Comm
    Standard status
    Active
    Size
    5,200 SF

    Utilities

    Heating system
    Natural Gas, Electric (Heating)

    Building Details

    Year built
    2022
    Building materials
    Steel Frame, Pole Bldg
    Roof type
    Metal

    We can help!

    Listing Contact
    Andy Zahorsky

    Listing agent Andy Zahorsky

    Listing office Mirabella Realty 2832 1st Ave, Hibbing, MN

    Listing date Mar 9, 2026

    MLS# 149324

    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

    • Newer construction (2022) commercial building with approximately 5,200 sq ft of versatile space.
    • Convenient location right off Hwy 169 in Chisholm.
    • Includes both office space (two levels, private offices, open work areas, kitchens) and a large garage/shop space.
    • Upper unit features a full kitchen and shower; lower unit offers a kitchen and dedicated laundry area.
    • Suitable for a variety of business types, including service businesses, contractors, or operations needing office and shop space.
    • On‑site parking and easy access to the commercial/industrial corridor.

    Overview

    This newer commercial building offers approximately 5,200 sq ft of versatile space in a convenient location off Hwy 169 in Chisholm, MN. The property features two office levels, each with two private offices and open work areas. The upper unit includes a full kitchen and shower, while the lower unit offers a kitchen and a dedicated laundry area, providing practical setups for a variety of business types. A large garage/shop space adds valuable room for equipment, vehicles, or light commercial use. With modern construction, on-site parking, and easy access to the commercial/industrial corridor, this property is well suited for service businesses, contractors, or operations needing both office and shop space under one roof.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Chisholm
    County
    St. Louis
    State
    Minnesota
    Longitude
    -92.875273
    Latitude
    47.48083

    Nearby Similar for Sale

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      2,000 SF

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      View Details
    • $54,000
      1,825 SF

      Chisholm Commercial Space with Character

      Former neighborhood bar with exposed brick and historic charm.
      19 Lake St W, Chisholm, MN 55719
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - 5,200 sq ft commercial space with office and shop.
    Where is this mixed-use property located?
    The property is located at 126 Iron Drive E Chisholm, MN.
    What is the asking price?
    The asking price for this property is $649,000.
    What are key features of this property?
    This property features: Newer construction (2022) commercial building with approximately 5,200 sq ft of versatile space.; Convenient location right off Hwy 169 in Chisholm.; Includes both office space (two levels, private offices, open work areas, kitchens) and a large garage/shop space.
    (218) 966-2650
    We can help!
    Listing Contact
    Andy Zahorsky
    Request Owner's contact information
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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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