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    Northfield Commercial Garage Condo Title is generated by Realmo AI

    1373 Armstrong Road, Northfield, MN 55057

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    For Sale
    $236,000

    Commercial - Northfield, MN

    Lot size:
    0.03 Acres
    Added:
    Aug 30, 2025
    Days on Market:
    277
    Last Refresh:
    Jun 2 at 9:06 pm

    Property Features for 1373 Armstrong Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Business/Commercial,Industrial
    Parking features
    Parking Lot
    Exterior features
    Brick Veneer, Metal
    Standard status
    Active
    APN
    2201228003
    Lot size
    0.03 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    0

    Utilities

    Heating system
    Space Heater

    Building Details

    Year built
    2025
    Flooring type
    Concrete
    Building materials
    Concrete, Frame
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Chris Viscomi

    Listing agent Chris Viscomi

    Listing office eXp Realty 4525 White Bear Parkway, White Bear Lake, MN

    Listing date Aug 30, 2025

    MLS# 6773333 Listing URL

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

    HighLights

    • Move‑in ready commercial garage condo suitable for business or personal use.
    • Newly constructed unit with 200 Amp electrical service, floor drains, and natural gas heater.
    • 18‑foot ceilings and a large 12' x 14' garage door for excellent clearance and access.
    • Soft‑plumbed for a bathroom.
    • Custom add‑ons available, including mezzanine slots for future build‑out.
    • Located in Northfield’s growing industrial corridor.

    Overview

    This newly constructed commercial garage condo is located in Northfield’s growing industrial corridor. Built for both business and personal use, the unit offers 200 Amp electrical service, floor drains, and a natural gas heater. It is also soft-plumbed for a bathroom. The property features 18-foot ceilings and a large 12' x 14' garage door for clearance and access. The builder provides custom add-ons, including mezzanine slots for future build-out, allowing customization of the space. The property is zoned for Business/Commercial and Industrial use. The lot size is 0.031 acres. Property Taxes are pending, with the final amount to be determined by Rice County based on use. The property shares a parent PID; an individual PID will be assigned upon recording with Rice County. This versatile space is ready for immediate occupancy.
    Property Profile Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Northfield
    County
    Rice
    State
    Minnesota
    Longitude
    -93.18101428
    Latitude
    44.45071274

    Nearby Similar for Sale

    • $236,000

      New Commercial Garage Condos

      New commercial garage condos designed for business and personal use.
      1371 Armstrong Road, Northfield, MN 55057
      View Details
    • $5,399,999
      67,930 SF

      Industrial Warehouse with Crane Systems

      High-performing industrial warehouse with modern office space on 6.3 acres.
      1800 Riverview Dr, Northfield, MN
      View Details
    • Contact for pricing
      1,100 SF

      Retail/Office Space on Highway 3

      Prime retail/office space with high visibility and traffic.
      660 Professional Drive, Northfield, MN 55057
      View Details

    FAQs

    What type of property is this?
    Industrial property - Move-in ready commercial garage condo in Northfield's growing industrial corridor.
    Where is this industrial property located?
    The property is located at 1373 Armstrong Road Northfield, MN.
    What is the asking price?
    The asking price for this property is $236,000.
    What are key features of this property?
    This property features: Move‑in ready commercial garage condo suitable for business or personal use.; Newly constructed unit with 200 Amp electrical service, floor drains, and natural gas heater.; **18‑foot ceilings** and a **large 12' x 14' garage door** for excellent clearance and access.
    (507) 200-9717
    We can help!
    Listing Contact
    Chris Viscomi
    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.

    More about this property
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