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

    1401 South 12Th Ave, Unit Virginia MN Virginia, MN 55792

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Corporate leased Hobby Lobby with 9+ years remaining.

    Property size:
    49,692 SF
    Lot size:
    3.61 Acres

    Property Features for 1401 South 12Th Ave

    General Information

    Standard status
    Active
    Size
    49,692 SF
    Lot size
    3.61 Acres

    Building Details

    Year built
    1970

    We can help!

    Listing Contact
    Matthew Nadler
    Matthew Nadler
    Source: Crexi

    Listing Agency: Horvath & Tremblay Listing Agent: Matthew Nadler

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Hobby Lobby Investment Opportunity

    The property offered for sale is a corporate-leased Hobby Lobby investment located at 1401 S 12th Avenue W in Virginia, Minnesota. Hobby Lobby has occupied the property since 2020 and executed a 10-year lease extension in February 2025. The lease has over 9 years remaining with three 5-year renewal options. The lease includes rent increases of $0.35 per square foot every five years throughout the primary term and at the start of each renewal option. The property is situated within Uptown Virginia, an indoor shopping mall with over 350,000 square feet of retail space that is undergoing significant redevelopment. Uptown Virginia is anchored by Aldi, Harbor Freight, Tractor Supply Co, and Dunham Sports, and offers a variety of retail and dining options. The property is positioned along US Highway 53, the area’s primary commercial and commuter corridor, and is accessible from S 12th Avenue and 13th Street S, providing frontage and visibility from all three roadways. The property is near Target, Menards, and the Iron Trail Motors Event Center.
    Location Intelligence

    Current Use by Public Records

    Angel Nail II Nail Salon Iron Range Dog ... Animal Training Hobby Lobby (Bike/Boat/Book/etc) Store Uptown Stylists Hair Salon Wells Fargo ATM Atm

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Virginia
    County
    St. Louis
    State
    Minnesota
    Longitude
    -92.5563337
    Latitude
    47.5114069

    Nearby Similar for Sale

    • $89,900
      1,781 SF

      Virginia Duplex with Bonus Space

      Duplex in Virginia, MN, featuring a bonus third floor.
      208 5Th St S, Virginia, MN 55792
      View Details
    • $75,000
      1,760 SF

      Virginia, MN Duplex For Sale

      Fully leased duplex with hardwood floors and two-car garage.
      701 10Th St, Virginia, MN 55792
      View Details
    • $400,000
      11,014 SF

      Downtown Virginia Mixed-Use Opportunity

      Four-story, solid brick building in a prime downtown location.
      214 N 2Nd Ave, Virginia, MN 55792
      View Details
    • $3,797,000

      Uptown Virginia Mall Investment Opportunity

      Grocery-anchored mall with high occupancy and future growth potential.
      1414 South 12Th Ave West, Virginia, MN 55792
      View Details
    • $425,000
      11,014 SF

      Downtown Virginia Retail Gem

      Four-story building, high potential, prime location.
      214 2Nd Ave, Virginia, MN 55792
      View Details
    • Contact for pricing
      12,600 SF

      Single-Level Office/Medical Building For Sale

      One-level office/medical building with surface parking in Virginia, Minnesota.
      505 S 12Th Ave W, Virginia, MN 55792
      View Details
    • $650,000
      1.37 Acres

      Cannabis Cultivation Opportunity in Virginia, MN

      Prime 5,000+ sq ft property, ready for cannabis micro-manufacture.
      7596 Werner Rd, Virginia, MN 55792
      View Details
    • $175,000
      6,282 SF

      Downtown Virginia Multi-Use Building

      Prime Location, Versatile Spaces, Great Potential
      212 5Th Ave, Virginia, MN 55792
      View Details
    • Contact for pricing
      57,248 SF

      Grocery Anchored Virginia Mall

      Thriving retail property with high occupancy and growth potential.
      1401-1440 S 12Th Ave W, Virginia, MN 55792
      View Details
    • $99,000
      0.07 Acres

      100 Sq. Ft. and Includes: Waiting Room

      3-4 Offices
      413 Chestnut St, Virginia, MN 55792
      View Details
    • Contact for pricing
      57,248 SF

      Retail Property in Virginia, MN

      Three-tenant retail property anchored by Aldi, Tractor Supply, and Harbor Freight.
      1422 S 12Th Ave W, Virginia, MN 55792
      View Details
    • Contact for pricing
      5,476 SF

      Established Sporting Goods Business For Sale

      Turn-key sporting goods business with inventory, building, and land.
      105 N 3Rd Ave, Virginia, MN 55792
      View Details

    FAQs

    What type of property is this?
    Retail space - Corporate leased Hobby Lobby with 9+ years remaining.
    Where is this retail space located?
    The property is located at 1401 South 12Th Ave, Unit Virginia MN Virginia, MN.
    What are key features of this property?
    This property features: - Corporate lease with Hobby Lobby, a nationally recognized retailer; - Hobby Lobby recently executed a 10-year lease extension; - 9+ years remaining on the primary lease term with attractive rent increases
    Request Owner's contact information
    1401 South 12Th Ave, Unit Virginia MN Virginia, MN 55792
    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.
    1401 South 12Th Ave, Unit Virginia MN
    Virginia, MN 55792
    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
    1401 South 12Th Ave, Unit Virginia MN Virginia, MN 55792
    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

    We can help!
    Listing Contact
    Matthew Nadler
    Matthew Nadler
    Real Estate License ID: 134870
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!