Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Land Lease in Retail Corridor Title is generated by Realmo AI

    1720 Westridge Rd, New Ulm, MN 56073

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Land parcels available for lease in a high-traffic retail area.

    Type:Land
    Lot size:
    1.29 Acres
    Added:
    Nov 15, 2021
    Days on Market:
    1663
    Last Refresh:
    May 20 at 8:16 pm

    Property Features for 1720 Westridge Rd

    General Information

    Standard status
    Active
    Lot size
    1.29 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    David Daly

    Listing agent David Daly License #MN

    Listing office CBRE - Minneapolis

    Listing date Nov 15, 2021

    Source Crexi

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

    All listing content including descriptions, pricing, images are the copyrighted material of CBRE - Minneapolis

    HighLights

    • Located in New Ulm's primary retail corridor within Super Center Square.
    • Anchored by Walmart Supercenter and shadow‑anchored by Menards.
    • Zoned B‑3, Community Business District.
    • Signalized entrance to the center.
    • Available parcels: 1.12 Ac, 1.25 Ac, and 1.29 Ac.
    • Close to downtown New Ulm and draws customers from surrounding cities.

    Overview

    Land lease opportunities are available within New Ulm’s primary retail corridor, specifically in Super Center Square. The location is anchored by Walmart Supercenter and shadow-anchored by Menards. Available parcels include 1.12 acres (parcel #00191800201010), 1.25 acres (parcel #00191800202020), and 1.29 acres (parcel #00191800203030). The zoning is B-3, Community Business District. The entrance to the center is signalized. The location is close to downtown New Ulm and benefits from a large draw from surrounding cities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Spa & Massage Center Building Supply Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Auto Parts Store Pharmacy Department Store

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

    Location Insight

    • Map
    • Local Demand
    City
    New Ulm
    County
    Brown
    State
    Minnesota
    Longitude
    -94.496449
    Latitude
    44.326818

    Nearby Similar for Sale

    • $310,000

      Corner Mixed-Use Commercial Building

      Corner commercial property with ample parking behind and two upper-level apartments, suited for retail or restaurant concepts.
      214 N Minnesota Street, New Ulm, MN 56073
      View Details
    • $424,900
      5,300 SF

      Downtown New Ulm Mixed-Use Property

      Three-story building in downtown New Ulm with flexible space.
      123 N Minnesota St, New Ulm, MN 56073
      View Details
    • $325,000
      2,322 SF

      Two-Story Building with Drive-Through

      Two-story, 2322 SF building suitable for retail or office.
      1501 North Broadway Street, New Ulm, MN 56073
      View Details
    • $85,000
      9,280 SF

      Industrial Truck Storage & Cold Storage

      Industrial site with multiple buildings and permitted truck and cold storage on an I-2 zoned parcel near the river.
      317 - 322 Water Street N, New Ulm, MN 56085
      View Details
    • $325,000
      2,322 SF

      Retail/Office Building with Drive-Through

      Two-story building suitable for retail or office use with parking.
      1501 North Broadway Street, New Ulm, MN 56073
      View Details
    • $375,000
      2 SF

      Commercial Pad Site Next to ALDI

      Two-acre commercial pad site in New Ulm retail corridor.
      2101 N Highland Ave, New Ulm, MN, 56073
      View Details
    • $1,200,000
      4 SF

      Turnkey Restaurant Opportunity in New Ulm

      Restaurant property with drive-through, ready for immediate operation.
      1922 S Broadway St New Ulm, MN 56073, MN 56073
      View Details
    • $18,500

      Residential Lot in Growing Neighborhood

      Residential lot in New Ulm, utilities stubbed in.
      2401 Lake Avenue, New Ulm, MN 56073
      View Details
    • $16,500

      Residential Lot in Growing Neighborhood

      Residential lot in New Ulm, utilities stubbed in.
      2405 Lake Avenue, New Ulm, MN 56073
      View Details
    • $16,500

      Residential Lot in Growing Neighborhood

      Residential lot in New Ulm, utilities stubbed in.
      2409 Lake Avenue, New Ulm, MN 56073
      View Details
    • Contact for pricing

      Prime Commercial Out-Lot Opportunity

      0.91-acre out-lot with high visibility and traffic count.
      TBD S Broadway, New Ulm, MN 56073
      View Details
    • $275,000

      New Ulm Retail Land Parcel

      1.24 acre commercial land parcel in retail corridor.
      1720 Westridge Rd, New Ulm, MN
      View Details

    FAQs

    What type of property is this?
    Commercial land - Land parcels available for lease in a high-traffic retail area.
    Where is this commercial land located?
    The property is located at 1720 Westridge Rd New Ulm, MN.
    What are key features of this property?
    This property features: Located in New Ulm's primary retail corridor within Super Center Square.; Anchored by Walmart Supercenter and shadow‑anchored by Menards.; Zoned B‑3, Community Business District.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    David Daly
    Real Estate License ID: MN
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    1720 Westridge Rd, New Ulm, MN 56073
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!