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    205 S Main Street Le Sueur, MN 56058

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    For Sale
    $385,000

    Commercial - Le Sueur, MN

    Lot size:
    0.04 Acres
    Added:
    Aug 14, 2025
    Days on Market:
    259
    Last Refresh:
    Apr 29 at 4:06 pm

    Property Features for 205 S Main Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Business/Commercial,Residential-Multi-Family
    Exterior features
    Brick/Stone
    Appliances
    Range, Refrigerator
    Standard status
    Active
    APN
    218002760
    Lot size
    0.04 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    2780.58

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1900
    Flooring type
    Concrete, Linoleum, Vinyl
    Building materials
    Brick, Stone
    Roof type
    Flat, Rubber
    Architectural style
    Other

    We can help!

    Listing Contact
    The Stier-Ruud Home Team

    Listing agent The Stier-Ruud Home Team

    Listing office Keller Williams Preferred Realty 14300 Nicollet Court Ste 208, Burnsville, MN

    Listing date Aug 14, 2025

    MLS# 6770424 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.

    Overview

    Le Sueur Mixed-Use Opportunity

    Located on Historic South Main Street in Le Sueur, Minnesota, this mixed-use property presents commercial and residential opportunities. The street level features a restaurant space, remodeled in 2020, previously Luke's café. The restaurant kitchen is equipped with fryers, a range, a commercial-grade freezer and fridge, prep areas, an ice machine, a malt machine, and a deep freezer. The space includes new flooring, updated bathrooms, newly upholstered seating and tables, and a sit-down bar with an exposed brick wall. Upstairs are two 1-bedroom apartments, both updated in 2020. The street-facing apartment is bright and spacious with high ceilings, new laminate flooring, new counters, new windows, and a remodeled kitchen with a walk-in pantry. The rear apartment includes a den/office area. Both apartments feature skylights and architectural details. The property is zoned for Business/Commercial and Residential-Multi-Family use. The lot size is 0.04 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Speedway Gas Station Luke's Restaurant

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Le Sueur
    County
    Le Sueur
    State
    Minnesota
    Longitude
    -93.916303
    Latitude
    44.459956

    Nearby Similar for Sale

    • $175,000
      1,645 SF

      Le Sueur Duplex For Sale

      Multi-family duplex in Le Sueur, MN, ideal for owner occupancy.
      221 Bridge Street, Le Sueur, MN 55148
      View Details
    • $339,900

      Le Sueur Turnkey Investment Property

      Fully leased, renovated mixed-use property in high-demand retail area.
      106 N Main Street, Le Sueur, MN 56058
      View Details
    • $500,000
      20,436 SF

      Industrial Property in Le Sueur

      Three buildings totaling 20,436 SF on Ottawa Rd.
      37701 Ottawa Rd, Le Sueur, MN
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Commercial and residential property in Le Sueur's historic district.
    Where is this mixed-use property located?
    The property is located at 205 S Main Street Le Sueur, MN.
    What is the asking price?
    The asking price for this property is $385,000.
    What are key features of this property?
    This property features: Restaurant space is fully equipped and ready to open immediately.; Two updated (2020) 1‑bedroom apartments upstairs offer rental income potential.; Prime location on historic South Main Street.
    (612) 598-7771
    We can help!
    Listing Contact
    The Stier-Ruud Home Team
    Learn More
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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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