Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Prime Commercial Land I-35 Access Title is generated by Realmo AI

    21133 775th St, Albert Lea, MN 56007

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    6.5 acre commercial lot with I-35 access.

    Type:Land
    Property size:
    283,140 SF
    Lot size:
    6.50 Acres
    Price / SF:
    $3/SF
    Added:
    Mar 1, 2024
    Days on Market:
    824
    Last Refresh:
    May 12 at 9:26 pm

    Property Features for 21133 775th St

    General Information

    Standard status
    Active
    Size
    283,140 SF
    Lot size
    6.50 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Terri Jensen, ALC
    Terri Jensen, ALC

    Listing agent Terri Jensen, ALC License #MN 40481087

    Listing office National Land Realty

    Listing date Mar 1, 2024

    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 National Land Realty

    HighLights

    • Prime location directly off US Hwy I‑35 with north/south and east/west access.
    • High visibility from US I‑35 and E Main Street.
    • 6.5 +/- acre commercial lot.
    • Utilities available: electric, natural gas, city water, and sewer.
    • Proximity to Albert Lea airport (approximately 2.7 miles).
    • Many permitted commercial uses including schools, retail, fabrication/repair shops, and lumberyards.

    Overview

    This 6.5 +/- acre commercial lot is located just off US Hwy I-35, providing both north/south and east/west access. The property is approximately 2.7 miles from the Albert Lea airport. Utilities available to the site include electric, natural gas, city water, and sewer. The location offers visibility from US I-35 and is situated near E Main Street, which flows into downtown Albert Lea. Permitted uses from a development standpoint range from schools to retail, to fabrication/repair shops, drive-in uses, studios, and lumberyards. The property's size is 283140 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Law Firm Big Box & Wholesale Store Hair Salon Restaurant Storage Facility HVAC Service Grocery & Convenience Store Building Supply Nail Salon Department Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Albert Lea
    County
    Freeborn
    State
    Minnesota
    Longitude
    -93.318405
    Latitude
    43.661777

    Nearby Similar for Sale

    • $649,000
      13,720 SF

      Albert Lea Commercial Property For Sale

      Commercial property with office, retail, and warehouse space available.
      404 Airport Road, Albert Lea, MN 56007
      View Details
    • $549,000
      2,400 SF

      Albert Lea Commercial Building Opportunity

      Freestanding commercial property with car wash on 1.38 acres.
      1311 West Front St, Albert Lea, MN 56007
      View Details
    • $325,000
      11,200 SF

      Versatile Commercial Property with Residential Space

      Operating car service station with updated residential living space above.
      226 E Clark Street, Albert Lea, MN 56007
      View Details
    • $975,000

      Prime Commercial Land I-35 Frontage

      6.5± acre commercial land with utilities and flexible zoning.
      21133 775th St, Albert Lea, MN 56007
      View Details
    • $575,000

      Prime Commercial Land I-35 Frontage

      7-acre commercial land parcel with IDD zoning and utilities.
      21135 775th Ave, Albert Lea, MN 56007
      View Details
    • $50,000

      Corner Mart Gas Station Business

      Gas station business for sale, land and building are leased.
      901 Main Street W, Albert Lea, MN 56007
      View Details
    • $1,400,000

      49-Room Motel on Main Street

      Established motel with strong revenue potential in Albert Lea, MN.
      2102 East Main Street, Albert Lea, MN 56007
      View Details
    • $549,000
      2,400 SF

      High-Visibility Commercial Property on Front Street

      Freestanding commercial property with car wash in key retail corridor.
      1311 West Front St, Albert Lea, MN 56007
      View Details
    • $28,000

      Residential Lot in Tiger Ridge

      Nearly half-acre lot ready for your dream home.
      1738 Tiger Ridge Court, Albert Lea, MN 56007
      View Details
    • $249,000

      Albert Lea Vacant Land Opportunity

      4.73 acres of residential land on Bridge Street.
      TBD Bridge Ave, Albert Lea, MN 56007
      View Details
    • $199,900

      Historic Downtown Albert Lea Corner

      Iconic corner location in historic downtown Albert Lea.
      104 S Broadway Ave, Albert Lea, MN
      View Details
    • $299,000

      Residential Land in Albert Lea

      3.62 acres of residential land ready for development.
      TBD Stevens St, Albert Lea, MN 56007
      View Details

    FAQs

    What type of property is this?
    Commercial land - 6.5 acre commercial lot with I-35 access.
    Where is this commercial land located?
    The property is located at 21133 775th St Albert Lea, MN.
    What is the asking price?
    The asking price for this property is $975,000.
    What are key features of this property?
    This property features: Prime location directly off US Hwy I‑35 with north/south and east/west access.; High visibility from US I‑35 and E Main Street.; 6.5 +/- acre commercial lot.
    (855) 384-5263 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Terri Jensen, ALC
    Terri Jensen, ALC
    Real Estate License ID: MN 40481087
    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
    21133 775th St, Albert Lea, MN 56007
    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!