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Hastings Retail or Mixed-Use Opportunity

2324 Vermillion St, Hastings, MN 55033

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For Sale

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4,560 SF building in Hastings, MN, ideal for retail.

Type:Retail

Property size:

3,060 SF

Price / SF:

$133/SF

HighLights

Prime location on Vermillion Street (Highway 61) in Hastings, MN, offering high traffic and visibility.
Versatile 4,560 SF building suitable for retail or mixed‑use, including potential for housing upstairs.
C‑3 zoning designation advantageous for commercial real estate ventures.
Over $125,000 in recent improvements made within the past two years.
Unique upper‑level loading dock amenity.
Seller financing will be considered.

We can help!

Contact an agent

Chad Heer

For Sale

Contact for pricing

4,560 SF building in Hastings, MN, ideal for retail.

Type:Retail

Property size:

3,060 SF

Price / SF:

$133/SF

Added:: Mar 3, 2026
Days on Market:: 116
Last Refresh:: Mar 16 at 2:14 pm

Property Features for 2324 Vermillion St

General Information

Standard status: Active
Size: 3,060 SF
Property subtype: Retail

We can help!

Contact an agent

Chad Heer

Listing office KW Commercial Roseville, MN

Listing date Mar 3, 2026

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 KW Commercial Roseville, MN

HighLights

Prime location on Vermillion Street (Highway 61) in Hastings, MN, offering high traffic and visibility.
Versatile 4,560 SF building suitable for retail or mixed‑use, including potential for housing upstairs.
C‑3 zoning designation advantageous for commercial real estate ventures.
Over $125,000 in recent improvements made within the past two years.
Unique upper‑level loading dock amenity.
Seller financing will be considered.

Overview

Located in Hastings, MN, this property offers a 4,560 SF building suitable for retail or mixed-use purposes. The building, constructed in 1960, has been updated with over $125,000 in improvements over the past two years. It features a loading dock on the upper level. Situated on Vermillion Street (Highway 61) and zoned C-3, the property is positioned within a high-traffic commercial area. The property offers versatile space for a range of businesses and possible housing upstairs. Seller financing will be considered.

Local Financial Insights For Mixed Use

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$66.1k	$21.60
− Vacancy	−$7.9k	−$2.59
EGI	$58.2k	$19.01
− OpEx	−$21.8k	−$7.13
NOI	$36.4k	$11.88

3,060 SF · lease $21.60/SF/yr · vacancy 12.00% · expense 37.50%

Alternative Uses

Best Use

Mixed Use

$519.3K

$454.4K – $605.9K (±1% cap)

NOI $36,353 @ 7.0% cap · market cap 8.87%

Second Best

Retail

$461.0K

$403.4K – $537.9K (±1% cap)

NOI $32,271 @ 7.0% cap · market cap 7.87%

Theoretical Best

Healthcare Medical

$753.0K

$658.9K – $878.5K (±1% cap)

NOI $52,712 @ 7.0% cap · market cap 12.86%

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

Property Profile Location Intelligence

Current Use by Public Records

Old Mill Pawn Discount Store

Suggested Use

Location Insight

Map
Local Demand

City: Hastings
County: Dakota
State: Minnesota
Longitude: -92.8502968
Latitude: 44.7206681

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For sale
Retail space
MN
Hastings
55033
2324 Vermillion St

What type of property is this?

Retail space - 4,560 SF building in Hastings, MN, ideal for retail.

Where is this retail space located?

The property is located at 2324 Vermillion St Hastings, MN.

What is the asking price?

The asking price for this property is $410,000.

What are key features of this property?

This property features: Prime location on Vermillion Street (Highway 61) in Hastings, MN, offering high traffic and visibility.; Versatile 4,560 SF building suitable for retail or mixed‑use, including potential for housing upstairs.; C‑3 zoning designation advantageous for commercial real estate ventures.