Development Land for
For Sale
Contact for pricing
251 Main Street, New Market, MN 55054
1.6-acre development parcel with utilities available and R5 Downtown Residential zoning permitting six-plus unit multifamily.
Property SizeContact for details
Lot Size1.60 Acres
Days on Market122
Property Features for 251 Main Street
General Information
Standard status
Active
Lot size
1.60 Acres
Property subtype
Land
Zoning
R5
Site & Location
Road Access
Yes
Utilities to Site
Yes
Listing Agency:
Results Commercial
(651) 256-7404
Listed By:
Mark Hulsey · License #MN 40169559
Source:
Crexi
Added: Apr 10
Changed: Aug 8
Last Checked: Apr 10 at 11:09PM
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 Results Commercial
Investment Insights
Based on property information with market context.
A 1.6-acre development land parcel located at 251 Main Street. The property includes a current single-family home that is described as a tear down following the expiration of a single-family grandfather clause, with the site being positioned for redevelopment.
Electric, water, and sewer services are available. The City of Elko New Market Downtown Residential district is identified as Zoned R5 Downtown Residential, which allows multiple-family dwelling structures containing six (6) or more dwelling units, and it permits more than one principal building on the base lot.
The offering is noted as the only property in Elko New Market with this R5 Downtown Residential allowance. The public remarks also reference that the City’s Downtown Master Plan may be receptive to other integrated uses. The parcel is located 2.8 miles from Hwy 35, and drive time to the Minneapolis–St. Paul Airport is noted as 30 miles.
Electric, water, and sewer services are available. The City of Elko New Market Downtown Residential district is identified as Zoned R5 Downtown Residential, which allows multiple-family dwelling structures containing six (6) or more dwelling units, and it permits more than one principal building on the base lot.
The offering is noted as the only property in Elko New Market with this R5 Downtown Residential allowance. The public remarks also reference that the City’s Downtown Master Plan may be receptive to other integrated uses. The parcel is located 2.8 miles from Hwy 35, and drive time to the Minneapolis–St. Paul Airport is noted as 30 miles.
Key Highlights
- 1.6‑acre development land on Main Street in Elko New Market
- R5 Downtown Residential zoning permits multiple‑family dwelling structures with 6+ units
- More than one principal building allowed on the base lot
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
129
Businesses Nearby
Explore this area
Business Placement
Demographics for 55054, MN
2,489
Population
939
Households
2.7
Avg Household Size
34
Median Age
41%
College-Educated
96%
High-School Grad
1.0 sq mi
ZIP Area
2,489
Density / Sq Mi
$151,845
Median Household Income
$64,937
Median Earnings
$2,311
Median Rent
$399,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - 1.6-acre development parcel with utilities available and R5 Downtown Residential zoning permitting six-plus unit multifamily.
Where is this residential land & home lot located?
The property is located at 251 Main Street New Market, MN.
What are key features of this property?
This property features: 1.6‑acre development land on Main Street in Elko New Market; R5 Downtown Residential zoning permits multiple‑family dwelling structures with 6+ units; More than one principal building allowed on the base lot
