Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Prime Development Land in North Branch Title is generated by Realmo AI

    37835 Hemingway Ave, North Branch, MN 55056

    View on Map
    Claim this Listing
    For Sale
    $1,400,000

    Commercial - North Branch, MN

    Lot size:
    37.50 Acres
    Added:
    Mar 27, 2026
    Days on Market:
    68
    Last Refresh:
    Jun 2 at 3:06 am

    Property Features for 37835 Hemingway Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking features
    Garage
    Standard status
    Active
    APN
    11.00559.00
    Lot size
    37.50 Acres

    Taxes and HOA fees

    Tax Annual Amount
    0

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Terri Jensen

    Listing agent Terri Jensen

    Listing office National Land Realty, Minneapolis, MN 1005 Superior Drive, Northfield, MN

    Listing date Mar 27, 2026

    MLS# 11691261 Listing URL

    Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Located in an area with significant residential growth, averaging 100 new homes per year.
    • City‑backed housing demand ensures strong absorption and limited lot inventory.
    • Municipal water and sewer available at the street with sufficient capacity.
    • 37.50‑acre site with a desirable blend of open ground and mature wooded acreage.
    • Zoned R‑1, allowing for single‑family homes and twinhomes, with densities up to four units per acre.
    • Convenient access to schools, downtown amenities, and transportation routes.

    Overview

    This 37.50-acre site is located in the southeast portion of North Branch, Minnesota, an area experiencing residential subdivision growth. The property offers a mix of open ground and mature wooded acreage. Hemingway Avenue borders the west side of the property, providing access to schools, downtown amenities, and transportation routes via Lincoln Trail. Municipal water and sewer are available at the street, with the City confirming sufficient capacity to support approximately 50-70+ residential units. The property is currently zoned R-1 (Single-Family Residential), allowing for single-family homes and twinhomes, with densities up to four units per acre. A Planned Unit Development (PUD) may offer additional design flexibility. Over the past five years, North Branch has averaged 100 new homes per year. The site is well-positioned for near-term development and long-term value creation due to strong absorption, limited lot inventory, and city-backed housing demand.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Law Firm Auto Repair Shop Gym & Fitness Center Bar & Pub Garden Center Daycare Center Bakery Clothing & Fashion Store

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

    Location Insight

    • Map
    • Local Demand
    City
    North Branch
    County
    Chisago
    State
    Minnesota
    Longitude
    -92.957647
    Latitude
    45.497616

    Nearby Similar for Sale

    • $1,450,000
      3,200 SF

      Versatile Agricultural Property by Sunrise River

      Agriculturally zoned property with buildings and infrastructure near North Branch.
      39529 Trulson Road, North Branch, MN 55056
      View Details
    • $4,500,000
      68,880 SF

      Prime Commercial Building Near I-35

      Terrific building with great visibility and access on I-35.
      5360 st croix Trail, North Branch, MN 55056
      View Details
    • $295,000
      1,820 SF

      North Branch Commercial/Residential Opportunity

      Versatile property with residential and commercial potential in downtown North Branch.
      Tbd 8th Avenue, North Branch, MN 55056
      View Details
    • $419,000

      North Branch Commercial Building For Sale

      6000+ sq ft commercial building in high-traffic area.
      38875 Forest Boulevard, North Branch, MN 55056
      View Details
    • $994,600

      Industrial Land in Opportunity Zone

      57.23 acres of I-Z zoned land in North Branch, MN.
      41921 Goodview Avenue, North Branch, MN 55032
      View Details
    • $3,125,000
      21,040 SF

      Redeveloped Retail/Automotive Space on I-35

      21,000 SF redeveloped space ideal for retail or automotive businesses.
      Tanger Dr 38450, North Branch, MN
      View Details
    • $139,900

      Heavily Wooded Land Near Freeway

      Wooded residential land with freeway access in North Branch, MN.
      Lot 2 Kable Avenue, North Branch, MN 55056
      View Details
    • $499,900

      Heavily Wooded Land with River

      40 acres of wooded land with Sunrise River access.
      121xx St Croix Trail, Sunrise Twp, MN 55056
      View Details
    • $1,450,000
      5,900 SF

      Turnkey Agricultural Property on Sunrise River

      57-acre agricultural property with buildings and organic production history.
      39529 Trulson Road, North Branch, MN 55056
      View Details
    • $225,000

      20 Acres of Scenic Land

      20-acre parcel with open land and light woods.
      12xxx St Croix Trail, Sunrise Twp, MN 55056
      View Details
    • $79,500

      Residential Land in North Branch

      Open builder lot zoned for multi-family residential development.
      38xxx Oakview Ave, North Branch, MN 55056
      View Details
    • $2,305,000
      2,975 SF

      North Branch Restaurant Opportunity

      Restaurant property in growing retail corridor near Interstate 35.
      5496 Saint Croix Trail, North Branch, MN 55056
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 37.5-acre site ideal for residential development in growing North Branch.
    Where is this residential land & home lot located?
    The property is located at 37835 Hemingway Ave North Branch, MN.
    What is the asking price?
    The asking price for this property is $1,400,000.
    What are key features of this property?
    This property features: Located in an area with significant residential growth, averaging 100 new homes per year.; City‑backed housing demand ensures strong absorption and limited lot inventory.; Municipal water and sewer available at the street with sufficient capacity.
    (507) 382-0908
    We can help!
    Listing Contact
    Terri Jensen
    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
    37835 Hemingway Ave, North Branch, MN 55056
    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!