Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    City Side Estates Apartments Title is generated by Realmo AI

    600 Burton Lane, Fairmont, MN 56031

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    36-unit apartment complex in Fairmont, MN, with 19 garages.

    Type:Multifamily
    Property size:
    36,840 SF
    Price / SF:
    $76/SF
    Added:
    May 20, 2026
    Days on Market:
    14
    Last Refresh:
    May 21 at 7:29 am

    Property Features for 600 Burton Lane

    General Information

    Standard status
    Active
    Size
    36,840 SF
    Property subtype
    Multifamily

    Building Details

    Year Built
    1979

    We can help!

    Listing Contact
    Kevin Goettl

    Listing agent Kevin Goettl License #MN 95340

    Listing office RE/MAX Results

    Listing date May 20, 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 RE/MAX Results

    HighLights

    • 36 apartments and 19 garages offer significant rental income potential
    • Prime location in the Southeast Corner of Fairmont, close to essential amenities
    • Proximity to Fairmont Junior/Senior High School and Mayo Health Systems
    • Desirable unit mix: 34 two‑bedroom and 2 one‑bedroom apartments
    • Durable exterior featuring Chicago brick and vinyl siding
    • Mansard roof adds architectural appeal

    Overview

    City Side Estates is an apartment complex featuring 36 apartments and 19 garages. The property is located in the southeast corner of Fairmont, Minnesota, offering convenient access to groceries, retail establishments, banks, gas stations, convenience stores, fast food restaurants, and coffee shops. Fairmont Junior/Senior High School and Mayo Health Systems are situated approximately 1.2 miles from the complex. The building features Chicago brick and vinyl siding, complemented by a mansard roof. The unit mix comprises 34 two-bedroom apartments and 2 one-bedroom apartments. The property size is 36840 square feet.
    Location Intelligence

    Current Use by Public Records

    City Side Estates Apartment Building

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Fairmont
    County
    Martin
    State
    Minnesota
    Longitude
    -94.443745
    Latitude
    43.647968

    Nearby Similar for Sale

    • $595,000
      4,104 SF

      Minnesota Lakefront Resort For Sale

      Resort with cabins and boat rentals, 11.47% cap rate.
      2410 Albion Ave, Fairmont, MN 56031
      View Details
    • $619,000

      Former Starbucks with Drive-Thru

      Versatile building, previously Starbucks, suitable for various retail uses.
      1140 Torgerson Drive, Fairmont, MN 56031
      View Details
    • $1,350,000
      13,968 SF

      Five Industrial Warehouses For Sale

      Five recently built industrial warehouses in thriving industrial park.
      1131 Indus St, Fairmont, MN
      View Details
    • $220,000
      9,600 SF

      Versatile Shop Condos For Sale

      Shop condos suitable for commercial or personal use.
      700 Armstrong S Drive 101, Fairmont, MN 56031
      View Details
    • $952,381
      1,992 SF

      Shell Gas Station Investment Opportunity

      NNN leased Shell station with 19 years remaining in Minnesota.
      1552 Albion Avenue, Fairmont, MN 56031
      View Details
    • $875

      Flexible Office Space Available

      Office space for lease in a prime location.
      757 S State Street Suite 9, Fairmont, MN 56031
      View Details
    • $1,395,000

      Fairmont Industrial Storage & Distribution Facility

      6.13-acre industrial property with five warehouses near I-90 and railway.
      1131 Indus Street, Fairmont, MN 56031
      View Details

    FAQs

    What type of property is this?
    Apartment building - 36-unit apartment complex in Fairmont, MN, with 19 garages.
    Where is this apartment building located?
    The property is located at 600 Burton Lane Fairmont, MN.
    What is the asking price?
    The asking price for this property is $2,800,000.
    What are key features of this property?
    This property features: 36 apartments and 19 garages offer significant rental income potential; Prime location in the Southeast Corner of Fairmont, close to essential amenities; Proximity to Fairmont Junior/Senior High School and Mayo Health Systems
    (952) 431-2400 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Kevin Goettl
    Real Estate License ID: MN 95340
    Learn More
    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
    600 Burton Lane, Fairmont, MN 56031
    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!