Versatile Office-Retail
800 E 40th St Hibbing, MN 55746
800 E 40th St, Hibbing, MN, 55746
$195,000
For Sale
$195,000
Well-maintained building with multiple private offices and an open gathering area with kitchenette, near Hwy 169.
Property Size1,344 SF
Price / SF$145.09
Days on Market65
Property Features for 800 E 40th St
General Information
- Standard status
- Active
- Size
- 1,344 SF
Listing agency
RE/MAX Results
(218) 348-9163
Listed by
Cathy Ehret · License #85269-94
(218) 348-9163
Source
Exprealty
Added: May 19 Updated: Jul 21 at 11:09PM Checked: Jul 21 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 RE/MAX Results
Investment Insights
Based on property information with market context.
This well-maintained commercial building is designed for flexible use, with multiple private office spaces plus an open gathering area that includes a kitchenette. The interior is highlighted by attractive wood accents and abundant lighting, and it includes a cozy fireplace for a welcoming environment. A convenient 1/2 bath supports day-to-day functionality.
The property offers strong visibility just off Hwy 169 and includes ample off-street parking. Its layout and amenities can support a range of business operations, including office, retail, studio, or service-based use.
Move-in ready, the space is configured to accommodate both individual work areas and shared meeting or client hospitality needs.
The property offers strong visibility just off Hwy 169 and includes ample off-street parking. Its layout and amenities can support a range of business operations, including office, retail, studio, or service-based use.
Move-in ready, the space is configured to accommodate both individual work areas and shared meeting or client hospitality needs.
Key Highlights
- Well‑maintained commercial building just off Hwy 169
- Layout includes multiple private office spaces plus an open gathering area
- Open area features a kitchenette for staff, meetings, or client hospitality
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $20.2k | $15.00 |
| − Vacancy | −$2.0k | −$1.50 |
| EGI | $18.1k | $13.50 |
| − OpEx | −$5.4k | −$4.05 |
| NOI | $12.7k | $9.45 |
1,344 SF · lease $15.00/SF/yr · vacancy 10.00% · expense 30.00%
Alternative Uses
Best Use
Office B
$266.3K
$233.0K – $310.7K
NOI $18,643 @ 7.0% cap · market cap 9.56%
Second Best
Retail
$181.4K
$158.8K – $211.7K
NOI $12,701 @ 7.0% cap · market cap 6.51%
Theoretical Best
Specialty Retail
$521.4K
$456.2K – $608.3K
NOI $36,495 @ 7.0% cap · market cap 18.72%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Heartland PCA
Home Health Care Service
One At A Time LLC
Big Box & Wholesale Store
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - Well-maintained building with multiple private offices and an open gathering area with kitchenette, near Hwy 169.
Where is this office building located?
The property is located at 800 E 40th St Hibbing, MN.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: Well‑maintained commercial building just off Hwy 169; Layout includes multiple private office spaces plus an open gathering area; Open area features a kitchenette for staff, meetings, or client hospitality
