Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Residential Lot in Desirable Location Title is generated by Realmo AI

    865 Escalade Lane SE, Owatonna, MN 55060

    View on Map
    Claim this Listing
    For Sale
    $62,895

    Lots & Land - Owatonna, MN

    Lot size:
    0.21 Acres
    Added:
    Feb 2, 2023
    Days on Market:
    1217
    Last Refresh:
    Jun 3 at 2:06 am

    Property Features for 865 Escalade Lane SE

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Residential-Single Family
    Standard status
    Active
    APN
    176190115
    Lot size
    0.21 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Annual Amount
    386
    Expense value
    200
    Expense
    Home Owner Assessments Fee
    Expense freq.
    Monthly

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Nancy Sletten
    Nancy Sletten

    Listing agent Nancy Sletten

    Listing office Berkshire Hathaway Homeservices Advantage Real Estate 1880 Austin Road, Owatonna, MN

    Listing date Feb 2, 2023

    MLS# 6329705 Listing URL

    Copyright © 2026 Northstar 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

    • Build‑ready lot in a highly desirable, rapidly developing Southeast location.
    • Opportunity to design and build a fully custom home.
    • Association handles exterior maintenance: snow removal, lawn care, sanitation, and irrigation.
    • Freedom to add a fence, shed, garden, and other outdoor features.
    • Modern infrastructure in place for new construction.
    • Rare opportunity for new construction in this sought‑after area.

    Overview

    Located in a highly desirable Southeast area, this build-ready lot is ideal for buyers looking to design and build their custom home. The property offers flexibility and modern infrastructure, providing the opportunity to create a home that fits your lifestyle. This premium single-family new construction lot allows you to own the land and have the freedom to add a fence, shed, garden, and more, while benefiting from an association that handles snow removal, lawn care, sanitation service, and the exterior irrigation system. The lot size is 0.21 acres. The property is located in Owatonna, MN, with the postal code 55060, in Steele County.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Spa & Massage Center Dental Office Hair Salon Building Supply Gym & Fitness Center Accounting Firm Daycare Center Auto Repair Shop Kitchen & Bath Showroom

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

    Location Insight

    • Map
    • Local Demand
    City
    Owatonna
    County
    Steele
    State
    Minnesota
    Longitude
    -93.207525
    Latitude
    44.061203

    Nearby Similar for Sale

    • $1,600,000
      11,000 SF

      Owatonna Campus Opportunity

      7.6 acres with 11,000+ SF building near hospital.
      2350 NW 26th Street, Owatonna, MN 55060
      View Details
    • $1,195,000
      6,079 SF

      Owatonna Restaurant Investment Opportunity

      Restaurant property for sale with existing lease through November 2026.
      4355 W Frontage Rd | Owatonna, MN 55060
      View Details
    • $850,000

      Owatonna Land Near Industrial Park

      Commercial or agricultural land with easy access to highways.
      Tbd 18th Street SW, Owatonna, MN 55060
      View Details
    • $9
      19,300 SF

      Owatonna Commercial Property for Sale

      Commercial property available for sale in Owatonna, Minnesota.
      600 Hoffman Drive, Owatonna, MN 55060
      View Details
    • $44,900

      Residential Lot in Established Area

      Vacant residential lot in NE Owatonna, great future home site.
      396 Hickory Lane NE, Owatonna, MN 55060
      View Details
    • $4,000,000

      Owatonna Land for Business Growth

      78.77 acres suitable for business or agricultural development.
      Tbd NW 26th Street, Owatonna, MN 55060
      View Details
    • $54,900

      Residential Lot in Owatonna

      Residential lot available in established Owatonna neighborhood.
      1585 Wood Duck Lane NE, Owatonna, MN 55060
      View Details
    • $1,032,000

      Versatile Commercial Building in Owatonna

      4,000 SF commercial building suitable for various business uses.
      345 Florence Avenue, Owatonna, MN 55060
      View Details
    • $48,900

      Residential Lot in Owatonna, MN

      Residential lot available in Owatonna, Minnesota, build to suit.
      1715 Wood Duck Lane NE, Owatonna, MN 55060
      View Details
    • $150,000

      Commercial Lot in Owatonna, MN

      Commercial lot available on the northwest edge of town.
      160 26th Street NW, Owatonna, MN 55060
      View Details
    • $1,400,000

      Prime Commercial Land I-35 Frontage

      Commercial land with I-35 frontage and high exposure.
      140 Alexander Drive SE Owat, Owatonna, MN 55060
      View Details
    • $388,900
      6,200 SF

      Mixed-Use Building in Historic District

      Well-maintained mixed-use building with retail and residential spaces.
      315 N Cedar Avenue, Owatonna, MN 55060
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Build-ready lot for custom home in sought-after Owatonna location.
    Where is this residential land & home lot located?
    The property is located at 865 Escalade Lane SE Owatonna, MN.
    What is the asking price?
    The asking price for this property is $62,895.
    What are key features of this property?
    This property features: Build‑ready lot in a highly desirable, rapidly developing Southeast location.; Opportunity to design and build a fully custom home.; Association handles exterior maintenance: snow removal, lawn care, sanitation, and irrigation.
    (507) 213-1777
    We can help!
    Listing Contact
    Nancy Sletten
    Nancy Sletten
    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
    865 Escalade Lane SE, Owatonna, MN 55060
    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!