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    534 Labeaux Ave Hanover, MN 55341

    Sponsored
    For Sale
    $2,200,000

    7.74 Acres, High Visibility, Redevelopment Potential

    Property size:
    8 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional mixed-use property in Hanover, Minnesota presents a compelling redevelopment opportunity. Located at 534 Labeaux Ave NE, this 7.74-acre site boasts high visibility on County Road 19 and includes four parcels. The existing structures comprise a 2,505 square foot home and a total of 9,835 square feet of shop buildings. The property is zoned 3A and offers significant potential for a variety of commercial uses. Built in 1977, the single-story buildings sit on a large lot, providing ample space for expansion or new construction. The asking price is $2,200,000, with a price per square foot of $275,000 based on the existing 8 square feet of building space. This represents a unique chance to acquire a substantial property with considerable upside in a desirable location. Note that an additional 14.23 acres may also be available. This property is ideal for investors seeking a high-impact redevelopment project with excellent visibility and access. The property's location in Wright County, Minnesota, offers easy access to major transportation routes and a growing community. Don't miss this chance to acquire a prime piece of commercial real estate in a thriving area.

    Property Features for 534 Labeaux Ave

    General Information

    Property type
    Mixed-use properties
    Square Feet
    8 SF
    Lot Size
    337,154 SF

    Building Details

    Year Built
    1977
    Buildings
    12340
    Stories
    1

    HighLights

    • 7.74‑acre mixed‑use property in Hanover, MN, with high visibility on County Road 19.
    • Four parcels included, totaling approximately 21.97 acres (including potentially available adjacent land).
    • Existing improvements: 2,505 SF home and 9,835 SF of shop buildings.
    • Zoned 3A, allowing for various commercial uses.
    • Asking price: $2,200,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Auto Parts Store Gym & Fitness Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Hanover
    County
    Wright
    State
    Minnesota
    Longitude
    -93.6636173
    Latitude
    45.1600807

    Nearby Comparable

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    Nearby Similar for Sale

    • $750,000
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      Spacious Industrial Building in Hanover

      12,240 SF industrial building with open layout and skylights.
      11070 Lamont Ave NE, Hanover, MN 55341
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      5,440 SF

      Hanover Industrial Building - Great Value!

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    • $2,200,000
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      Hanover Commercial Land & Buildings

      7.74 Acres, Great Redevelopment Potential
      534 Labeaux Ave, Hanover, MN 55376
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - 7.74 Acres, High Visibility, Redevelopment Potential
    Where is this mixed-use property located?
    The property is located at 534 Labeaux Ave Hanover, MN.
    What is the asking price?
    The asking price for this property is $2,200,000.
    What are key features of this property?
    This property features: 7.74-acre mixed-use property in Hanover, MN, with high visibility on County Road 19.; Four parcels included, totaling approximately 21.97 acres (including potentially available adjacent land).; Existing improvements: 2,505 SF home and 9,835 SF of shop buildings.
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    Hanover, MN 55341
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    Realmo Value Estimation

    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.

    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.

    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
    534 Labeaux Ave Hanover, MN 55341
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