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    415 State St Fairmont, MN 56031

    Sponsored
    For Sale
    $325,000

    Prime 0.99-acre commercial lot, ready for development.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 0.99-acre commercial lot in Fairmont, Minnesota, presents a unique redevelopment opportunity. Located at 415 State Street S., this property boasts high visibility and is situated near established national retailers, offering excellent potential for increased foot traffic and brand recognition. Previously occupied by a building that has been removed, the site is completely cleared and ready for immediate development. The lot is zoned for commercial use, allowing for a wide range of possibilities, including retail establishments and other commercial ventures. An adjacent back lot provides an additional 0.25 acres for expansion or further development, adding significant value to the property. All necessary preparatory work, including tank removal, has been completed, ensuring a smooth and efficient transition for the new owner. This property is ideally suited for investors seeking a prime location with significant upside potential. The asking price is $325,000. The property was built in 1964 and sits on a single story, one building lot. The property is vacant and ready for your vision. Tax Increment Financing (TIF) may be available for redevelopment projects.

    Property Features for 415 State St

    General Information

    Property type
    Land
    Lot Size
    43,124 SF

    Building Details

    Year Built
    1964
    Buildings
    1
    Stories
    1

    HighLights

    • Redevelopment opportunity with potential Tax Increment Financing (TIF).
    • Adjacent 0.25‑acre lot for expansion.
    • High‑visibility location near national retailers.
    • Cleared 0.99‑acre lot; all underground tanks removed.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Fairmont
    County
    Martin
    State
    Minnesota
    Longitude
    -94.4468719
    Latitude
    43.6493363

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    FAQs

    What type of property is this?
    Land - Prime 0.99-acre commercial lot, ready for development.
    Where is this land located?
    The property is located at 415 State St Fairmont, MN.
    What is the asking price?
    The asking price for this property is $325,000.
    What are key features of this property?
    This property features: Redevelopment opportunity with potential Tax Increment Financing (TIF).; Adjacent 0.25-acre lot for expansion.; High-visibility location near national retailers.
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    415 State St Fairmont, MN 56031
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    Fairmont, MN 56031
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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
    415 State St Fairmont, MN 56031
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