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    1619 Main St Albert Lea, MN 56007

    Sponsored
    For Sale
    Contact for pricing

    1.5-acre commercial lot, I-90 access.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 1.5-acre commercial land parcel presents a prime redevelopment opportunity in Albert Lea, Minnesota. Located at 1619 W Main St, 56007, this property boasts unparalleled visibility and accessibility, directly fronting a four-lane highway and offering convenient two-way access. Its strategic location near Interstate 90 ensures high traffic volume and excellent exposure for any retail development. The site is situated within a thriving area experiencing significant residential growth, adjacent to over 50 newly constructed multi-family units. Nearby established businesses include Bomgaars and a local liquor store, creating a strong commercial synergy. The property offers shared parking, easing the burden of development. For developers seeking assistance, the current owners are available to provide support during the construction phase. This location offers exceptional pedestrian access and visibility, making it ideal for a variety of retail uses. Further enhancing its appeal, the possibility of securing funding through a revolving loan fund is available via Growalbertlea.com. This is a rare opportunity to capitalize on a high-traffic, high-visibility location in a rapidly developing area. Don't miss this chance to establish a successful retail presence in Albert Lea.

    Property Features for 1619 Main St

    General Information

    Property type
    Land
    Lot Size
    65,340 SF

    HighLights

    • High‑traffic highway/main street frontage.
    • Direct access via a four‑lane road.
    • Adjacent multifamily development.
    • Potential for revolving loan fund financing (Growalbertlea.com).
    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
    Albert Lea
    County
    Freeborn
    State
    Minnesota
    Longitude
    -93.3891458
    Latitude
    43.6448408

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    FAQs

    What type of property is this?
    Land - 1.5-acre commercial lot, I-90 access.
    Where is this land located?
    The property is located at 1619 Main St Albert Lea, MN.
    What are key features of this property?
    This property features: High-traffic highway/main street frontage.; Direct access via a four-lane road.; Adjacent multifamily development.
    (507) 380-7340
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    1619 Main St Albert Lea, MN 56007
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    Albert Lea, MN 56007
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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
    1619 Main St Albert Lea, MN 56007
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