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    701 Central Ave Saint Michael, MN 55376

    Sponsored
    For Sale
    $1,950,000

    Prime Retail Space, Redevelopment Opportunity

    Property size:
    8,700 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This 8,700 square foot, single-story building, situated on a 1.83-acre lot, presents a unique investment opportunity in Saint Michael, Minnesota. Formerly a bank, this vacant property offers significant potential for redevelopment or repurposing as office space. The building, constructed in 1980, boasts a prime location on Central Avenue E, experiencing an average daily traffic count of 19,400 vehicles. Its strategic placement across from Cub Foods, the city's only grocery store, ensures high visibility and accessibility. The property benefits from a drive-thru opportunity and is situated within a thriving retail corridor, alongside established businesses such as CVS, Walgreens, Subway, Domino's, and O'Reilly Auto Parts. The area is experiencing robust commercial development, further enhancing the property's value. Its proximity to major employers like J&B's, Die Technology, Nanotech Precision, and New Plastics Plus, Inc., adds to its appeal. Conveniently located 25 minutes from downtown Minneapolis and 35 minutes from St. Cloud, this property offers exceptional access to a larger market. Saint Michael itself is a highly desirable location, ranked #3 best city to live in Minnesota, and benefits from the highly-rated St. Michael Public School District, ranked #16 in the state. The asking price is $1,950,000, translating to $224.14 per square foot. The property is offered as a NNN lease.

    Property Features for 701 Central Ave

    General Information

    Property type
    Individual retail properties
    Square Feet
    8,700 SF
    Lot Size
    79,715 SF

    Building Details

    Year Built
    1980
    Buildings
    1
    Stories
    1

    HighLights

    • 8,700 SF single‑story building on a 1.83‑acre lot in Saint Michael, MN.
    • Former bank, vacant, ideal for redevelopment or office space.
    • Prime Central Avenue E location, 19,400 ADT, across from Cub Foods.
    • Drive‑thru potential, in thriving retail corridor with CVS, Walgreens, and other national tenants.
    • $1,950,000 asking price ($224.14/SF), NNN lease.
    Property Profile Location Intelligence

    Current Use by Public Records

    Banks

    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
    Saint Michael
    County
    Wright
    State
    Minnesota
    Longitude
    -93.6510113
    Latitude
    45.2096016

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    FAQs

    What type of property is this?
    Individual retail property - Prime Retail Space, Redevelopment Opportunity
    Where is this individual retail property located?
    The property is located at 701 Central Ave Saint Michael, MN.
    What is the asking price?
    The asking price for this property is $1,950,000.
    What are key features of this property?
    This property features: 8,700 SF single-story building on a 1.83-acre lot in Saint Michael, MN.; Former bank, vacant, ideal for redevelopment or office space.; Prime Central Avenue E location, 19,400 ADT, across from Cub Foods.
    Request Owner's contact information
    701 Central Ave Saint Michael, MN 55376
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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
    701 Central Ave Saint Michael, MN 55376
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