Add Listing
    For Sale
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    The Largest CRE Database in the US with Over 1 Million Listings

    916 Litchfield Ave SW Willmar, MN

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Retail property available for sale in Willmar, Minnesota.

    Type:RETAIL
    Property size:
    5,800 SF
    Lot size:
    0.44 Acres
    Price / SF:
    $59/SF
    Added:
    Apr 27, 2023
    Days on Market:
    1101
    Last Refresh:
    Apr 5 at 8:54 pm

    Property Features for 916 Litchfield Ave SW

    General Information

    Standard status
    Active
    Size
    5,800 SF
    Lot size
    0.44 Acres
    Property subtype
    RETAIL

    We can help!

    Listing Contact
    Justin Paffrath
    Justin Paffrath

    Listing agent Justin Paffrath

    Listing office Edina Realty Inc - Willmar

    Listing date Apr 27, 2023

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Edina Realty Inc - Willmar

    Overview

    Retail Property in Willmar, MN

    A retail property with 5,800 square feet of space is available for sale. The property is located at 916 Litchfield Ave SW, Willmar, MN.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Rendezvous Axe Throwing Restaurant C D & T ... Auto Parts Store

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Willmar
    County
    Kandiyohi
    State
    Minnesota
    Longitude
    -95.0324
    Latitude
    45.1235

    Nearby Similar for Sale

    • $1,440,000

      Government-Leased Office Building For Sale

      Single-story office building leased to USDA through April 2030.
      1005 High Avenue NE, Willmar, MN 56201
      View Details
    • $1,800

      High Exposure Office Suite

      Office suite with flexible space and highway signage available.
      222-2 20th Street SE, Willmar, MN 56201
      View Details
    • $1,400

      Prime Commercial Space in Willmar

      Commercial space for sale in a prime location.
      716 1st St. S, Suite 1 (East Side), Willmar, MN 56201
      View Details
    • $325,000

      Willmar Hangar with Radiant Heat

      Well-equipped hangar with radiant heat and epoxy flooring for sale.
      6600 Highway 40, Willmar, MN 56201
      View Details
    • $325,000

      Versatile Commercial Property, Willmar, MN

      Flexible commercial space suitable for various business types in Willmar.
      1001 Highway 12 E, Willmar, MN 56201
      View Details
    • $13

      Highway 12 Office Space

      Move-in-ready office space with shared amenities in Willmar, MN.
      2320 Highway 12 E, Willmar, MN 56201
      View Details
    • $700,000
      4,600 SF

      Prime Automotive Shop on Corner Lot

      4,600 SF auto shop on 0.61 acre corner lot.
      104 Litchfield Ave SE, Willmar, MN
      View Details
    • $999,999
      18,680 SF

      Willmar Automotive and Retail Property

      18,680 SF property on 3.04 acres in Willmar, MN.
      1418 1st St S, Willmar, MN
      View Details
    • $17
      1,000 SF

      Versatile Retail/Office Space Available

      Spacious retail/office space in central, high-traffic location.
      2211 S 1st Street 120, Willmar, MN 56201
      View Details
    • $8
      1 SF

      Skylark Mall Commercial Spaces

      Multiple commercial spaces available in Skylark Mall.
      1604 S 1st Street, Willmar, MN 56201
      View Details
    • $12
      2,000 SF

      Professional Office Suite Available

      2000 SF office suite in professional building for sale.
      130 Willmar SE Avenue 4, Willmar, MN 56201
      View Details
    • $1,199,999
      25,712 SF

      Historic Office Building, Willmar

      25,712 sf office building in downtown Willmar for sale.
      302 5th St SW, Willmar, MN
      View Details

    FAQs

    What type of property is this?
    Retail property - Retail property available for sale in Willmar, Minnesota.
    Where is this retail property located?
    The property is located at 916 Litchfield Ave SW Willmar, MN.
    What is the asking price?
    The asking price for this property is $345,000.
    What are key features of this property?
    This property features: Retail property available for sale.; Located in Willmar, Minnesota.; Additional property details available.
    (320) 491-9035 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Justin Paffrath
    Justin Paffrath
    Learn More
    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

    916 Litchfield Ave SW, Willmar, MN

    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!