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    5241 Miller Trunk Hwy Hermantown, MN 55811

    Sponsored
    For Sale
    $1,200,000

    4-Acre Commercial Land, High-Traffic Hwy 53

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    Exceptional investment opportunity: a 4-acre commercial lot in Hermantown, Minnesota, situated on a high-traffic corner of Miller Trunk Highway (Hwy 53). This prime location boasts three convenient access points – two from Hwy 53 and one from Norway Pines Place. The property is zoned General Commercial and features existing on-site utilities, providing immediate infrastructure for development. Currently generating substantial monthly income, approximately $7,500 from a building and $1,250 from a house, this property offers a unique blend of immediate cash flow and significant long-term potential. The high visibility from the busy highway ensures excellent exposure for any commercial venture. The land itself is situated on usable high ground, offering ample space for expansion, storage, or new construction. All measurements and information are believed to be accurate, but buyers are responsible for their own due diligence. The asking price for this exceptional property is $1,200,000. Don't miss this chance to secure a thriving commercial property in a prime location.

    Property Features for 5241 Miller Trunk Hwy

    General Information

    Property type
    Land
    Lot Size
    174,240 SF

    HighLights

    • 4‑acre commercial lot situated on a high‑traffic corner lot at Miller Trunk Highway (Hwy 53).
    • Generates approximately $8,750 monthly income from existing building and house.
    • Zoned General Commercial with on‑site utilities and three access points.
    • Buyer and buyer's agent are responsible for verifying all information.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Spa & Massage Building Supply Dental Office Hair Salon Auto Repair Shop Clothing Store Hotel & Motel Pharmacy Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Hermantown
    County
    St. Louis
    State
    Minnesota
    Longitude
    -92.2329137
    Latitude
    46.837086

    Nearby Comparable

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    Nearby Similar for Sale

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      High-Traffic Hermantown Commercial Site

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      5480 Miller Trunk Hwy, Hermantown, MN 55811
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    • $1,200,000
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      High-Visibility Commercial Land, Hermantown

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      5241 Miller Trunk Hwy, Hermantown, MN 55811
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    • $64,900
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      Hermantown, MN Residential Property

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    FAQs

    What type of property is this?
    Land - 4-Acre Commercial Land, High-Traffic Hwy 53
    Where is this land located?
    The property is located at 5241 Miller Trunk Hwy Hermantown, MN.
    What is the asking price?
    The asking price for this property is $1,200,000.
    What are key features of this property?
    This property features: 4-acre commercial lot situated on a high-traffic corner lot at Miller Trunk Highway (Hwy 53).; Generates approximately $8,750 monthly income from existing building and house.; Zoned General Commercial with on-site utilities and three access points.
    (218) 728-5161
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    5241 Miller Trunk Hwy Hermantown, MN 55811
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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
    5241 Miller Trunk Hwy Hermantown, MN 55811
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