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    709 Norman Ave Foley, MN 56329

    For Sale
    $3,100,000

    130 Acres, Prime Location, Mixed-Use

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This exceptional 130.78-acre property presents a unique investment opportunity in Foley, Minnesota. Ideally situated within city limits, this land offers convenient access to Highway 25 and Highway 23, providing easy commutes to Saint Cloud. The property boasts a prime location directly across from local schools and just blocks from the Central Business District, ensuring high visibility and accessibility. The city of Foley has recently approved zoning for residential and commercial development, opening doors for a variety of projects. This includes potential for mixed-use developments, twin homes, single-family residences, and 55+ communities, aligning with the city's vision for expansion. The land itself is notably flat, simplifying development and reducing potential costs. The sale includes three parcels, one of which features a 0.63-acre farmstead. Furthermore, the property benefits from its adjacency to existing city services and the potential for public incentives from both the city of Foley and Benton County to support the right development. The city is actively seeking development that incorporates commercial elements such as restaurants, retail spaces, and office buildings within a mixed-use plan. This presents a compelling opportunity to contribute to Foley's growth while capitalizing on significant potential returns. The asking price for this expansive and strategically located land is $3,100,000.

    Property Features for 709 Norman Ave

    General Information

    Property type
    Land
    Lot Size
    5,696,777 SF

    HighLights

    • Easy access to Hwy 25 & Hwy 23, providing convenient commutes to Saint Cloud.
    • Adjacent to existing city services.
    • Three parcels located within Foley city limits.
    • City‑approved zoning for residential and commercial development.
    • Potential for public incentives from Foley and Benton County.
    • Includes 0.63‑acre farmstead on one of the three parcels.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Dental Office Building Supply Spa & Massage 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
    Foley
    County
    benton
    State
    Minnesota
    Longitude
    -93.9156371
    Latitude
    45.670325

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    FAQs

    What type of property is this?
    Land - 130 Acres, Prime Location, Mixed-Use
    Where is this land located?
    The property is located at 709 Norman Ave Foley, MN.
    What is the asking price?
    The asking price for this property is $3,100,000.
    What are key features of this property?
    This property features: Easy access to Hwy 25 & Hwy 23, providing convenient commutes to Saint Cloud.; Adjacent to existing city services.; Three parcels located within Foley city limits.
    (651) 341-8196
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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
    709 Norman Ave Foley, MN 56329
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