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    Melrose Industrial Building on 2.07 Acres Title is generated by Realmo AI

    711 East Main Street, Melrose, MN 56352

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    7,352 SF industrial building on 2.07 acres in Melrose, MN.

    Type:Industrial, Land
    Property size:
    7,352 SF
    Lot size:
    2.07 Acres
    Price / SF:
    $46/SF
    Added:
    Jul 2, 2024
    Days on Market:
    689
    Last Refresh:
    Mar 19 at 8:54 pm

    Property Features for 711 East Main Street

    General Information

    Standard status
    Active
    Size
    7,352 SF
    Lot size
    2.07 Acres
    Property subtype
    Industrial, Land

    We can help!

    Listing Contact
    Scott M. Schmitt, CCIM

    Listing agent Scott M. Schmitt, CCIM License #MN

    Listing office Coldwell Banker Commercial Orion Real Estate Advisors

    Listing date Jul 2, 2024

    Source Crexi

    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 Coldwell Banker Commercial Orion Real Estate Advisors

    HighLights

    • Reduced Price: Now offered at $359,000 (was $415,000).
    • 7,352 SF Industrial Building on 2.07 Acres.
    • Heavy Three Phase Power.
    • Potential for Future Building Expansion on 4 Separate Parcels.
    • Newer Steel Exterior & Roof (renovated in 2010).
    • High Visibility Corner Location on Main Street near Downtown Melrose.

    Overview

    Located on East Main Street in Melrose, Minnesota, this 7,352 square foot industrial property is available for sale. The property occupies a visible corner location near downtown Melrose, a city situated approximately 30 miles west of Saint Cloud. Constructed in 1951 with additions in 1985 and 1987, the building underwent exterior renovations in 2010, including a new steel exterior and roof. The building's layout includes a reception area, showroom, office space, shop, and warehouse areas. Approximately 1,415 square feet are dedicated to office space, while the shop and warehouse areas encompass around 5,937 square feet. Several cranes of various sizes are currently in place and may be available for purchase. The building is equipped with heavy three-phase power. The property, situated on four separate parcels, offers potential for future building expansion. This industrial building presents an opportunity for an owner-occupier.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Empire Memorials Inc General Contractor

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    • Melrose Blue Door Storage — Kraft Dr, Melrose, MN 56352

    Location Insight

    • Map
    • Local Demand
    City
    Melrose
    County
    Stearns
    State
    Minnesota
    Longitude
    -94.8267
    Latitude
    45.674686

    Nearby Similar for Sale

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    • $339,000
      1,415 SF

      Melrose Industrial Property with Showroom

      7,352 SF industrial building with showroom and warehouse space.
      711 E Main Street, Melrose, MN 56352
      View Details
    • $18

      New Commercial Spaces in Melrose

      New commercial spaces available in a growing community.
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    FAQs

    What type of property is this?
    Warehouse - 7,352 SF industrial building on 2.07 acres in Melrose, MN.
    Where is this warehouse located?
    The property is located at 711 East Main Street Melrose, MN.
    What is the asking price?
    The asking price for this property is $339,000.
    What are key features of this property?
    This property features: Reduced Price: Now offered at $359,000 (was $415,000).; 7,352 SF Industrial Building on 2.07 Acres.; Heavy Three Phase Power.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Scott M. Schmitt, CCIM
    Real Estate License ID: MN
    Learn More
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    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
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