Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Northfield Development Opportunity on Division Title is generated by Realmo AI

    Division Street S, Northfield, MN 55057

    View on Map
    Claim this Listing
    For Sale
    $1,775,000

    Lots & Land - Northfield, MN

    Lot size:
    11.70 Acres
    Added:
    Mar 24, 2026
    Days on Market:
    51
    Last Refresh:
    May 13 at 1:06 am

    Property Features for Division Street S

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Other,Residential-Multi-Family
    Standard status
    Active
    APN
    2206351008
    Lot size
    11.70 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    2025

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Donavon DesMarais
    Donavon DesMarais

    Listing agent Donavon DesMarais

    Listing office Keller Williams Premier Realty Lake Minnetonka 13100 Wayzata Blvd. #400, Wayzata, MN

    Listing date Mar 24, 2026

    MLS# 7042035 Listing URL

    Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime in‑fill acreage within Northfield city limits.
    • N2‑B zoning allows for residential, mixed‑use, or neighborhood commercial development.
    • Potential for Tax Increment Financing (TIF) from the City of Northfield.
    • Seller financing available for qualified buyers.
    • Unique natural setting with mature trees, wetlands, and wildlife.
    • Centrally located on Division Street, near multiple schools.

    Overview

    This 11.7-acre property presents an exceptional development opportunity within Northfield city limits. The site features mature hardwood trees, wetlands, and seasonal wildlife, offering a unique natural setting in a central and accessible location. Currently zoned N2-B, the property supports a range of potential uses, including residential, mixed-use, or neighborhood commercial developments. Conceptual options include apartment buildings, age-targeted or market-rate housing, townhome or villa-style residences, and select commercial or retail uses, all subject to city approvals. Located on the south side of Northfield along Division Street, the property is situated between Spring Creek and Bridgewater Elementary Schools and Northfield Middle School, with Northfield High School directly across the street. The zoning supports multiple residential and commercial options, allowing for tailored projects that fit community needs and market demand. The City of Northfield may offer Tax Increment Financing (TIF) for qualifying developments, potentially enhancing project feasibility. Seller financing is available, offering additional flexibility for qualified buyers.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Northfield
    County
    Rice
    State
    Minnesota
    Longitude
    -93.1588751
    Latitude
    44.4595232

    Nearby Similar for Sale

    • $15

      Downtown Northfield Office Space

      Professional office space in a vibrant downtown location.
      710 Division Street S, Northfield, MN 55057
      View Details
    • $150,000

      Land in Hazelwood Creek Estates

      2.86 acres of land in Hazelwood Creek Estates subdivision.
      8858 298th Court W, Greenvale Twp, MN 55057
      View Details
    • $899,787

      Northfield Commercial/Industrial Land Parcel

      9.27 acre commercial/industrial land parcel in Northfield, Minnesota.
      Outlot Honeylocust, Northfield, MN 55057
      View Details
    • $236,000

      New Commercial Garage Condos

      New commercial garage condos designed for business and personal use.
      1371 Armstrong Road, Northfield, MN 55057
      View Details
    • $149,500

      Northfield Acreage for Dream Home

      6.76 acre lot in Northfield, build your dream home.
      8882 298th Court W, Northfield, MN 55057
      View Details
    • $5,399,999
      67,930 SF

      Industrial Warehouse with Crane Systems

      High-performing industrial warehouse with modern office space on 6.3 acres.
      1800 Riverview Dr, Northfield, MN
      View Details
    • Contact for pricing
      1,100 SF

      Retail/Office Space on Highway 3

      Prime retail/office space with high visibility and traffic.
      660 Professional Drive, Northfield, MN 55057
      View Details
    • Contact for pricing

      Northfield Commercial Land Opportunity

      Commercial land available in Northfield, Minnesota, with development potential.
      Northfiels, MN 55057
      View Details
    • $170,000

      Land For Sale

      Land available in Northfield, Minnesota.
      8858 298th Court W, Northfield, MN 55057
      View Details
    • Contact for pricing

      I-35 Frontage Commercial Land

      Commercial land with full I-35 access and visibility.
      I-35 & Millersburg Blvd, Northfield, MN
      View Details
    • $479,999

      Land Available in Northfield, MN

      Land for sale at 440 Water St N, Northfield, MN.
      440 Water St N, Northfield, MN
      View Details

    FAQs

    What type of property is this?
    Commercial land - Prime in-fill acreage suitable for residential or commercial development.
    Where is this commercial land located?
    The property is located at Division Street S Northfield, MN.
    What is the asking price?
    The asking price for this property is $1,775,000.
    What are key features of this property?
    This property features: Prime in‑fill acreage within Northfield city limits.; N2‑B zoning allows for residential, mixed‑use, or neighborhood commercial development.; Potential for Tax Increment Financing (TIF) from the City of Northfield.
    (612) 548-4395
    We can help!
    Listing Contact
    Donavon DesMarais
    Donavon DesMarais
    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
    Division Street S, Northfield, MN 55057
    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!