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    Property profile & analytics

    122 State Highway 11 Greenbush, MN 56726

    • Retail properties
    • 1,576 SF
    • 0.14 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties

    Property Details for 122 State Highway 11

    Year built
    2010
    Lot size
    0.14 lot acres
    Property size
    1,576 SF
    Property type
    Retail properties

    Description

    This exceptional 1,576 square foot retail property, situated on a 0.14-acre lot at 122 State Highway 11 East in Greenbush, Minnesota, presents a remarkable investment opportunity. Constructed in 2010, the building boasts a pristine condition and is ideally positioned for high visibility and accessibility along a major thoroughfare. The interior features a spacious layout perfect for a variety of retail uses, complemented by modern amenities including central air conditioning for year-round comfort. Heating is provided by a reliable propane forced air furnace, enhanced by the luxury of hot water underfloor heating. A convenient half-bathroom is included, and a drive-through window adds significant operational flexibility, ideal for quick service or convenient customer transactions. The property's excellent condition and strategic location make it an attractive prospect for entrepreneurs seeking a turnkey retail space or investors looking for a strong return. This is a rare opportunity to acquire a well-maintained, modern commercial building in a desirable location. The property is ready for immediate occupancy and offers endless possibilities for a thriving business. Don't miss this chance to own a piece of Greenbush's commercial landscape.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Greenbush
    County
    Roseau
    State
    Minnesota
    Longitude
    -96.177
    Latitude
    48.7009

    Comparable in this City

    • Value Estimation
      $250,000
      3,200 SF

      120 Hwy 11th E

      RETAIL STORES (PERSONAL SERVICES) • 3,200 SF
      120 Hwy 11th E, Greenbush, MN 56726-4500
      View Details
    • Value Estimation
      $230,000
      2,970 SF

      234 State Hwy 11th E

      RETAIL STORES (PERSONAL SERVICES) • 2,970 SF
      234 State Hwy 11th E, Greenbush, MN 56726
      View Details
    • Value Estimation
      $245,000
      542 SF

      182 Main N St

      BARBER, HAIR SALON • 542 SF
      182 Main N St, Greenbush, MN 56726
      View Details
    • Value Estimation
      $240,000
      6,012 SF

      120 Hwy 11th E

      CONVENIENCE STORE • 6,012 SF
      120 Hwy 11th E, Greenbush, MN 56726-4500
      View Details
    • Value Estimation
      $280,000
      4,104 SF

      183 Main N St

      BAR, TAVERN • 4,104 SF
      183 Main N St, Greenbush, MN 56726
      View Details
    • Value Estimation
      $225,000
      1,536 SF

      122 Hwy 11th E

      RETAIL STORES (PERSONAL SERVICES) • 1,536 SF
      122 Hwy 11th E, Greenbush, MN 56726-4500
      View Details

    Similar Nearby for Sale

    • $99,900
      2,804 SF

      Greenbush Main Street Commercial Space

      Large building, great potential, prime location.
      307 Main St, Greenbush, MN 56726
      View Details
    • $158,500
      1,500 SF

      Greenbush Commercial Land - $158,500

      Prime Commercial Lot, Highway 11 Frontage
      122 State Hwy 11, Leo, MN 56726
      View Details
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    122 State Highway 11
    Greenbush, MN 56726
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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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