498 7Th Ave Newport, MN 55055
This exceptional 3.57-acre commercial land parcel presents a compelling development opportunity in Newport, Minnesota. Located in a thriving east metro area, this property boasts a highly desirable B2 zoning, permitting light industrial uses. Completed environmental work streamlines the development process, while the city's pro-growth environment fosters a supportive atmosphere for new ventures. Ideal for projects such as mini-storage facilities (auto repair and body shops excluded per zoning). The site enjoys excellent visibility from the highway and convenient access to major transportation arteries, including I-494, Minneapolis-St. Paul International Airport, St. Paul Airport, and the Mall of America. The property's strategic location near Glen Road and Highway 61 ensures seamless connectivity and accessibility. The asking price is $970,220. This offering comprises four parcels totaling approximately 155,239 square feet (3.57 acres) with individual parcel sizes of 20,644 SF, 44,828 SF, 38,367 SF, and 51,400 SF. This is a rare chance to acquire a significant land holding in a rapidly growing market. Don't miss this chance to capitalize on this prime development opportunity.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.