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    634 County Hwy Blaine, MN 55434
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    634 County Hwy, Blaine, MN 55434

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    • Neighborhood centers
    • 129,961 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Neighborhood centers

    Property Details for 634 County Hwy

    Property type
    Neighborhood centers
    Property subtype
    Retail properties & Spaces

    Description

    Northcourt Commons, a 129,961 square foot neighborhood shopping center in Blaine, Minnesota, offers exceptional retail space. Located at 634 County Hwy 10, zip code 55434, this prime strip center boasts a desirable location adjacent to Northtown Mall, placing it within a high-traffic retail hub. Three spaces are currently available, ranging from a minimum of 1,493 square feet to a maximum contiguous space of 10,176 square feet. The center benefits from a strong tenant mix and is surrounded by established retailers including Target, Cub Foods, Home Depot, and LA Fitness, ensuring high visibility and foot traffic. This presents a unique opportunity for businesses seeking a thriving retail environment in a well-established commercial area of Blaine. The property's strategic location and the presence of major retailers create a synergistic environment, ideal for attracting customers and building a successful business. The flexible space options cater to a variety of retail needs, making Northcourt Commons an attractive investment for businesses of all sizes. This is a chance to establish a presence in a bustling retail corridor with significant potential for growth and profitability. Contact us today to learn more about the available spaces and leasing options.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Blaine
    County
    Anoka
    State
    Minnesota
    Longitude
    -93.2552
    Latitude
    45.1255

    Comparable in this City

    • Value Estimation by Request

      389 Northtown Dr

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      398 Northtown Dr

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      105,561 SF

      10731-10881 University Ave

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      14,895 SF

      600 County Rd

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      600 County Rd, Blaine, MN 55434
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      200 SF

      398 Northtown Dr

      Restaurants
      398 Northtown Dr, Blaine, MN 55434
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    Similar Nearby for Sale

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      5,663 SF

      Freestanding Restaurant Near Northtown Mall

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      Northtown Mall Retail Opportunity

      Retail opportunity in Blaine, Minnesota with consumer draw.
      389 Northtown Dr NE, Blaine, MN 55434
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      30,499 SF

      Prime Retail Location Near Northtown

      High-visibility retail property near Northtown Mall in Blaine, Minnesota.
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      12,250 SF

      Retail Building in Blaine, MN

      Single-story retail building with high visibility and easy access.
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      Land in Northtown Mall Area

      Land with excellent visibility in a successful mall area.
      Northtown Dr NE, Blaine, MN 55434
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      Prime Land Near Highway 65

      1.36 acres of commercial land with high traffic visibility.
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    Similar Nearby for Lease

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      Retail Space Near Northtown Mall

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      Grocery Anchored Shopping Center Space

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      1,680 SF

      Retail Space in High-Traffic Area

      Neighborhood shopping center space available near Northtown Mall.
      634-784 County Road 10 NE, Blaine, MN 55434
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      6,240 SF

      Retail Space in Northtown

      Retail spaces available, shadow-anchored by Home Depot and Cub Foods.
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      Retail Space Near Highway 65

      Retail space available in a high-traffic Blaine location.
      12555 Ulysses St NE, Blaine, MN 55434
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      3,000 SF

      Retail Space on Jefferson Street

      Retail space with high visibility and signage opportunities available for lease.
      11700 Jefferson St NE, Blaine, MN 55434
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    634 County Hwy
    Blaine, MN 55434
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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.

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