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    9th Ave Hibbing, MN 55746

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    9th Ave Hibbing, MN 55746

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    • Retail properties & Spaces
    • 4,921 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 9th Ave

    Year built
    2006
    Property size
    4,921 SF
    Property type
    Retail properties & Spaces

    Description

    This exceptional retail opportunity presents itself in the form of the Hibbing Marketplace, a well-maintained strip center totaling 4,921 square feet, constructed in 2006. Located at 9th Avenue West in Hibbing, Minnesota, 55746, this property boasts a highly visible location along the busy Highway 169 corridor, benefiting from its proximity to major retailers such as Super Walmart and Lowe's. The center offers ample parking with 110 spaces available for customers and employees. Currently, there are two suites available, providing flexibility for businesses of varying sizes. The minimum divisible space is 1,158 square feet, while the maximum contiguous space available is 2,563 square feet. A significant portion of the building is currently vacant, totaling 3,721 square feet, presenting a unique chance for expansion or a new business venture. This property is situated in St. Louis County and offers a strong potential for success due to its high-traffic location and synergistic neighboring businesses. The property's excellent visibility and convenient access make it an ideal location for a variety of retail, office-service, or restaurant businesses seeking to establish or expand their presence in the thriving Hibbing business community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Hibbing
    County
    St. Louis
    State
    Minnesota
    Longitude
    -92.9521
    Latitude
    47.4001

    Comparable in this City

    • Value Estimation by Request
      1,158 SF

      102 9Th Ave

      Retail properties & Spaces • 1,158 SF
      102 9Th Ave, Hibbing, MN 55746
      View Details
    • Value Estimation by Request
      2,563 SF

      105 9Th Ave

      Retail properties & Spaces • 2,563 SF
      105 9Th Ave, Hibbing, MN 55746
      View Details
    • Value Estimation
      $1,060,000
      12,500 SF

      2232 1st Ave

      RETAIL STORES (PERSONAL SERVICES) • 12,500 SF
      2232 1st Ave, Hibbing, MN 55746-1902
      View Details
    • Value Estimation
      $1,370,000
      16,500 SF

      107 Howard St

      RETAIL STORES (PERSONAL SERVICES) • 16,500 SF
      107 Howard St, Hibbing, MN 55746-1535
      View Details
    • Value Estimation by Request
      1,752 SF

      2314 1st Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,752 SF
      2314 1st Ave, Hibbing, MN 55746-1904
      View Details
    • Value Estimation by Request
      0.08 Acres

      2016 1St Ave

      Mixed-use properties • 0.08 Acres
      2016 1St Ave, Hibbing, MN 55746
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,563 SF

      Hibbing Marketplace Retail/Office Opportunity

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      105 9Th Ave W, Hibbing, MN 55746
      View Details
    • $850,000
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      Hibbing Car Wash For Sale

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      Former Regional Mall Opportunity

      Confidential off-market offering: a former regional mall.
      990 41St St, Hibbing, MN 55746
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    • New
      $79,900
      15,619 SF

      Versatile Commercial Structure in Hibbing

      Expansive former church with redevelopment potential in Hibbing, Minnesota.
      2201 2Nd Ave E, Hibbing, MN 55746
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    • $59,900
      0.95 Acres

      Residential Lots in Hibbing, MN

      Two residential lots, ideal for building a new home.
      Tbd Riverview Dr, Hibbing, MN 55746
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    • Contact for pricing
      0.37 Acres

      Residential Land in Hibbing, MN

      Residential land for single-family homes with trail access.
      W 10Th Ave, Hibbing, MN 55746
      View Details
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    Hibbing, MN 55746
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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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