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    Highway 23 Cold Spring, MN 56320
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    Highway 23 Cold Spring, MN 56320

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    • Land
    • 5.62 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Highway 23

    Lot size
    5.62 lot acres
    Property type
    Land

    Description

    This exceptional 5.62-acre commercial land parcel presents a unique investment opportunity in Cold Spring, Minnesota. Strategically located on Highway 23, this property boasts excellent visibility and accessibility, ensuring high traffic exposure for any commercial venture. Situated within the thriving River Links Development, the land benefits from its proximity to a well-established residential community of approximately 215 lots, complete with parks and walking paths. The property's General Commercial zoning allows for a wide range of development possibilities, catering to diverse business needs. The location offers easy access to the heavily trafficked Highway 23, providing convenient commutes for employees and customers alike. This prime location within the rapidly expanding city limits of Cold Spring ensures strong future growth potential. The land is priced at $3 per square foot, representing a compelling value proposition for developers and investors seeking a strategic foothold in this dynamic market. The immediate proximity to the River Links entrance provides exceptional visibility and potential for synergistic business opportunities. This parcel offers significant potential for a variety of commercial uses, making it an ideal investment for those seeking high-impact exposure and strong community ties. The property's size and location make it an attractive option for businesses seeking to establish a presence in a growing area with excellent infrastructure and access to a substantial residential population.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Cold Spring
    County
    Stearns
    State
    Minnesota
    Longitude
    -94.4076
    Latitude
    45.459

    Comparable in this City

    • Value Estimation
      $750,000
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      1351 Broadway W St

      COMMERCIAL (GENERAL) • 4,368 SF
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    • Value Estimation by Request
      2,400 SF

      Cold Spring, MN 56320

      COMMERCIAL (GENERAL) • 2,400 SF
      Cold Spring, MN 56320
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    • Value Estimation
      $995,000
      5,311 SF

      Cold Spring, MN 56320

      COMMERCIAL (GENERAL) • 5,311 SF
      Cold Spring, MN 56320
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    • Value Estimation by Request
      1,200 SF

      130 10th NE St

      COMMERCIAL (GENERAL) • 1,200 SF
      130 10th NE St, Cold Spring, MN 56320
      View Details
    • Value Estimation
      $1,560,000
      12,360 SF

      104 10th NE St

      COMMERCIAL (GENERAL) • 12,360 SF
      104 10th NE St, Cold Spring, MN 56320-4564
      View Details
    • Value Estimation by Request
      4,370 SF

      21614 County Rd

      Commercial real estate • 4,370 SF
      21614 County Rd, Rockville, MN 56320
      View Details

    Similar Nearby for Sale

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      Residential Land in Cold Spring

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      Residential Land in Cold Spring

      Premier residential development land available in Cold Spring, Minnesota.
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    Highway 23
    Cold Spring, MN 56320
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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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