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    Labeaux Ave Hanover, MN 55341

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    Labeaux Ave Hanover, MN 55341

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    • Retail properties & Spaces

    Property Details for 0 Labeaux Ave

    Property type
    Retail properties & Spaces
    Property subtype
    Land

    Description

    This exceptional 14.23-acre commercial lot presents a remarkable development opportunity in Hanover, Minnesota. Located on County Road 19, this property boasts exceptional visibility and accessibility, making it ideal for a wide range of commercial ventures. Zoned for commercial redevelopment and retail uses, the possibilities are extensive. The asking price is $900,000. The property's address is Labeaux Ave NE, Hanover, MN 55341, with GPS coordinates of 45.1657778 latitude and -93.6659622 longitude. This substantial parcel offers developers a chance to capitalize on a high-traffic location within a thriving community. The expansive acreage allows for significant build-out potential, catering to large-scale projects or the creation of multiple commercial units. Given its prime location and zoning, this property represents a compelling investment for those seeking a high-impact commercial development project in a desirable Minnesota market. Serious inquiries are encouraged to explore the full potential of this exceptional land offering. The property is classified as commercial land suitable for redevelopment and retail purposes. This is a rare opportunity to acquire a significant land parcel in a growing area with excellent visibility and access.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Hanover
    County
    Wright
    State
    Minnesota
    Longitude
    -93.666
    Latitude
    45.1658

    Comparable in this City

    • Value Estimation by Request
      103.46 Acres

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      Land • 103.46 Acres
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    • Value Estimation by Request
      3,717 SF

      329 Labeaux Ave

      CONVENIENCE STORE • 3,717 SF
      329 Labeaux Ave, Hanover, MN 55341-4091
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    • Value Estimation
      $615,000
      3,912 SF

      11243 Riv NE Rd

      AUTO REPAIR, GARAGE • 3,912 SF
      11243 Riv NE Rd, Hanover, MN 55341-4022
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    • Value Estimation
      $785,000
      7,068 SF

      11079 Lamont NE Ave

      AUTO REPAIR, GARAGE • 7,068 SF
      11079 Lamont NE Ave, Hanover, MN 55341-4063
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    • Value Estimation by Request
      3,481 SF

      11000 Riv NE Rd

      FINANCIAL BUILDING • 3,481 SF
      11000 Riv NE Rd, Hanover, MN 55341-4099
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    • Value Estimation
      $585,000
      9,000 SF

      11039 Lamont NE Ave

      AUTO REPAIR, GARAGE • 9,000 SF
      11039 Lamont NE Ave, Hanover, MN 55341-4063
      View Details

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    • Contact for pricing

      Land For Sale

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      10701 Beebe Lake Rd NE, Hanover, MN 55341
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    • $750,000
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      Spacious Industrial Building in Hanover

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      Hanover Commercial Property for Sale

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    Labeaux Ave
    Hanover, MN 55341
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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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    Labeaux Ave, Hanover, MN, 55341

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