Property Lookup
Property Lookup
  • For Sale
  • For Lease
  • Recently Sold
  • Property Lookup
  • Brokers
Property profile & analytics

6319 Penn Ave Minneapolis, MN 55423

  • Commercial real estate
  • 0.12 lot acres
Value Estimation
Location Intelligence
Property ID
US46-0685375
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

Current Use by Public Records

  • Vale-Typewriter Inc / Office Supply Store / Typewriter Supplier

Property Details for 6319 Penn Ave

Year built
1957
Construction
CONCRETE BLOCKS
Lot size
0.12 lot acres
Property type
Commercial real estate
APN
28-028-24-22-0130
APU
2802824220130

Description

This exceptional commercial property, located at 6319 Penn Avenue South in Richfield, Minnesota, presents a unique investment opportunity. Boasting a generous 1,600 square feet of space situated on a sizable 0.12-acre lot, this property offers significant potential for a variety of commercial uses. The building's versatile layout allows for customization to suit diverse business needs. Its strategic location on Penn Avenue South provides excellent visibility and accessibility, ensuring high traffic flow and convenient access for customers and employees. Richfield's thriving business community and strong infrastructure further enhance the property's appeal. The asking price of $500,000 represents a compelling value for a property of this size and location in a desirable market. This is an ideal opportunity for entrepreneurs and investors seeking a well-positioned commercial space with significant growth potential. The property's size and location make it suitable for a range of businesses, from retail establishments to professional offices. Serious inquiries are encouraged to explore the possibilities this property offers. Detailed property information and specifications are available upon request. Don't miss this chance to acquire a prime commercial asset in a dynamic and growing area. Act quickly, as opportunities like this are rare.

Value Estimation

by Realmo proprietary methodology Last update: July 3, 2025
  • AI approach

    CAP return
    Estimation
    Estimation
    $245,000
  • CAP approach

    CAP return
    Estimation
    6%
    $275,000
    6.5%
    $315,000
    7%
    $310,000
  • Comparable approach

    Method
    Estimation
    Relative Method
    $270,000
    Geo Method
    $295,000
  • Alternative Use

    Use
    Estimation
    Distribution
    $245,000
    Retail
    $245,000
    Mixed-Use
    $235,000
    Hospitality
    $290,000
    Educational
    $285,000
    Residential Income
    $310,000
    Energy
    $285,000
    Income-Based Land
    $315,000
    Food Service
    $285,000

Location Insight

  • Map
  • Local Demand
City
Richfield
County
Hennepin
State
Minnesota
Longitude
-93.3083
Latitude
44.8883
CBSA code
33460
CBSA name
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$10,833
$116,000
$279,000
$395,000
-
$116,000
$279,000
$395,000
More about this property
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Please enter message