1619 Main St Albert Lea, MN 56007
- Commercial real estate
- 6.64 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 1619 Main St
- Lot size
- 6.64 lot acres
- Property type
- Commercial real estate
- APN
- 34.163.0030
- APU
- 341630030
Description
This exceptional 1.5-acre commercial land parcel presents a prime redevelopment opportunity in Albert Lea, Minnesota. Located at 1619 W Main St, 56007, this property boasts unparalleled visibility and accessibility, directly fronting a four-lane highway and offering convenient two-way access. Its strategic location near Interstate 90 ensures high traffic volume and excellent exposure for any retail development. The site is situated within a thriving area experiencing significant residential growth, adjacent to over 50 newly constructed multi-family units. Nearby established businesses include Bomgaars and a local liquor store, creating a strong commercial synergy. The property offers shared parking, easing the burden of development. For developers seeking assistance, the current owners are available to provide support during the construction phase. This location offers exceptional pedestrian access and visibility, making it ideal for a variety of retail uses. Further enhancing its appeal, the possibility of securing funding through a revolving loan fund is available via Growalbertlea.com. This is a rare opportunity to capitalize on a high-traffic, high-visibility location in a rapidly developing area. Don't miss this chance to establish a successful retail presence in Albert Lea.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,305,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,345,000
- 6.5%
- $1,185,000
- 7%
- $1,160,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,255,000
- Geo Method
- $1,110,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,330,000
- Retail
- $1,365,000
- Mixed-Use
- $1,390,000
- Hospitality
- $1,245,000
- Educational
- $1,375,000
- Residential Income
- $1,250,000
- Energy
- $1,075,000
- Income-Based Land
- $1,400,000
- Food Service
- $1,390,000
Location Insight
- Map
- Local Demand
- City
- Albert Lea
- County
- Freeborn
- State
- Minnesota
- Longitude
- -93.3874
- Latitude
- 43.6446
- CBSA code
- 10660
- CBSA name
- ALBERT LEA, MN MICROPOLITAN STATISTICAL AREA
