Property profile & analytics
115 Elm St Farmington, MN 55024-1033
- Commercial real estate
- 37,738 SF
- 4.68 lot acres
OFF-MARKET
Value Estimations
$3,475,000
Show details
Cap Rate Potential
Location Intelligence
Property ID
US46-1116510
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
- Reliable Car Transport / Trucking Company
- Weng's Kitchen / Restaurant
- @BAT - Permanently Closed / Arcade & Gaming Center / Sports Field & Court
- Southern Hills Real Estate Inc / Real Estate Agency
- JK's Cards And Collectibles / (Bike/Boat/Book/etc) Store
Property Details for 115 Elm St
- Year built
- 1994
- Construction
- CONCRETE
- Lot size
- 4.68 lot acres
- Property size
- 37,738 SF
- Property type
- Commercial real estate
- APN
- 14-25831-01-031
- APU
- 142583101031
Description
This exceptional retail property, located in the heart of downtown Farmington, MN, offers four suites totaling 14,500 square feet. The property boasts a prime location directly off Highway 50/Elm Street, ensuring high visibility and accessibility for both pedestrian and vehicular traffic. Individual suites range from a minimum of 1,239 square feet to a maximum contiguous space of 3,762 square feet, providing flexibility for various business needs. Currently, 7,491 square feet are available for lease. The property benefits from its position within a thriving commercial area, surrounded by established businesses such as Great Oaks Academy, Kwik Trip, El Charro Mexican Restaurant, and Celts Pub, ensuring a strong customer base. This location combines the historic charm of downtown Farmington with modern conveniences, creating an ideal environment for a diverse range of retail businesses. The property is situated in Dakota County and presents a unique opportunity to establish or expand a business within a dynamic and growing community. The blend of historical ambiance and modern amenities makes this an attractive location for businesses seeking a vibrant and accessible setting. This is more than just a commercial space; it's a chance to become part of Farmington's thriving business landscape.
Value Estimations
based on Realmo’s proprietary methodology
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $3,893,000
- AI Estimate
- $2,503,000
Market price range: $1.74M - $4.78MMarket price range: $967k - $3.04M -
Alternative Use
- Use
- Estimation
- COMMERCIAL (GENERAL)
- $3,135,000 Current use
- WAREHOUSE, STORAGE
- $5,750,000 Change: +83% Conversion: Difficult
- RETAIL STORES
- $5,380,000 Change: +72% Conversion: Easy
- OFFICE BUILDING
- $4,575,000 Change: +46% Conversion: Easy
- APARTMENT HOUSE (5+ UNITS)
- $3,220,000 Change: +3% Conversion: Moderate
Get a detailed, property-specific valuation — fast and free
Location Insight
- Map
- Local Demand
- City
- Farmington
- County
- Dakota
- State
- Minnesota
- Longitude
- -93.1473
- Latitude
- 44.6414
- 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
$69,694
$951,900
$1,375,400
$2,327,300
-
$951,900
$1,375,400
$2,327,300
