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    Property profile & analytics

    1215 7th St Lake City, MN 55041-1267

    • Office buildings
    • 14,300 SF
    • 0.96 lot acres
    OFF-MARKET
    Value Estimation
    $345,000
    Last Sale
    May 19, 2021
    $315,000
    Location Intelligence
    Property ID
    US46-3000536
    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

    • Goihl Chiropractic / Chiropractor
    • Rivers Edge Wellness / Yoga Instructor / Massage Therapist
    • ActivePT - Lake City / Physical Therapy Clinic / Medical Clinic
    • Balanced Body Massage and spa / Massage Spa

    Property Details for 1215 7th St

    Year built
    2003
    Lot size
    0.96 lot acres
    Property size
    14,300 SF
    Property type
    Office buildings
    APN
    R22.01852.00
    APU
    R220185200

    Description

    This exceptional Lake City, Minnesota commercial property presents a unique investment opportunity. The 18,000 square foot building, constructed in 2005, sits on a 0.96-acre lot and is classified as a Class B mixed-use property with creative office, distribution, and flex space subtypes. The single-story building features a metal frame construction and offers 18-foot ceilings. Currently configured into four leasable units (ranging from 530 to 3305 square feet), the property provides flexibility for various business needs. Individual heating sources and meters are installed for each unit, promoting efficiency. Shared amenities include restrooms and a lunchroom. Ample asphalt parking is available, and the high-visibility location on 7th Street offers excellent signage potential. The asking price is $1,500,000, translating to $83.33 per square foot. The property is zoned for industrial use and is privately owned. This is a multi-tenant property with no loading docks or dock-high doors. The lease type is modified, and tenant credit is not available. This presents a strong opportunity for investors seeking a versatile and well-located commercial property in a thriving Minnesota market.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $375,000

    • CAP approach

      CAP return
      Estimation
      6%
      $325,000
      6.5%
      $325,000
      7%
      $325,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $310,000
      Geo Method
      $320,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $275,000
      Retail
      $310,000
      Mixed-Use
      $350,000
      Hospitality
      $290,000
      Educational
      $310,000
      Residential Income
      $265,000
      Energy
      $280,000
      Income-Based Land
      $275,000
      Food Service
      $260,000

    Location Insight

    • Map
    • Local Demand
    City
    Lake City
    County
    Wabasha
    State
    Minnesota
    Longitude
    -92.2859
    Latitude
    44.4546
    CBSA code
    40340
    CBSA name
    ROCHESTER, MN 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
    2024
    $8,698
    $36,800
    $322,800
    $359,600
    -
    $36,800
    $322,800
    $359,600

    Comparable in this City

    • Value Estimation
      $2,825,000
      1,500 SF

      Lake

      OFFICE BUILDING • 1,500 SF
      Lake, City, MN 55041
      View Details
    • Value Estimation
      $615,000
      14,300 SF

      1215 7th St

      OFFICE BUILDING • 14,300 SF
      1215 7th St, Lake City, MN 55041-1267
      View Details
    • Value Estimation
      $260,000
      1,000 SF

      106 Washington St

      OFFICE BUILDING • 1,000 SF
      106 Washington St, Lake City, MN 55041-1034
      View Details
    • Value Estimation by Request
      1,877 SF

      1005 Marion St

      OFFICE BUILDING • 1,877 SF
      1005 Marion St, Lake City, MN 55041-2051
      View Details
    • Value Estimation by Request
      960 SF

      514 8th St

      OFFICE BUILDING • 960 SF
      514 8th St, Lake City, MN 55041-1717
      View Details
    • Value Estimation
      $200,000
      780 SF

      1105 7th St

      OFFICE BUILDING • 780 SF
      1105 7th St, Lake City, MN 55041-1263
      View Details

    Similar Nearby for Sale

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      Well-Built Commercial Property For Sale

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    Lake City, MN 55041-1267
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    Realmo Value Estimation

    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.

    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.

    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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