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1400 Hwy 23 Ogilvie, MN 56358-9066

OFF-MARKET Commercial real estate Google Maps
4 ac lot
Entity Owned Absentee Owner Free & Clear
Estimated value (blended)
$235k
Range $212k – $259k (±10%)
Property ID US46-2148011

Property summary

AI-generated overview

Exceptional 4-acre commercial land opportunity in Ogilvie, Minnesota, listed at $465,000. This high-visibility site boasts 2,400 square feet and is ideally situated at the busy intersection of State Highway 23 and State Highway 47, experiencing over 6,000 vehicles daily according to MnDOT traffic counts. Its location within city limits offers convenient access to utilities, with a drilled well already on-site, and city sewer and water readily available nearby. The property's adjacency to the Ogilvie K-12 school system and proximity to the Ogilvie Raceway (approximately 1 mile) provide significant advantages. The site's high traffic volume makes it perfect for various commercial ventures, including gas stations, convenience stores, fast-food restaurants, grocery stores, or storage facilities. Its appeal extends to both summer lake recreation and winter sports enthusiasts. Adding to its potential, the property includes six billboards on two monopole pylons owned by Lamar, offering potential for future lease income. A 60x40 pole building is also included, providing flexibility for repurposing or removal. This prime location presents endless possibilities for developers and investors seeking a high-impact commercial investment.

Property profile

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Lot 4 ac (174,240 SF)
APN 23.00057.00
UPID US46-2148011

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$235k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$235k

Owner & transaction history

since 2025
3 recorded transactions
2025
$170,660
2021
Price N/A
2019
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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