Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1828 Market Blvd Hastings, MN 55033-3494

    • Office Properties & Spaces
    • 5,131 SF
    • 1.27 lot acres
    OFF-MARKET
    Value Estimations
    $840,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US46-1593915
    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

    • DaVita Historical Hastings Dialysis / Medical Clinic

    Property Details for 1828 Market Blvd

    Year built
    2003
    Construction
    STEEL FRAME
    Lot size
    1.27 lot acres
    Property size
    5,131 SF
    Property type
    Office Properties & Spaces
    APN
    19-32080-01-040
    APU
    193208001040

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,130,000
      6.5%
      $1,045,000
      7%
      $970,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $844,000
      Market price range: $468k - $844k
      AI Estimate
      $627,000
      Market price range: $194k - $627k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $620,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $1,015,000
      Change: +64% Conversion: Difficult
      RESTAURANT
      $995,000
      Change: +60% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $875,000
      Change: +41% Conversion: Difficult
      WAREHOUSE, STORAGE
      $780,000
      Change: +26% Conversion: Difficult
      RETAIL STORES
      $730,000
      Change: +18% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Hastings
    County
    Dakota
    State
    Minnesota
    Longitude
    -92.8934
    Latitude
    44.7378
    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
    $36,586
    $465,400
    $755,900
    $1,221,300
    -
    $465,400
    $755,900
    $1,221,300

    Comparable in this City

    • Value Estimation by Request
      14,976 SF

      12335 Margo Ave

      Distribution properties • 14,976 SF
      12335 Margo Ave, Hastings, MN 55033
      View Details
    • Value Estimation
      $3,665,000
      39,344 SF

      1285 Nininger Rd

      CONDOMINIUM OFFICES • 39,344 SF
      1285 Nininger Rd, Hastings, MN 55033-1086
      View Details
    • Value Estimation
      $835,000
      6,152 SF

      117 3rd W St

      CONDOMINIUM OFFICES • 6,152 SF
      117 3rd W St, Hastings, MN 55033-1116
      View Details
    • Value Estimation
      $3,805,000
      36,427 SF

      1210 1st W St

      CONDOMINIUM OFFICES • 36,427 SF
      1210 1st W St, Hastings, MN 55033-1147
      View Details
    • Value Estimation
      $750,000
      5,677 SF

      825 Bahls Dr

      CONDOMINIUM OFFICES • 5,677 SF
      825 Bahls Dr, Hastings, MN 55033-2573
      View Details
    • Value Estimation
      $865,000
      6,528 SF

      1011 Frontage Rd

      CONDOMINIUM OFFICES • 6,528 SF
      1011 Frontage Rd, Hastings, MN 55033-2662
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,320 SF

      Adaptable Flex Space with Showroom

      Flex space featuring offices, showroom, and climate-controlled warehousing.
      800 10Th St E, Hastings, MN 55033
      View Details
    • $1,849,000
      16,600 SF

      Hastings Office Building For Sale

      16,600 SF office building available in Hastings, Minnesota.
      1303 S Frontage Rd, Hastings, MN 55033
      View Details
    • Contact for pricing
      1.25 Acres

      Hastings Professional Building Office Space

      Office space for lease in a highly visible Hastings location.
      1250 N Frontage Rd, Hastings, MN 55033
      View Details
    • Contact for pricing
      3.88 Acres

      Cottage Grove Commercial Land

      3.877 Acres, Prime Development Site
      11991 120Th St, Hastings, MN 55033
      View Details
    • Contact for pricing
      98,580 SF

      Modern Industrial Space in Hastings

      98,580 sqft industrial space with heavy power in Hastings, MN.
      800 10Th St East, Hastings, MN 55033
      View Details
    • $1,650,000

      71 Acres Development Land

      71 acres of land suitable for development.
      Red Wing Blvd, Hastings, MN 55033
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      20,564 SF

      Hastings Executive Office Suites

      Modern Office Space, 9,063 SF Available
      1640 Frontage Rd, Hastings, MN 55033
      View Details
    • $18 SF/Yr
      2,016 SF

      Highway 55 Office Space Available

      Office space for rent, excellent signage, close to amenities.
      1640 S Frontage Rd, Hastings, MN 55033
      View Details
    • $17 SF/Yr
      2,051 SF

      Office Space Near Highway 55

      Office space with convenient access and proximity to amenities.
      1320 S Frontage Rd, Hastings, MN 55033
      View Details
    • Contact for pricing

      Modern Industrial Space in Hastings

      Full-featured industrial space with heavy power and flexible configurations.
      800 10Th St East, Hastings, MN 55033
      View Details
    • Contact for pricing
      2,737 SF

      Functional Warehouse Space in Hastings

      Versatile warehouse with office space, heated and air-conditioned.
      1313-1325 S Frontage Rd, Hastings, MN 55033
      View Details
    • $10 SF/Yr
      1,440 SF

      Hastings Industrial Park Office Space

      Office space available in Hastings, MN Industrial Park.
      725 Spiral Blvd, Hastings, MN 55033
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1828 Market Blvd
    Hastings, MN 55033-3494
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    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
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.