Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    216 1st S St Montgomery, MN 56069-1602
    Back to Search
    Property profile & analytics

    216 1st S St Montgomery, MN 56069-1602

    View on Map
    • Industrial properties
    • 2,450 SF
    • 0.08 lot acres
    Off-Market
    Property ID
    US46-2275305
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • PinCurls Salon / Hair Salon

    Property Details for 216 1st S St

    Lot size
    0.08 lot acres
    Property size
    2,450 SF
    Property type
    Industrial properties
    Property subtype
    Industrial live-work properties
    APN
    22.470.0780
    APU
    224700780

    Description

    This charming, mixed-use commercial building in Montgomery, Minnesota, presents a rare investment opportunity. Located at 216 1st St S, this single-story, 1925-built storefront offers approximately 1,000 square feet of versatile space, currently configured as a salon. The property boasts numerous recent upgrades, including a brand-new furnace and air conditioner installed in 2024, and an updated electrical panel (redone 7 years prior). The existing salon setup meets all state licensing requirements, featuring hard flooring, hair washing stations, a washer and dryer, and a separate, sizable private office. Beyond the finished salon area, ample space is available for expansion or storage. The building's convenient location ensures high visibility and accessibility for customers. Currently occupied by month-to-month tenants, this property offers flexibility for new owners to negotiate leases or pursue alternative business ventures. Its historical significance adds unique character and potential for further development. Priced affordably at $148,000, this property is ideal for entrepreneurs seeking a turn-key operation or investors looking for a strong return. The property is zoned for mixed-use, office, retail, and special purpose.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Montgomery
    County
    Le Sueur
    State
    Minnesota
    Longitude
    -93.5815
    Latitude
    44.437
    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
    2022
    $884
    $20,900
    $23,400
    $44,300
    -
    $20,900
    $23,400
    $44,300

    Comparable in this City

    • Value Estimation by Request
      2,730 SF

      102 1st S St

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 2,730 SF
      102 1st S St, Montgomery, MN 56069-1645
      View Details
    • Value Estimation
      $1,465,000
      8,469 SF

      125 1st S St

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 8,469 SF
      125 1st S St, Montgomery, MN 56069-1644
      View Details
    • Value Estimation by Request
      970 SF

      101 1st N St

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 970 SF
      101 1st N St, Montgomery, MN 56069-1533
      View Details
    • Value Estimation by Request
      5,832 SF

      409 4th NW St

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 5,832 SF
      409 4th NW St, Montgomery, MN 56069-1081
      View Details
    • Value Estimation
      $555,000
      3,192 SF

      404 4th NW St

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 3,192 SF
      404 4th NW St, Montgomery, MN 56069-1002
      View Details
    • Value Estimation by Request
      3,600 SF

      238 Montgomery SW Ave

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 3,600 SF
      238 Montgomery SW Ave, Montgomery, MN 56069-4245
      View Details

    Similar Nearby for Sale

    • $650,000
      0.52 Acres

      Upgraded Commercial Property in Montgomery

      Versatile commercial space suitable for warehouse, shop, or mixed-use.
      104 Oak Ave SW, Montgomery, MN 56069
      View Details
    • $1,200,000
      199.93 Acres

      199 Acre Recreational Property

      Private wildlife haven near Montgomery, Minnesota, ideal for hunting.
      36999 141St Ln, Montgomery, MN 56069
      View Details
    • $189,900
      1,307 SF

      410 4Th St, Montgomery, MN 56069

      Commercial real estate • 1,307 SF
      410 4Th St, Montgomery, MN 56069
      View Details
    • $549,900
      0.16 Acres

      Historic Hotel with Bar Establishment

      Turn-key hotel with bar, restaurant, and rental rooms.
      222 1St St S, Montgomery, MN 56069
      View Details
    • $849,000
      80.64 Acres

      80+ Acre Buildable Land Parcel

      80.64 acre land parcel with buildable sites near Lonsdale.
      9511 Jasper Trl, Montgomery, MN 56069
      View Details
    • New
      Contact for pricing
      0.11 Acres

      Residential Lot in Established Neighborhood

      Prime residential lot for new construction in Montgomery, Minnesota.
      201 Boulevard Ave NE, Montgomery, MN 56069
      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.
    216 1st S St
    Montgomery, MN 56069-1602
    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

    Thank You for Inquiry
    216 1st S St, Montgomery, MN, 56069
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!