Property profile

2237 N State St Fairmont, MN 56031

FOR SALE
Other commercial real estate
Property ID
US46-2839249
3.67 ac lot Built 1988
Entity Owned 3-yr Hold Free & Clear
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Property summary

AI-generated overview

The property is a 1.3-acre commercial site located on North State Street near Interstate 90 in Fairmont, Minnesota, with more than 215 feet of highway frontage and direct access to I-90 via the N State Street corridor. The existing building has an approximate gross size of 1,540 square feet. The site is relatively level and provides outdoor space suitable for parking and potential expansion. It is generally adaptable to multiple commercial and light industrial uses, including configurations consistent with a fuel station, convenience store, automotive-related business, light industrial operation, or broader commercial redevelopment, with suitability for retail, service, or mixed-use development along N State Street. An adjacent 2.36-acre parcel to the east is nearby, which may allow the site to be assembled into a larger combined development area.

Property profile

Verified
Property type Other commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 1988
Lot 3.67 ac (159,996 SF)
APN 23.037.1150
UPID US46-2839249

Cap rate & NOI

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

Location

2237 N State St Fairmont, MN 56031
Fairmont metro Census 790600 FAIRMONT, MN MICROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$395k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$425k

Owner & transaction history

since 2023
Last sale
$420,000
2 recorded transactions
2023
$420,000
2023
$420,000

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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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