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    224 S Main St Zumbrota, MN 55992

    • Retail space
    • 4,692 SF
    For Sale
    View listing
    $394,900
    Last Sale
    Mar 04, 2021
    $325,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US46-1184367
    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

    • Chubby Chique Boutique / Plus Size Clothing Store
    • ID Games / Game Store

    Property Details for 224 S Main St

    Year built
    1940
    Property size
    4,692 SF
    Property type
    Retail space
    APN
    72.100.1330
    APU
    721001330

    Description

    This exceptional commercial property at 224 S Main St, Zumbrota, MN 55992, offers a unique opportunity to lease retail or office space in a high-traffic downtown location. The building, constructed in 1940, boasts a total of 4,692 square feet across two stories and comprises multiple units suitable for a variety of businesses. One street-level unit offers approximately 1,056 square feet, including a small kitchenette, while another street-level space provides approximately 460 square feet with excellent window visibility. A third, larger space (approximately 3,500 square feet) is available in the lower level, ideal for light manufacturing, storage, or industrial uses, featuring a dedicated garage door. This property sits on a busy intersection, ensuring high visibility and accessibility for your business. The versatile spaces are perfect for professional, retail, or office businesses seeking a prominent location in the heart of Zumbrota. The building's prime location and multiple unit options provide flexibility for various business needs and sizes. This is an excellent opportunity to establish or expand your business in a thriving community. The property's history adds character, while its modern adaptability ensures it meets the needs of today's businesses. Don't miss this chance to secure a space in this desirable downtown Zumbrota location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $300,000
      ML approach
      $300,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $315,000
      Market price range: $190k - $316k
      AI Estimate
      $338,000
      Market price range: $145k - $338k

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

    Location Insight

    • Map
    • Local Demand
    City
    Zumbrota
    County
    Goodhue
    State
    Minnesota
    Longitude
    -92.6695
    Latitude
    44.2948
    CBSA code
    39860
    CBSA name
    RED WING, MN MICROPOLITAN 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
    $7,020
    $57,600
    $208,800
    $266,400
    -
    $57,600
    $208,800
    $266,400

    Comparable in this City

    • Value Estimation
      $385,000
      19,352 SF

      228 Ww Ave

      RETAIL STORES (PERSONAL SERVICES) • 19,352 SF
      228 Ww Ave, Zumbrota, MN 55992-1548
      View Details
    • Value Estimation
      $240,000
      3,196 SF

      Zumbrota, MN 55992

      RETAIL STORES (PERSONAL SERVICES) • 3,196 SF
      Zumbrota, MN 55992
      View Details
    • Value Estimation
      $230,000
      2,500 SF

      237 Main St

      RETAIL STORES (PERSONAL SERVICES) • 2,500 SF
      237 Main St, Zumbrota, MN 55992-1541
      View Details
    • Value Estimation
      $235,000
      4,059 SF

      Zumbrota, MN 55992

      RETAIL STORES (PERSONAL SERVICES) • 4,059 SF
      Zumbrota, MN 55992
      View Details
    • Value Estimation
      $240,000
      3,660 SF

      36 4th St

      RETAIL STORES (PERSONAL SERVICES) • 3,660 SF
      36 4th St, Zumbrota, MN 55992-1598
      View Details
    • Value Estimation
      $270,000
      8,670 SF

      85 4th St

      RETAIL STORES (PERSONAL SERVICES) • 8,670 SF
      85 4th St, Zumbrota, MN 55992-1533
      View Details

    Similar Nearby for Sale

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      Zumbrota School/Daycare Opportunity

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    • Contact for pricing
      0.17 Acres

      Affordable Commercial Space in Zumbrota

      Commercial office or storage space for rent in downtown Zumbrota.
      276 S Main St, Zumbrota, MN 55992
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    Zumbrota, MN 55992
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    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
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