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    Property profile & analytics

    231 Main St Pine Island, MN 55963-7659

    • Investment properties
    • 2,772 SF
    OFF-MARKET
    Value Estimation
    $245,000
    Last Sale
    Sep 06, 2022
    $248,500
    Location Intelligence
    Property ID
    US46-0065430
    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

    • Hemann Grover & Co Pllp / Tax Preparation Service
    • Flick Consultation Group / Mental Health Clinic / Medical Clinic
    • Hemann Grover & Co Pllp: Grover Le Ann M CPA / Accountant
    • Hemann Grover & Co Pllp: Hemann Glen P CPA / Accountant

    Property Details for 231 Main St

    Year built
    1897
    Property size
    2,772 SF
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    68.100.1530
    APU
    681001530

    Description

    This charming, 3,272 square foot, Class C building at 231 S Main St, Pine Island, MN 55963, offers a unique leasing opportunity. Built in 1897, this beautiful brick building boasts an elegant arched window façade and exposed brick interior, creating a distinctive atmosphere. The space is divisible into four separate units, ranging from 140 to 1,380 contiguous square feet, ideal for a variety of office or retail uses. The entire main floor is available for $2,200 per month. Each unit benefits from ample storage, convenient front and rear entrances, and excellent signage opportunities. All utilities—water, heat, electricity, garbage, and recycling—are included in the rent. This prime Main Street location offers high visibility and accessibility, making it an exceptional choice for businesses seeking a blend of historic charm and modern functionality. The property features multiple suites in a traditional office, executive office, coworking, or creative office setting.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $235,000

    • CAP approach

      CAP return
      Estimation
      6%
      $270,000
      6.5%
      $285,000
      7%
      $265,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $260,000
      Geo Method
      $345,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $250,000
      Retail
      $285,000
      Mixed-Use
      $270,000
      Hospitality
      $260,000
      Educational
      $295,000
      Residential Income
      $300,000
      Energy
      $255,000
      Income-Based Land
      $240,000
      Food Service
      $300,000

    Location Insight

    • Map
    • Local Demand
    City
    Pine Island
    County
    Goodhue
    State
    Minnesota
    Longitude
    -92.6459
    Latitude
    44.2009
    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
    $3,766
    $24,900
    $183,100
    $208,000
    -
    $24,900
    $183,100
    $208,000

    Comparable in this City

    • Value Estimation
      $160,000
      2,208 SF

      120 Main St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,208 SF
      120 Main St, Pine Island, MN 55963-7595
      View Details
    • Value Estimation
      $245,000
      3,762 SF

      114 Main St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,762 SF
      114 Main St, Pine Island, MN 55963
      View Details
    • Value Estimation by Request
      1,680 SF

      6450 120th NW St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,680 SF
      6450 120th NW St, Pine Island, MN 55963-9422
      View Details
    • Value Estimation
      $255,000
      1,008 SF

      109 2nd SW St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,008 SF
      109 2nd SW St, Pine Island, MN 55963-7517
      View Details
    • Value Estimation
      $265,000
      1,568 SF

      11814 County Rd 5th NW

      OFFICE/RESIDENTIAL (MIXED USE) • 1,568 SF
      11814 County Rd 5th NW, Pine Island, MN 55963-9462
      View Details
    • Value Estimation
      $145,000
      2,000 SF

      246 Main St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,000 SF
      246 Main St, Pine Island, MN 55963-9190
      View Details

    Similar Nearby for Sale

    • $490,000
      9,847 SF

      Mixed-Use Property in Pine Island

      Versatile mixed-use property with office, restaurant, and warehouse spaces.
      301 North Main St, Pine Island, MN 55963
      View Details
    • $111,000
      0.77 Acres

      Residential Land in Pine Island

      Land for sale in Windmill Woods Estates, Pine Island, MN.
      934 Windermere Dr, Pine Island, MN 55963
      View Details
    • Contact for pricing
      0.03 Acres

      Ready-to-Build Lots in Pine Island

      15 residential lots available for purchase in Pine Island, MN.
      832 Lorrain Ct SW, Pine Island, MN 55963
      View Details
    • Contact for pricing
      0.04 Acres

      Ready-to-Build Lots in Pine Island

      Multiple residential lots available for purchase in Pine Island, MN.
      826 Alexis Ct SW, Pine Island, MN 55963
      View Details
    • Contact for pricing
      0.04 Acres

      Ready-to-Build Lots in Pine Island

      Multiple residential lots available for purchase in Pine Island, MN.
      822 Alexis Ct SW, Pine Island, MN 55963
      View Details
    • $121,000
      1,028 SF

      Pine Island Two-Bedroom Home

      Two-bedroom home in Pine Island, income restrictions apply.
      430 7Th St SW, Pine Island, MN 55963
      View Details
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    231 Main St
    Pine Island, MN 55963-7659
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    Realmo Value Estimation

    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.

    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.

    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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