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    2324 Vermillion St Hastings, MN 55033
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    Property profile & analytics

    2324 Vermillion St Hastings, MN 55033

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    • Retail space
    • 4,560 SF
    • 0.20 lot acres
    For Sale
    $410,000
    View Listing →
    Hastings Retail or Mixed-Use Opportunity For Sale
    $410,000
    3,060 SF

    Hastings Retail or Mixed-Use Opportunity

    4,560 SF building in Hastings, MN, ideal for retail.

    2324 Vermillion St, Hastings, MN 55033
    View Listing
    Property ID
    US46-0782926
    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

    • Old Mill Pawn / Discount Store / (Bike/Boat/Book/etc) Store

    Property Details for 2324 Vermillion St

    Year built
    1960
    Construction
    CONCRETE
    Lot size
    0.20 lot acres
    Property size
    4,560 SF
    Zone code
    R
    Property type
    Retail space
    APN
    19-81700-05-050
    APU
    198170005050

    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
    Hastings
    County
    Dakota
    State
    Minnesota
    Longitude
    -92.8503
    Latitude
    44.7207
    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
    $5,034
    $62,900
    $155,300
    $218,200
    -
    $62,900
    $155,300
    $218,200

    Comparable in this City

    • Value Estimation
      $955,000
      7,540 SF

      1316 Frontage Rd

      RETAIL STORES (PERSONAL SERVICES) • 7,540 SF
      1316 Frontage Rd, Hastings, MN 55033-2426
      View Details
    • Value Estimation
      $1,660,000
      13,664 SF

      1017 Vermillion St

      RETAIL STORES (PERSONAL SERVICES) • 13,664 SF
      1017 Vermillion St, Hastings, MN 55033-2840
      View Details
    • Value Estimation by Request
      3,450 SF

      214 Ramsey St

      RETAIL STORES (PERSONAL SERVICES) • 3,450 SF
      214 Ramsey St, Hastings, MN 55033-1219
      View Details
    • Value Estimation
      $580,000
      5,495 SF

      212 2nd E St

      RETAIL STORES (PERSONAL SERVICES) • 5,495 SF
      212 2nd E St, Hastings, MN 55033-1204
      View Details
    • Value Estimation by Request
      3,632 SF

      Hastings, MN 55033

      RETAIL STORES (PERSONAL SERVICES) • 3,632 SF
      Hastings, MN 55033
      View Details
    • Value Estimation by Request
      4,576 SF

      214 2nd E St

      RETAIL STORES (PERSONAL SERVICES) • 4,576 SF
      214 2nd E St, Hastings, MN 55033-1204
      View Details

    Similar Nearby for Sale

    • $410,000
      3,060 SF

      Hastings Retail or Mixed-Use Opportunity

      4,560 SF building in Hastings, MN, ideal for retail.
      2324 Vermillion St, Hastings, MN 55033
      View Details
    • $750,000
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      Historic Hastings Restaurant Opportunity

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      Two-level, 6,000 SF building ideal for restaurant or retail.
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      2,800 SF

      Auto Building Approved For Auto

      Auto building suitable for dealership, body shop, or service.
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    • $395,000
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      Renovated Commercial Property on Highway

      Versatile, renovated commercial property with high traffic exposure.
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    • Contact for pricing
      98,580 SF

      Adaptable Flex Space with Showroom

      Flex space featuring offices, showroom, and climate-controlled warehousing.
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    Similar Nearby for Lease

    • Contact for pricing
      5,580 SF

      Retail Space in Hastings Midtown

      Retail space available in Hastings Midtown Shopping Center.
      1202-1214 Vermillion St, Hastings, MN 55033
      View Details
    • Contact for pricing

      Retail Center at Highways Intersection

      Retail center at a high-traffic intersection in Hastings, Minnesota.
      1100-1214 Vermillion St, Hastings, MN 55033
      View Details
    • $8 SF/Yr
      12,835 SF

      Hastings Warehouse Space Available

      12,835 SF warehouse space for lease in Hastings, MN.
      12151 120Th St South, 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
    • Contact for pricing
      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
    • Contact for pricing
      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
    View Listing
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    Hastings, MN 55033
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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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    2324 Vermillion St, Hastings, MN, 55033
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