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    Property profile & analytics
    OFF-MARKET Estimated value $940,000
    Warehouses

    409 11th NE St, Austin, MN 55912-4536

    16,800 SF 2.36 ac lot Built 2012
    Individually Owned 3-yr Hold ~ Est. High Equity
    Property ID
    US46-2082968
    Property summary
    AI-generated overview

    This exceptional single-tenant industrial property boasts a total of 24,600 square feet, ideally suited for a variety of businesses. The space is intelligently divided to include a substantial 16,800 square foot storage facility, a climate-controlled warehouse spanning 5,000 square feet, and up to 2,800 square feet of well-appointed office space. Loading and unloading are efficient thanks to three 14' x 16' bay doors. Beyond the building itself, over two acres of land provide ample space for yard storage or parking, offering significant operational flexibility. This property enjoys a highly desirable location, offering convenient proximity to the Hormel Main Plant and the ease of access provided by its location just two minutes from Interstate 90. The combination of generous space, strategic layout, and prime location makes this an unparalleled opportunity for businesses seeking efficient and well-situated industrial space. This single-tenant property offers a unique chance to establish a strong presence in a thriving area. The climate-controlled warehouse ensures optimal conditions for sensitive materials or processes. The extensive yard space adds significant value, providing flexibility for outdoor operations or expanded storage. The proximity to major transportation routes and a significant employer makes this a highly attractive investment.

    Property profile
    Verified
    Property type Warehouses
    Use group WAREHOUSE, STORAGE
    Year built 2012
    Total area 16,800 SF
    Lot 2.36 ac (102,802 SF)
    APN 34.447.0010
    UPID US46-2082968
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    $760k
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    $1.08M
    Blend (final) Blend
    $940k
    Owner & transaction history
    Rande Hemingway JR · 3 yrs held
    Rande Hemingway JR
    since 2022
    Last sale
    $640,000
    6 recorded transactions
    2022
    $640,000
    2012
    $198,369
    2011
    $770,250
    2007
    2007
    2005
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
    Top alternative use upside
    Retail stores $1.4M +38.2%
    Office building $1.3M +30.2%
    Commercial (general) $1.0M +4.7%
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