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    Specialty properties

    411 State St, Fairmont, MN 56031-4169

    4,600 SF 0.21 ac lot Built 1960
    Entity Owned Free & Clear
    Property ID
    US46-2615185
    Property summary
    AI-generated overview

    This exceptional commercial property at 411 S State Street, Fairmont, MN, presents a unique investment opportunity. The 4,600 square foot building boasts a highly visible location along a major highway, ensuring significant traffic exposure. Its versatile design includes two entrances, ample parking, three restrooms, a kitchen, and numerous office and gathering spaces. The building is equipped with forced air/gas heating and central air conditioning, offering comfortable year-round functionality. The sale includes two parcels of land, totaling 0.21 acres, providing extensive parking capabilities. An additional 11,900 square foot gravel lot is included, further enhancing parking availability. This property is situated in the B-2 Central Business District, allowing for a wide range of commercial uses, including retail, professional offices, food services, banking, healthcare, education, and more. The zoning also permits multi-family residential and limited light manufacturing. Its proximity to other professional services and banking institutions solidifies its position as a prime commercial location in Fairmont, MN. The asking price for this exceptional property is $365,000. This presents a rare chance to acquire a well-maintained, versatile commercial building with significant land in a thriving business district.

    Property profile
    Verified
    Property type Specialty properties
    Use group CHARITABLE ORGANIZATION
    Year built 1960
    Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Total area 4,600 SF
    Lot 0.21 ac (9,017 SF)
    APN 23.116.0030
    UPID US46-2615185
    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
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    by Request
    Blend (final) Blend
    by Request
    Owner & transaction history
    STEP INC
    STEP INC
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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