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    OFF-MARKET
    Commercial real estate

    416 1st St, Montevideo, MN 56265-1408

    0.28 ac lot
    Entity Owned 2-yr Hold ~ Est. High Equity
    Property ID
    US46-1414141
    Property summary
    AI-generated overview

    This exceptional 3,584 square foot office building, situated in Montevideo's historic downtown area, presents a unique opportunity for businesses of all sizes. The property, located at 416 N 1st Street, sits on a 0.28-acre lot and offers six individual office spaces available for lease. Businesses can choose to lease a single office or occupy the entire building, providing flexibility to accommodate varying needs. All utilities are included in the rental cost, offering a convenient and predictable expense structure. Included utilities encompass gas, electricity, water, trash removal, and non-secure internet access. Each office has been recently updated with fresh paint, modern lighting, and new carpeting. Shared amenities include a common waiting area and two restrooms for the convenience of tenants and their clients. Rental rates are determined by the number of offices leased and the length of the lease term. A minimum one-year lease is required. This property offers a blend of historical charm and modern functionality, making it an ideal location for businesses seeking a prominent presence in Montevideo's vibrant downtown core. The building's central location and inclusive utility package provide an attractive and cost-effective solution for businesses seeking office space.

    Property profile
    Verified
    Property type Commercial real estate
    Use group COMMERCIAL (GENERAL)
    Lot 0.28 ac (12,197 SF)
    APN 70-375-1470
    UPID US46-1414141
    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
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    Comparable Approach Comparable
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    Blend (final) Blend
    by Request
    Owner & transaction history
    Montevideo Lfp LLC · 2 yrs held
    Montevideo Lfp LLC
    since 2023
    1 recorded transaction
    2023
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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