416 1st St, Montevideo, MN 56265-1408
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.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2022Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Property description
Physical attributes from public recordsZoning & alternative use
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.