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    Property profile & analytics

    416 N 1St St Montevideo, MN 56265

    • Commercial real estate
    • 0.28 lot acres
    For Sale
    View listing
    $325
    Value Estimation
    Last Sale
    Dec 01, 2023
    Location Intelligence
    Property ID
    US46-1414141
    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.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 416 N 1St St

    Lot size
    0.28 lot acres
    Property type
    Commercial real estate
    APN
    70-375-1470
    APU
    703751470

    Description

    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.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $240,000

    • CAP approach

      CAP return
      Estimation
      6%
      $360,000
      6.5%
      $310,000
      7%
      $370,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $375,000
      Geo Method
      $300,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $335,000
      Retail
      $365,000
      Mixed-Use
      $275,000
      Hospitality
      $275,000
      Educational
      $280,000
      Residential Income
      $340,000
      Energy
      $280,000
      Income-Based Land
      $300,000
      Food Service
      $340,000

    Location Insight

    • Map
    • Local Demand
    City
    Montevideo
    County
    Chippewa
    State
    Minnesota
    Longitude
    -95.725
    Latitude
    44.9489

    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
    2022
    $3,790
    $15,600
    $133,200
    $148,800
    -
    $15,600
    $133,200
    $148,800

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    416 N 1St St
    Montevideo, MN 56265
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    Realmo Value Estimation

    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.

    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.

    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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