Property profile

416 N 1St St Montevideo, MN 56265

FOR SALE
Commercial real estate
Property ID
US46-1414141
0.28 ac lot
Entity Owned 2-yr Hold ~ Est. High Equity
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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

Location

416 N 1St St Montevideo, MN 56265
Montevideo metro Census 950602
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$240k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$240k

Owner & transaction history

since 2023
1 recorded transaction
2023
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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