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    OFF-MARKET
    Commercial real estate

    589 1st St, Montevideo, MN 56265-2105

    0.36 ac lot
    Individually Owned 1-yr Hold Absentee Owner ~ Est. High Equity
    Property ID
    US46-1695483
    Property summary
    AI-generated overview

    This exceptional commercial property, located at 589 SW 1st Street in Montevideo, Minnesota, presents a unique investment opportunity. The 0.35-acre lot sits on a busy intersection, ensuring high visibility and accessibility for any business. Currently operating as a quick-serve coffee shop, the 15,254 square foot building offers versatile space suitable for a variety of commercial uses, including restaurant, retail, or mixed-use development. The asking price is $120,000, translating to a price per square foot of $7.87. The property is offered as a single tenancy with a gross lease type. The legal description is 589 1st St., LLC, and the parcel ID is 70-818-3225. This prime location in Chippewa County, Minnesota (zip code 56265), offers significant potential for growth and return on investment. The property's strategic positioning at a busy intersection in Montevideo makes it an ideal location for a thriving business. The existing structure provides a solid foundation for immediate occupancy or redevelopment, catering to a wide range of commercial ventures. This is a rare opportunity to acquire a substantial commercial property in a desirable location at an attractive price point. Don't miss out on this chance to own a piece of Montevideo's vibrant commercial landscape.

    Property profile
    Verified
    Property type Commercial real estate
    Use group COMMERCIAL (GENERAL)
    Lot 0.36 ac (15,682 SF)
    APN 70-818-3225
    UPID US46-1695483
    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
    Current use
    Occupant on record · Public records
    • Cup a Joe Cafe & Coffee Shop
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
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    Comparable Approach Comparable
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    Blend (final) Blend
    by Request
    Owner & transaction history
    Erik Sorenson · 1 yrs held
    Erik Sorenson
    since 2025
    1 recorded transaction
    2025
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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