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    Property profile & analytics

    671 7th St Lafayette, MN 56054

    • Commercial real estate
    • 6,240 SF
    • 0.44 lot acres
    OFF-MARKET
    Value Estimation
    Last Sale
    Sep 12, 2023
    Location Intelligence
    Property ID
    US46-2052755
    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 671 7th St

    Year built
    1966
    Lot size
    0.44 lot acres
    Property size
    6,240 SF
    Property type
    Commercial real estate
    APN
    15.681.0050
    APU
    156810050

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Lafayette
    County
    Nicollet
    State
    Minnesota
    Longitude
    -94.3957
    Latitude
    44.4484
    CBSA code
    31860
    CBSA name
    MANKATO-NORTH MANKATO, MN MICROPOLITAN STATISTICAL AREA

    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
    2023
    $1,694
    $30,600
    $47,000
    $77,600
    -
    $30,600
    $47,000
    $77,600

    Comparable in this City

    • Value Estimation by Request
      2,400 SF

      6th St

      COMMERCIAL (GENERAL) • 2,400 SF
      6th St, Lafayette, MN 56054
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    • Value Estimation by Request
      0.09 Acres

      60796 350th St

      COMMERCIAL (GENERAL) • 0.09 Acres
      60796 350th St, Lafayette, MN 56054
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    • Value Estimation
      $315,000
      1.84 Acres

      9th St

      COMMERCIAL (GENERAL) • 1.84 Acres
      9th St, Lafayette, MN 56054
      View Details
    • Value Estimation by Request
      0.20 Acres

      900 Main Ave

      COMMERCIAL (GENERAL) • 0.20 Acres
      900 Main Ave, Lafayette, MN 56054
      View Details
    • Value Estimation by Request
      0.45 Acres

      440 Wanser Ave

      COMMERCIAL (GENERAL) • 0.45 Acres
      440 Wanser Ave, Lafayette, MN 56054-9729
      View Details
    • Value Estimation by Request
      168 SF

      55547 366th St

      COMMERCIAL (GENERAL) • 168 SF
      55547 366th St, Lafayette, MN 56054
      View Details
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    671 7th St
    Lafayette, MN 56054
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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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