402 Old Highway 61Hinckley, MN 55037

Property Details for 402 Old Highway 61

Year built

1994

Lot size

0.61 AC

Property size (Sq ft)

2,288 SF

Property type

Banks

APN

40.0127.011

APU

400127011

Description

This exceptional commercial property, located at 402 Old Hwy 61 S in Hinckley, Minnesota, presents a unique investment opportunity. The building boasts a substantial 2,288 square feet of space, offering ample room for a variety of commercial ventures. Its strategic location on Old Hwy 61 S ensures high visibility and accessibility for customers. The property sits on a 0.31-acre lot, providing sufficient space for parking and potential expansion. A key feature is the full, unfinished basement, presenting significant potential for additional development or storage. The existing structure is well-maintained, reflecting a commitment to quality construction. The design incorporates the possibility of drive-through capabilities, making it suitable for businesses requiring this type of access. This versatile building is ready for immediate occupancy and offers a multitude of possibilities for entrepreneurs and investors seeking a strong foothold in the Hinckley market. The asking price is $274,900. This represents an excellent value for a well-located, spacious commercial building with significant upside potential. Don't miss this chance to acquire a prime commercial property in a thriving community.

• CAP approach

  CAP return

  Valuation

  6%

  $618,371

  6.5%

  $570,804

  7%

  $530,032

• Comparable approach

  Method

  Valuation

  Relative Method

  $294,284

  Geo Method

  $294,284

• Alternative Use

  Use

  Valuation

  Residential

  $481,495

  Hospitality

  $441,046

  Educational

  $366,946

  Medical

  $379,565

  Retail

  $570,804

Location Insight

City

Hinckley

County

Pine

State

Minnesota

Latitude

46.0124

Longitude

-92.9437

Property Tax & Assessments

FAQs

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