500 Armstrong BlvdSaint James, MN 56081

Property Details for 500 Armstrong Blvd

Year built

1954

Lot size

0.49 AC

Property size (Sq ft)

6,769 SF

Property type

Industrial properties

APN

20.276.0110

APU

202760110

Description

This exceptional 19,027-square-foot commercial property in St. James, Minnesota, presents a unique investment opportunity. Located on a busy thoroughfare next to a grocery store, this former lumber yard offers versatile space ideal for single or multi-tenant use. The property features a 6,681-square-foot retail/office showroom with three private offices, bathrooms, and large display windows. A separate 10,700-square-foot insulated warehouse boasts high ceilings, two drive-in doors, and fluorescent lighting. A smaller garage with offices above, currently leased for $6,000 annually, adds to the income stream. The entire building is exceptionally clean and well-maintained, with the office/retail space and warehouse easily separated. The property sits on a 0.6-acre lot, zoned for business commercial use, and includes built-in billboard signage. The asking price is $495,000, representing a 1.21% cap rate with a net operating income (NOI) of $6,000. The property consists of one single-story building constructed in 1954, with three units and a price per unit of $165,000. The property features a price per square foot of $26.02. Owner financing may be available to qualified buyers. The APN is 202760110. This property offers significant potential for a savvy investor.

• CAP approach

  CAP return

  Valuation

  6%

  $2,541,810

  6.5%

  $2,346,280

  7%

  $2,178,690

• Comparable approach

  Method

  Valuation

  Relative Method

  $552,784

  Geo Method

  $552,784

• Alternative Use

  Use

  Valuation

  Retail / Commercial

  $1,193,110

  Mixed-Use / Specialty

  $1,180,940

  Hospitality / Lodging

  $856,110

  Office

  $1,165,680

  Institutional / Educational

  $1,224,870

  Residential Income

  $1,433,100

  Multifamily

  $1,762,680

  Automotive / Energy

  $1,049,890

  Parking / Income-Based Land

  $370,128

  Restaurant / Food Service

  $597,318

  Healthcare / Senior Housing

  $1,219,150

Location Insight

City

Saint James

County

Watonwan

State

Minnesota

Latitude

43.9852

Longitude

-94.629

Property Tax & Assessments

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