1400 Highway 23
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1400 Highway 23
4 Acres of Commercial Land Offered at $465,000 in Ogilvie, MN 56358
Investment Highlights
- Fantastic Location on the Corner of 2 State Highways
- Six billboards on two monopole pylons owned by Lamar provide the potential for future billboard lease income.
- High Traffic Area
Executive Summary
Attn: Developers and Investors! This prime 4-acre retail/commercial building site offers exceptional visibility and a variety of opportunities. Located within Ogilvie city limits, it is adjacent to Ogilvie K-12 School system and approximately 1 mile from the Ogilvie Raceway. The site is situated at the busy intersection of State Hwy 23 and State Hwy 47, with MnDOT traffic counts exceeding 6,000 vehicles per day, making it ideal for a gas station/convenience store, fast food, grocery/retail, or storage units. The location is perfect for capturing traffic from summer lake recreation and winter sports enthusiasts. Utilities include an onsite drilled well, with city sewer and water available at the south side of Hwy 23 and east side of Hwy 47. Six billboards on two monopole pylons owned by Lamar provide the potential for future billboard lease income. The Lamar billboard lease is scheduled for renegotiation in early 2025. The property includes a 60x40 pole building, which can be repurposed or removed. This high-visibility site offers endless commercial possibilities!
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Actual - 2024) |
Annual | Annual Per AC |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
$4,500
|
$1,125.00
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$4,500
|
$1,125.00
|
| Taxes |
$4,288
|
$1,072.00
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$4,288
|
$1,072.00
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Other Income | |
|---|---|
| Annual | $4,500 |
| Annual Per AC | $1,125.00 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Effective Gross Income | |
|---|---|
| Annual | $4,500 |
| Annual Per AC | $1,125.00 |
| Taxes | |
|---|---|
| Annual | $4,288 |
| Annual Per AC | $1,072.00 |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Total Expenses | |
|---|---|
| Annual | $4,288 |
| Annual Per AC | $1,072.00 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per AC | - |
Property Facts
| Price | $465,000 | Property Type | Land |
| Sale Type | Investment or Owner User | Property Subtype | Commercial |
| Sale Conditions | Redevelopment Project | Proposed Use | |
| No. Lots | 1 | Total Lot Size | 4.00 AC |
| Price | $465,000 |
| Sale Type | Investment or Owner User |
| Sale Conditions | Redevelopment Project |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | |
| Total Lot Size | 4.00 AC |
1 Lot Available
Lot
| Price | $465,000 | Lot Size | 4.00 AC |
| Price Per AC | $116,250 |
| Price | $465,000 |
| Price Per AC | $116,250 |
| Lot Size | 4.00 AC |
This 4 acre property includes a 60x40 pole building, which can be repurposed or removed. This high-visibility site offers endless redevelopment commercial possibilities and two Lamar owned billboard pylons for added annual revenue!
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PROPERTY TAXES
| Parcel Number | 23.00057.00 | Total Assessment | $155,100 |
| Land Assessment | $143,200 | Annual Taxes | $4,288 |
| Improvements Assessment | $11,900 | Tax Year | 2024 Payable 2024 |
PROPERTY TAXES
Parcel Number
23.00057.00
Land Assessment
$143,200
Improvements Assessment
$11,900
Total Assessment
$155,100
Annual Taxes
$4,288
Tax Year
2024 Payable 2024
zoning
| Zoning Code | Commercial (Contact the City of Ogilvie, MN for specific details.) |
| Commercial (Contact the City of Ogilvie, MN for specific details.) |
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1400 Highway 23
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