Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    704 5Th St Walker, MN 56484

    Sponsored
    For Sale
    $34,200

    Lots & Land - Walker, MN

    Lot size:
    0.05 Acres
    Days on Market:
    4
    Last Refresh:
    Jan 31 at 6:06 am

    Property Features for 704 5Th St

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Residential-Single Family
    APN
    963560120
    Lot size
    0.05 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Richard Weinberger

    Timber Ghost Realty LLC (651) 329-0873

    Listing agent Richard Weinberger (651) 329-0873

    Listing date Jan 28, 2026

    MLS# 6798580 Listing URL

    Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Wooded Lot Near Leech Lake

    This is a 0.054-acre wooded city lot with mature trees, located in Walker, MN. The property is near Leech Lake and public land suitable for hunting or trail riding. The lot's rolling terrain is suited for a garden view or walkout style home. It is within walking distance of downtown, the community center, library, and school. The zoning is Residential-Single Family, making it suitable for residential construction. The property is located in the Bay View Heights community.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Realty agency Restaurant Building Supply Wholesale Shop Dental Office Auto Repair Shop Law Firm Spa & Massage Hair Salon Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Walker
    County
    Cass
    State
    Minnesota
    Longitude
    -94.5814956
    Latitude
    47.09444536

    Nearby Similar for Sale

    • $650,000
      0.23 Acres

      Prime Retail/Office Space in Walker

      9,200 sq ft retail/office space in downtown Walker.
      609 Minnesota Ave W, Walker, MN 56484
      View Details
    • $249,000
      1,008 SF

      Commercial Building on MN-371

      Spacious pole building on MN-371, ideal for various businesses.
      Mn-371, Walker, MN
      View Details
    • $575,000
      6,540 SF

      Walker Restaurant & Apartments

      Established Restaurant, 4 Apartments, High Traffic
      101 5Th St, Walker, MN 56484
      View Details
    • $139,900
      600 SF

      Downtown Walker Commercial Property

      High-traffic location, 600 sq ft.
      416 Minnesota Ave, Walker, MN 56484
      View Details
    • $89,900
      916 SF

      Prime Walker Office Space - Lake Views

      916 sq ft office, Hwy 200/371, lake views.
      110 Michigan Ave, Walker, MN 56484
      View Details

    FAQs

    What type of property is this?
    Land - Wooded city lot near Leech Lake and downtown Walker, MN.
    Where is this land located?
    The property is located at 704 5Th St Walker, MN.
    What is the asking price?
    The asking price for this property is $34,200.
    What are key features of this property?
    This property features: - Large, wooded city lot near Leech Lake.; - Proximity to world-class fishing and public land for hunting/trail riding.; - Suitable for garden view or walkout style home due to rolling terrain.
    (651) 329-0873
    Request Owner's contact information
    704 5Th St Walker, MN 56484
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    704 5Th St
    Walker, MN 56484
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    704 5Th St Walker, MN 56484
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Richard Weinberger
    (651) 329-0873
    Learn more
    Google sign-in failed. Please try again or use another login method.