Property profile

119 Paul Bunyan NW Dr Bemidji, MN 56601

OFF-MARKET
Retail space
Property ID
US46-2452504
5,100 SF 0.75 ac lot Built 1987
Entity Owned 8-yr Hold Absentee Owner ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional commercial property, located at 119 Paul Bunyan Drive NW in Bemidji, Minnesota, offers 2,400 square feet of immediately available office space within a larger 5,100 square foot building. The building, constructed in 1987 and renovated in 2020, is classified as Class B and sits on a 0.56-acre lot. The space features five large offices, a spacious reception area, and two ADA-compliant bathrooms, providing ample room for a variety of business needs. The property includes 33 parking spaces, with an additional six spaces available for lease in an adjacent lot. Utilities are not included in the lease rate, which is calculated per square foot and includes taxes, CAM charges, and utilities. The property is zoned for Business/Commercial use and boasts excellent visibility, making it an ideal location for businesses seeking a prominent presence in Bemidji. The minimum divisible space is 2,400 square feet, with a maximum contiguous space also at 2,400 square feet. The property's APN is 800293600, and it is located in Beltrami County, Minnesota, zip code 56601. Power is included. There are no elevators in the single-building complex. The property taxes are $2.70 per square foot.

Property profile

Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1987
Construction WOOD
Total area 5,100 SF
Lot 0.75 ac (32,525 SF)
APN 80.02936.00
UPID US46-2452504

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

119 Paul Bunyan NW Dr Bemidji, MN 56601-2593
Bemidji metro Census 450600 BEMIDJI, MN MICROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$490k
Blend (final) Blend
$270k

Owner & transaction history

since 2017
4 recorded transactions
2021
Price N/A
2017
$850,000
2006
$300,000
2006
$240,000

Zoning & alternative use

Top alternative use upside
Office building $690,000 +109.0%
Commercial (general) $430,000 +30.5%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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