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    Property profile & analytics
    OFF-MARKET Estimated value $515,000
    Retail space

    119 Paul Bunyan NW Dr, Bemidji, MN 56601-2593

    5,100 SF 0.75 ac lot Built 1987
    Entity Owned 8-yr Hold Absentee Owner ~ Est. High Equity
    Property ID
    US46-2452504
    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
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    $490k
    Blend (final) Blend
    $515k
    Owner & transaction history
    Dread Pirate Properties LLC · 8 yrs held
    Dread Pirate Properties LLC
    since 2017
    4 recorded transactions
    2021
    2017
    $850,000
    2006
    $300,000
    2006
    $240,000
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
    Top alternative use upside
    Office building $690,000 +109.0%
    Commercial (general) $430,000 +30.5%
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