Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Downtown Office Building with Parking Title is generated by Realmo AI

    713 Beltrami Avenue NW, Bemidji, MN 56601

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Office building with parking, new roof, and unfinished basement.

    Type:Office
    Property size:
    2,584 SF
    Price / SF:
    $108/SF
    Added:
    Sep 21, 2023
    Days on Market:
    974
    Last Refresh:
    May 12 at 9:28 pm

    Property Features for 713 Beltrami Avenue NW

    General Information

    Standard status
    Active
    Size
    2,584 SF
    Property subtype
    Office

    Building Details

    Year Built
    1976

    We can help!

    Listing Contact
    Matt Sparby

    Listing agent Matt Sparby

    Listing office Realty Experts, LLC

    Listing date Sep 21, 2023

    Source Crexi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Realty Experts, LLC

    HighLights

    • Near downtown office building location
    • Off‑street paved employee parking
    • New roof installed this year
    • 2584sqft space with 6 offices and 1 conference room
    • Full unfinished basement
    • Easy access from the street and alley

    Overview

    This near downtown office building offers 2584 square feet of space. It features six offices, a conference room, and a reception area. The property includes two bathrooms, a yard area, and a full unfinished basement. Employee parking is available in the off-street paved lot. A new roof was installed this year. The building provides easy access from both the street and the alley. The property may also be available for lease.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Big Box & Wholesale Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Bemidji
    County
    Beltrami
    State
    Minnesota
    Longitude
    -94.8813415
    Latitude
    47.4751479

    Nearby Similar for Sale

    • $1,353,383
      554 SF

      New Caribou Coffee Cabin Concept

      New drive-thru Caribou Coffee on high-traffic corridor near university.
      100 Paul Bunyan Drive Northwest, Bemidji, MN, 56601
      View Details
    • $329,900
      2,100 SF

      Bemidji Commercial Building For Sale

      Commercial building with office space, storage, and paved parking.
      920 Washington S Avenue, Bemidji, MN 56601
      View Details
    • $8
      14,000 SF

      Bemidji Industrial Park Opportunity

      14,000 SF building on three acres for sale.
      1018 Industrial Park Drive SE, Bemidji, MN 56601
      View Details
    • $3,766
      4,992 SF

      Office and Shop Space Available

      Office and shop space in Bemidji's Industrial Park.
      1407 Naylor SE Drive, Bemidji, MN 56601
      View Details
    • $1,600,000
      13,939 SF

      Mixed-Use Commercial Property in Bemidji

      Centrally located mixed-use property in downtown Bemidji, Minnesota.
      218 3rd St NW, Bemidji, MN 56601
      View Details
    • Contact for pricing
      24,000 SF

      Modern Retail Space on 5th

      Modern 2100 SF retail space with ample parking.
      705 5th Street NW Unit Unit C, Bemidji, MN 56601
      View Details
    • $600,000
      3,100 SF

      Bemidji Commercial Building For Sale

      3,100 SF building with high traffic counts in Bemidji.
      414 Paul Bunyan Dr SE, Bemidji, MN
      View Details

    FAQs

    What type of property is this?
    Office building - Office building with parking, new roof, and unfinished basement.
    Where is this office building located?
    The property is located at 713 Beltrami Avenue NW Bemidji, MN.
    What is the asking price?
    The asking price for this property is $279,900.
    What are key features of this property?
    This property features: Near downtown office building location; Off‑street paved employee parking; New roof installed this year
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Matt Sparby
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    713 Beltrami Avenue NW, Bemidji, MN 56601
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!