Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    292 Convenience Ln Bemidji, MN 56601

    • Land
    • 6.08 lot acres
    For Sale
    View listing
    $595,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 292 Convenience Ln

    Lot size
    6.08 lot acres
    Property type
    Land

    Description

    This exceptional 6.08-acre commercial land parcel presents a prime development opportunity in Bemidji, Minnesota. Strategically located directly off heavily traveled Highways 2 and 71, this property boasts excellent visibility and convenient access. The site comprises two parcels (030166200 and 030166300) totaling 6.08 acres, offering flexibility for development. Zoning allows for a wide range of uses, making it ideal for automotive, equipment, or accessory dealerships, among other possibilities. The property benefits from city water and sewer (City of Bemidji), electricity (Ottertail Power), and natural gas (Enbridge Energy). Individual parcel details include: Parcel 1 (2.23 acres, APN 030166200) with 2022 taxes of $1,732

    Value Estimations

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Bemidji
    County
    Beltrami
    State
    Minnesota
    Longitude
    -94.8679
    Latitude
    47.4312

    Comparable in this City

    • Value Estimation by Request

      23rd 23Rd St

      Land
      23rd 23Rd St, Bemidji, MN 56601
      View Details
    • Value Estimation by Request
      10.00 Acres

      Balsam Rd

      Land • 10.00 Acres
      0 Balsam Rd, Bemidji, MN 56601
      View Details
    • Value Estimation by Request

      23rd 23Rd St

      Land
      23rd 23Rd St, Bemidji, MN 56601
      View Details
    • Value Estimation by Request

      219 Bemidji Ave

      Land
      219 Bemidji Ave, Bemidji, MN 56601
      View Details
    • Value Estimation by Request
      0.60 Acres

      L1 Grant Ave

      Land • 0.60 Acres
      L1 Grant Ave, Bemidji, MN 56601
      View Details
    • Value Estimation by Request

      23rd 23Rd St

      Land
      23rd 23Rd St, Bemidji, MN 56601
      View Details

    Similar Nearby for Sale

    • $329,000

      Bemidji Mixed-Use Property Investment

      Prime Bemidji location, multi-use potential.
      506 6Th St, Bemidji, MN 56601
      View Details
    • $324,900

      Bemidji Office Building - Great Value

      Prime Bemidji office space, ample parking.
      713 Beltrami Ave, Bemidji, MN 56601
      View Details
    • $600,000

      Bemidji Commercial Land - $600K

      Large Commercial Lot, Prime Bemidji Location
      815 Beltrami Ave, Bemidji, MN 56601
      View Details
    • Contact for pricing
      61.04 Acres

      Hwy 71 & Hwy 2 Commercial Land

      61 Acres, Bemidji, MN Development Opportunity
      2 Bemidji Mn, Bemidji, MN 56601
      View Details
    • $95,000

      Bemidji Commercial Land - $95K

      Prime Commercial Lot, 24,375 sq ft, Build-to-Suit.
      0 24Th St, Bemidji, MN 56601
      View Details
    • $275,000

      Bemidji Commercial Land - $275K

      24,375 SF Commercial Lot, Prime Location
      0 Johanneson Ave, Bemidji, MN 56601
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      6,000 SF

      Bemidji Industrial Warehouse For Sale

      6,000 SF Warehouse, 3.52 Acres
      944 Industrial Park Dr, Bemidji, MN 56601
      View Details
    • Contact for pricing

      Bemidji Restaurant & Land Sale

      Prime Downtown Bemidji Location, Available Now
      414 Beltrami Ave, Bemidji, MN 56601
      View Details
    • Contact for pricing
      11,290 SF

      Bemidji Commercial Land Opportunity

      1.02-acre lot, 11,290 sqft building
      750 Paul Bunyan Dr, Bemidji, MN 56601
      View Details
    • Contact for pricing
      14,508 SF

      Retail Space For Rent

      Retail space available in Bemidji, Minnesota, with ample parking.
      1313 Paul Bunyan Dr NW, Bemidji, MN 56601
      View Details
    • Contact for pricing
      1,076 SF

      Retail Space Near Lake Bemidji

      Retail spaces available in mixed-use property near downtown.
      117-125 2Nd St NW, Bemidji, MN 56601
      View Details
    • Contact for pricing
      1,225 SF

      Retail Center Near Walmart

      Highly visible retail center in a busy Bemidji location.
      2219 Paul Bunyan Dr NW, Bemidji, MN 56601
      View Details
    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.
    292 Convenience Ln
    Bemidji, MN 56601
    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.

    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
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.