Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    213 Labree Ave Thief River Falls, MN 56701
    Back to Search
    Property profile & analytics

    213 Labree Ave, Thief River Falls, MN 56701

    View on Map
    • Land
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Sedra Medical Clinic / Medical Clinic
    • HDR / Environmental Engineer / Engineering Consultant
    • Massage Place TRF / Alternative Medicine Practice / Spa & Massage Center
    • Clarity Mental Health / Medical Clinic
    • Dr Nancy E Rust PhD LP / Physician / Medical Clinic

    Property Details for 213 Labree Ave

    Year built
    1920
    Property type
    Land

    Description

    This exceptional commercial land opportunity in Thief River Falls, Minnesota, presents a compelling investment prospect. Located at 213 Labree Avenue N, this 6,969.6 square foot lot boasts a rich history, having been developed in 1920. The existing structure, a professional center, offers significant income potential. The main floor comprises approximately 7,000 square feet and is divided into five or six units. The second floor mirrors this layout, also featuring approximately 7,000 square feet and seven units. A third floor adds another 1,800 square feet with a single unit. A partial basement, measuring 36 x 50 feet, provides valuable storage, utility space, and two bathrooms. An elevator serves all floors, enhancing accessibility. While two off-site parking spaces are currently included with one rental unit, further parking arrangements may be explored. The asking price for this property is $580,000. This property is situated in the heart of downtown Thief River Falls, offering excellent visibility and convenient access to local amenities and businesses. The strong rental history and potential for future growth make this a highly attractive investment. Detailed financial information is available upon request. This is a rare opportunity to acquire a well-established commercial property with significant upside potential in a thriving Minnesota community. The property is located in Pennington County, MN, zip code 56701.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Thief River Falls
    County
    Pennington
    State
    Minnesota
    Longitude
    -96.1804
    Latitude
    48.1186

    Comparable in this City

    • Value Estimation by Request

      1227 Stephen St

      Land
      1227 Stephen St, Thief River Falls, MN 56701
      View Details
    • Value Estimation by Request

      1436 Main Ave

      Land
      1436 Main Ave, Thief River Falls, MN 56701
      View Details
    • Value Estimation by Request

      1301 3Rd St

      Land
      1301 3Rd St, Thief River Falls, MN 56701
      View Details
    • Value Estimation by Request

      15244 Douglas Ave

      Land
      15244 Douglas Ave, Thief River Falls, MN 56701
      View Details
    • Value Estimation by Request

      313 3Rd St

      Land
      313 3Rd St, Thief River Falls, MN 56701
      View Details
    • Value Estimation by Request

      115 3Rd St

      Land
      115 3Rd St, Thief River Falls, MN 56701
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Commercial Building in Prime Location

      Commercial building with recent upgrades and rental storage units.
      1436 Main Ave N, Thief River Falls, MN 56701
      View Details
    • Contact for pricing

      Commercially Zoned Land For Sale

      11.47 acre commercially zoned land with highway frontage.
      14840 Us Highway 59 Ne, Thief River Falls, MN 56701
      View Details
    • Contact for pricing

      Thief River Falls Investment Opportunity

      29 manufactured homes on leased land for sale.
      1227 Stephen St, Thief River Falls, MN 56701
      View Details
    • New
      Contact for pricing
      2.01 Acres

      New Commercial Space For Sale

      New commercial space in Thief River Falls, ideal for various businesses.
      1916 Highway 59, Thief River Falls, MN 56701
      View Details
    • Contact for pricing
      3,936 SF

      Thief River Falls Apartment Building

      Ten-unit apartment building with additional land available in Thief River Falls.
      15244 Douglas Ave, Thief River Falls, MN 56701
      View Details
    • $1,080,000

      Multifamily Property in Thief River

      24-unit multifamily property with development potential in Thief River Falls.
      624 Kinney Ave, Thief River Falls, MN 56701
      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.
    213 Labree Ave
    Thief River Falls, MN 56701
    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
    213 Labree Ave, Thief River Falls, MN, 56701
    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!