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    Property profile & analytics

    145 2Nd Ave Perham, MN 56573

    • Commercial real estate
    • 5,200 SF
    For Sale
    View listing
    $425,000
    Value Estimation
    Location Intelligence
    Property ID
    US46-1186843
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 145 2Nd Ave

    Year built
    1974
    Property size
    5,200 SF
    Property type
    Commercial real estate
    APN
    77000990056000
    APU
    77000990056000

    Description

    This 5,200 square foot vacant retail building, located at 145 2nd Ave SE in Perham, Minnesota, presents a unique investment opportunity. Built in 1974 and renovated in 2022, the Class B property sits on a 15,000 square foot lot and offers flexible space suitable for various uses, including office, retail, restaurant, or medical. The building is conveniently located in downtown Perham, next to the new JP Place mixed-use development, and benefits from ample parking on both the north and south sides. The property includes a 2,000 square foot heated garage with an oversized garage door, ideal for warehouse or shop space. A memorandum of understanding exists with the City of Perham to assist with the costs of expanding the south parking lot. The asking price is $425,000, translating to $81.73 per square foot. The property's zoning is commercial, and it features one building with one story. Nearby businesses include Sherwin-Williams, O'Reilly Auto Parts, Aspen Dental, IHOP, and Goodwill. Perham is a thriving small town known for its excellent schools, outdoor recreation, and vibrant community. This property offers significant potential for a variety of commercial ventures. The property is currently vacant and available for sale.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $275,000

    • CAP approach

      CAP return
      Estimation
      6%
      $380,000
      6.5%
      $350,000
      7%
      $365,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $390,000
      Geo Method
      $415,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $400,000
      Retail
      $325,000
      Mixed-Use
      $320,000
      Hospitality
      $380,000
      Educational
      $325,000
      Residential Income
      $390,000
      Energy
      $425,000
      Income-Based Land
      $385,000
      Food Service
      $305,000

    Location Insight

    • Map
    • Local Demand
    City
    Perham
    County
    Otter Tail
    State
    Minnesota
    Longitude
    -95.572
    Latitude
    46.5928
    CBSA code
    22260
    CBSA name
    FERGUS FALLS, MN MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $3,464
    $59,200
    $115,400
    $174,600
    -
    $59,200
    $115,400
    $174,600

    Comparable in this City

    • Value Estimation by Request
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      0.05 Acres

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    Perham, MN 56573
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    Realmo Value Estimation

    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.

    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
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