705 5Th StBemidji, MN 56601

Property Details for 705 5Th St

Year built

2005

Construction

WOOD

Lot size

4.39 AC

Property size (Sq ft)

24,000 SF

Property type

Office properties

Property subtype

Office buildings

APN

80.02985.00

APU

800298500

Description

This exceptional 24,000 square foot, single-story Class B commercial building, constructed in 2005, offers a unique blend of medical and creative office spaces. Located in Beltrami County, just outside of downtown Bemidji, this property boasts a highly desirable location adjacent to the Minnesota Department of Health, ensuring high visibility and accessibility. The building sits on a substantial 190,792.8 square foot lot and features 187 parking spaces for ample tenant and visitor convenience. Currently, there are 6,260 square feet of vacant space available, divisible into units ranging from a minimum of 2,100 square feet to a maximum contiguous space of 4,160 square feet, perfect for a variety of businesses. The property is zoned B-1 and offers multiple tenancy options. All utilities are included in the rent: taxes, insurance, CAM charges, heat, electricity, water, sewer, and garbage disposal. The annual property tax cost is $1.52 per square foot. This is a rare opportunity to secure prime commercial space in a thriving area with excellent amenities and a strategic location. The building's single-story design and ample parking make it highly accessible and convenient for both employees and clients. Don't miss this chance to establish your business in this sought-after location.

• CAP approach

  CAP return

  Valuation

  6%

  $4,412,524

  6.5%

  $4,073,099

  7%

  $3,782,164

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,224,960

  Geo Method

  $1,224,960

• Alternative Use

  Use

  Valuation

  Residential

  $5,050,643

  Hospitality

  $4,626,362

  Educational

  $3,849,079

  Medical

  $3,981,455

  Retail

  $5,987,456

Location Insight

City

Bemidji

County

Beltrami

State

Minnesota

Latitude

47.4732

Longitude

-94.8895

CBSA code

13420

CBSA name

BEMIDJI, MN MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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