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Property profile & analytics
FOR SALE
Manufacturing properties
1018 Industrial Park Dr SE Bemidji, MN 56601
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US46-2233659
For Sale
1 / 5
$685,000
1018 Industrial Park Dr SE, Bemidji, MN 56601
View Listing →
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1995
Total area
14,000 SF
Lot
2.23 ac (97,126 SF)
APN
80.04496.00
UPID
US46-2233659
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$830k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$685k
Owner & transaction history
Bjerke Investments LLC · 4 yrs held
Bjerke Investments LLC
since 2022
Last sale
$700,000
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$1.1M
+18.0%
Retail stores
$975,000
+7.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Bemidji submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bemidji submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$660,000
ML approach
$830,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$905,000
Current use
WAREHOUSE, STORAGE
$1,065,000
Change: +18% · Conversion: Easy
RETAIL STORES
$975,000
Change: +8% · Conversion: Moderate
AUTO REPAIR, GARAGE
$890,000
Change: -1% · Conversion: Easy
Blend value · Realmo final
$685k
Range $617k – $754k · ±10% · vs last sale $700k (Jul 1 2022)
Last sale anchor
$700k
Jul 1 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$49 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$19,582
Tax year 2024
Assessed value
$738,000
Assessed 2024
Previous assessed
$738,000
+0.0% YoY
Effective rate
2.65%
On assessed value
Assessed land
$89,600
Assessed improvement
$648,400
Land market value
$89,600
Improvement market value
$648,400
Total market value
$738,000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
For Sale
Year built
1995
Heating
RADIANT
Total area
14,000 SF
Lot
2.23 ac (97,126 SF)
APN
80.04496.00
UPID
US46-2233659
Jurisdiction
BELTRAMI
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$905,000
WAREHOUSE, STORAGE
Est. value
$1.1M
RETAIL STORES
Est. value
$975,000
AUTO REPAIR, GARAGE
Est. value
$890,000
INDUSTRIAL (GENERAL) Current
WAREHOUSE, STORAGE
RETAIL STORES
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1995
Heating
RADIANT
Lot
2.23 ac
Current owner
From public records · entity-resolved
Bjerke Investments LLC
Entity
Mailing address
5487 HART LN NW, BEMIDJI, MN 56601-9536
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 1, 2022
$700,000
Bjerke Investments LLC
Tri State Holdings LLC
Warranty Deed
$500,000 · Security Bank USA
Jan 21, 2020
$1,100,000
Tri State Holdings LLC
Rolling Fortunes LLC
Warranty Deed
—
Sep 20, 2018
—
Rolling Fortunes LLC
—
Deed
related
$848,000 · Security Bank USA
Sep 12, 2018
$435,000
Rolling Fortunes LLC
Greater Bemidji INC
Warranty Deed
$348,000 · Security Bank USA
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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