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Property profile & analytics
OFF-MARKET
Estimated value
$500,000
Banks
1121 Main St Anoka, MN 55303-1562
Entity Owned
Absentee Owner
Free & Clear
Property ID
US46-0699074
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1992
Construction
WOOD FRAME
Total area
8,142 SF
Lot
1.78 ac (77,537 SF)
Zoning code
B-1
APN
35-32-25-44-0019
UPID
US46-0699074
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
Current use
Occupant on record · Public records
-
Atm Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$500k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$500k
Owner & transaction history
First Bank Elk River
First Bank Elk River
since 2025
2 recorded transactions
Zoning & alternative use
B-1 · Anoka, MN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of the B-1 Highway Business District is to provide for the establishment of services and limited retail businesses primarily oriented toward motorists and requiring high volumes of traffic and visibility from major roads in order that highway service types of land uses can be provided in a manner compatible with the needs for traffic movement and…
Zone name
Highway Business
General category
COMMERCIAL
Zone area
105.90 ac
Source
Realmo
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 Anoka submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Anoka 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
by Request
ML approach
$500,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$810,000
Change: 0% · Conversion: Difficult
RESTAURANT
$780,000
Change: 0% · Conversion: Difficult
AUTO REPAIR, GARAGE
$740,000
Change: 0% · Conversion: Difficult
COMMERCIAL (GENERAL)
$635,000
Change: 0% · Conversion: Difficult
OFFICE BUILDING
$605,000
Change: 0% · Conversion: Difficult
WAREHOUSE, STORAGE
$560,000
Change: 0% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$350,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$500k
Range $450k – $550k · ±10%
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
$61 / 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
$35,422
Tax year 2024
Assessed value
$1,376,000
Assessed 2024
Previous assessed
$1,376,000
+0.0% YoY
Effective rate
2.57%
On assessed value
Assessed land
$534,100
Assessed improvement
$841,900
Land market value
$534,100
Improvement market value
$841,900
Total market value
$1,376,000
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
1992
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
EVAPORATIVE
Stories
1
Total area
8,142 SF
Lot
1.78 ac (77,537 SF)
Zoning code
B-1
APN
35-32-25-44-0019
UPID
US46-0699074
Jurisdiction
ANOKA
Zoning & alternative use
B-1 · Anoka, MNZoning B-1 · permitted uses
B-1 · Anoka, MN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of the B-1 Highway Business District is to provide for the establishment of services and limited retail businesses primarily oriented toward motorists and requiring high volumes of traffic and visibility from major roads in order that highway service types of land uses can be provided in a manner compatible with the needs for traffic movement and adjacent residential uses.
Zone name
Highway Business
General category
COMMERCIAL
Zone area
105.90 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES
Est. value
$810,000
RESTAURANT
Est. value
$780,000
AUTO REPAIR, GARAGE
Est. value
$740,000
COMMERCIAL (GENERAL)
Est. value
$635,000
OFFICE BUILDING
Est. value
$605,000
WAREHOUSE, STORAGE
Est. value
$560,000
INDUSTRIAL (GENERAL)
Est. value
$350,000
RETAIL STORES
RESTAURANT
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
OFFICE BUILDING
WAREHOUSE, STORAGE
INDUSTRIAL (GENERAL)
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
1992
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
1.78 ac
Current owner
From public records · entity-resolved
First Bank Elk River
Entity
Free & Clear · 0 yrs held
Mailing address
812 MAIN ST NW, ELK RIVER, MN 55330-1575
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 19, 2025
—
First Bank Elk River
Fber Anoka Mn Landlord LLC
Deed
—
Dec 19, 2025
$3,721,515
Fber Anoka Mn Landlord LLC
First Bank Elk River
Deed
$2,975,796 · First Bank Elk River
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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