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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
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, MN
Zoning 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
Anoka. Always verify with local authorities before improvements.
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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