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    Property profile & analytics

    116 3rd W St Park Rapids, MN 56470

    • Turn key restaurants
    • 2,631 SF
    • 0.06 lot acres
    OFF-MARKET
    Value Estimation
    Last Sale
    Oct 10, 2023
    $19,200
    Location Intelligence
    Property ID
    US46-1996960
    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

    • Turn key restaurants

    Property Details for 116 3rd W St

    Year built
    1930
    Lot size
    0.06 lot acres
    Property size
    2,631 SF
    Property type
    Turn key restaurants
    APN
    32.37.08000
    APU
    323708000

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Park Rapids
    County
    Hubbard
    State
    Minnesota
    Longitude
    -95.0594
    Latitude
    46.9198

    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
    $2,242
    $39,900
    $83,400
    $123,300
    -
    $39,900
    $83,400
    $123,300

    Comparable in this City

    • Value Estimation
      $415,000
      2,727 SF

      218 1st E St

      RESTAURANT • 2,727 SF
      218 1st E St, Park Rapids, MN 56470-1613
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    • Value Estimation
      $400,000
      2,548 SF

      19134 Us 71

      RESTAURANT • 2,548 SF
      19134 Us 71, Park Rapids, MN 56470-3230
      View Details
    • Value Estimation
      $365,000
      12,468 SF

      100 2nd W St

      RESTAURANT • 12,468 SF
      100 2nd W St, Park Rapids, MN 56470-1564
      View Details
    • Value Estimation
      $270,000
      2,442 SF

      120 3rd W St

      RESTAURANT • 2,442 SF
      120 3rd W St, Park Rapids, MN 56470-1509
      View Details
    • Value Estimation
      $400,000
      3,536 SF

      102 Park N Ave

      RESTAURANT • 3,536 SF
      102 Park N Ave, Park Rapids, MN 56470-1520
      View Details
    • Value Estimation
      $365,000
      8,668 SF

      20427 State 226

      RESTAURANT • 8,668 SF
      20427 State 226, Park Rapids, MN 56470-5025
      View Details

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    Park Rapids, MN 56470
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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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