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Property profile & analytics
OFF-MARKET
Estimated value
$835,000
Industrial properties
1320 Neilson SE Ave Bemidji, MN 56601
Individually Owned
6-yr Hold
~
Est. High Equity
Property ID
US46-3071871
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1977
Total area
12,866 SF
Lot
2.01 ac (87,399 SF)
APN
80.04381.00
UPID
US46-3071871
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
$910k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.11M
Blend (final)
Blend
$835k
Owner & transaction history
Headwaters Regional Dev Commission · 6 yrs held
Headwaters Regional Dev Commission
since 2020
Last sale
$650,000
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.4M
+64.6%
Office building
$1.3M
+60.8%
Apartment house (5+ units)
$1.3M
+56.9%
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
$850,000
ML approach
$910,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$830,000
Current use
COMMERCIAL (GENERAL)
$1,365,000
Change: +65% · Conversion: Difficult
OFFICE BUILDING
$1,335,000
Change: +61% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,300,000
Change: +57% · Conversion: Difficult
RESTAURANT
$1,280,000
Change: +54% · Conversion: Difficult
WAREHOUSE, STORAGE
$980,000
Change: +18% · Conversion: Easy
RETAIL STORES
$895,000
Change: +8% · Conversion: Moderate
AUTO REPAIR, GARAGE
$820,000
Change: -1% · Conversion: Easy
Blend value · Realmo final
$835k
Range $752k – $919k · ±10% · vs last sale $650k (Jan 15 2020)
Last sale anchor
$650k
Jan 15 2020
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
$65 / 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
$172
Tax year 2024
Assessed value
$726,800
Assessed 2024
Previous assessed
$726,800
+0.0% YoY
Effective rate
0.02%
On assessed value
Assessed land
$108,600
Assessed improvement
$618,200
Land market value
$108,600
Improvement market value
$618,200
Total market value
$726,800
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1977
Total area
12,866 SF
Lot
2.01 ac (87,399 SF)
APN
80.04381.00
UPID
US46-3071871
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
$830,000
COMMERCIAL (GENERAL)
Est. value
$1.4M
OFFICE BUILDING
Est. value
$1.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.3M
RESTAURANT
Est. value
$1.3M
WAREHOUSE, STORAGE
Est. value
$980,000
RETAIL STORES
Est. value
$895,000
AUTO REPAIR, GARAGE
Est. value
$820,000
INDUSTRIAL (GENERAL) Current
COMMERCIAL (GENERAL)
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
RESTAURANT
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
1977
Lot
2.01 ac
Current owner
From public records · entity-resolved
Headwaters Regional Dev Commission
Individual
Mailing address
PO BOX 906, BEMIDJI, MN 56619-0906
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 15, 2020
$650,000
Headwaters Regional Dev Commission
Marcil Family Lllp
Warranty Deed
$500,000 · Riverwood Bank
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.
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