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Property profile & analytics
OFF-MARKET
Bowling alleys
1400 1st E St Park Rapids, MN 56470-1803
Entity Owned
2-yr Hold
Free & Clear
Property ID
US46-2192988
Property profile
Verified
Property type
Bowling alleys
Use group
BOWLING ALLEY
Year built
2001
Total area
13,668 SF
Lot
2.27 ac (98,881 SF)
APN
32.30.00300
UPID
US46-2192988
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Pr Pr LLC · 2 yrs held
Pr Pr LLC
since 2024
4 recorded transactions
Zoning & alternative use
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 Park Rapids submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Park Rapids 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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 2023Property tax & assessments
Tax year 2023
Tax billed
$20,108
Tax year 2023
Assessed value
$732,300
Assessed 2023
Previous assessed
$593,300
+23.4% YoY
Effective rate
2.75%
On assessed value
Assessed land
$170,200
Assessed improvement
$562,100
Land market value
$170,200
Improvement market value
$562,100
Total market value
$732,300
Applied tax rate
3,201.0000
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
Bowling alleys
Use group
BOWLING ALLEY
Status
Off-Market
Year built
2001
Heating
FORCED AIR
Buildings
3
Total area
13,668 SF
Lot
2.27 ac (98,881 SF)
APN
32.30.00300
UPID
US46-2192988
Jurisdiction
HUBBARD
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
2001
Heating
FORCED AIR
Buildings
3
Lot
2.27 ac
Current owner
From public records · entity-resolved
Pr Pr LLC
Entity
Free & Clear · 2 yrs held
Mailing address
1400 1ST ST E STE #308, PARK RAPIDS, MN 56470-1803
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
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
Mar 25, 2025
—
Pr Pr LLC
—
Deed
related
$150,000 · City Of Park Rapids
Feb 3, 2025
—
Pr Pr LLC
—
Deed
related
$150,000 · City Of Park Rapids
Dec 5, 2024
—
Pr Pr LLC
—
Deed
related
$2,055,780 · Citizens National Bank Of Park Rapids
Jul 16, 2024
—
Pr Pr LLC
Crep Loralie Rhetta Est
Deed
—
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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