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Property profile & analytics
OFF-MARKET
Estimated value
$635,000
Auto shops
1401 1st E St Park Rapids, MN 56470-1803
Entity Owned
~
Est. High Equity
Property ID
US46-2086190
Property profile
Verified
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Year built
1982
Total area
5,580 SF
Lot
3.34 ac (145,490 SF)
APN
32.19.03100
UPID
US46-2086190
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
$605k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$635k
Owner & transaction history
Mills & Brown Investments LLC
Mills & Brown Investments LLC
since 2026
Last sale
$657,000
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$500,000
+87.4%
Restaurant
$445,000
+66.3%
Commercial (general)
$440,000
+64.8%
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
Method
Estimation
Statistic approach
$620,000
ML approach
$605,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$500,000
Change: +87% · Conversion: Difficult
RESTAURANT
$445,000
Change: +66% · Conversion: Difficult
COMMERCIAL (GENERAL)
$440,000
Change: +65% · Conversion: Moderate
RETAIL STORES
$425,000
Change: +59% · Conversion: Difficult
Blend value · Realmo final
$635k
Range $572k – $699k · ±10% · vs last sale $657k (Jul 20 2022)
Last sale anchor
$657k
Jul 20 2022
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
$114 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$13,287
Tax year 2023
Assessed value
$503,800
Assessed 2023
Previous assessed
$485,400
+3.8% YoY
Effective rate
2.64%
On assessed value
Assessed land
$235,500
Assessed improvement
$268,300
Land market value
$235,500
Improvement market value
$268,300
Total market value
$503,800
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
Auto shops
Use group
AUTO REPAIR, GARAGE
Status
Off-Market
Year built
1982
Heating
FORCED AIR
Buildings
2
Total area
5,580 SF
Lot
3.34 ac (145,490 SF)
APN
32.19.03100
UPID
US46-2086190
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
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$500,000
RESTAURANT
Est. value
$445,000
COMMERCIAL (GENERAL)
Est. value
$440,000
RETAIL STORES
Est. value
$425,000
OFFICE BUILDING
RESTAURANT
COMMERCIAL (GENERAL)
RETAIL STORES
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
1982
Heating
FORCED AIR
Buildings
2
Lot
3.34 ac
Current owner
From public records · entity-resolved
Mills & Brown Investments LLC
Entity
Mailing address
1401 1ST ST E, PARK RAPIDS, MN 56470-1803
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 22, 2026
$1,100,000
Mills & Brown Investments LLC
Trinity Property Development LLC
Warranty Deed
$1,023,500 · Citizens National Bank/paris
Aug 14, 2024
—
Trinity Property Development LLC
—
Deed
related
$280,000 · Citizens National Bank Of Park Rapids
Jul 20, 2022
$657,000
Trinity Prop Dev LLC
Charles P Kellner
Warranty Deed
$700,000 · Citizens Natl Bank Pr
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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