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Property profile & analytics
OFF-MARKET
Estimated value
$585,000
Warehouses
15444 Sherbrooke Rd, Pelican Rapids, MN 56572-9329
Entity Owned
4-yr Hold
Free & Clear
Property ID
US46-2404961
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2021
Construction
FRAME
Total area
7,000 SF
Lot
3.45 ac (150,282 SF)
Zoning code
AGRICULTURAL
APN
60479001
UPID
US46-2404961
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
$585k
Owner & transaction history
Kj Development LLC · 4 yrs held
Kj Development LLC
since 2021
3 recorded transactions
Zoning & alternative use
AGRICULTURAL · Pelican Rapids, 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 Pelican Rapids submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Pelican 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
$84 / 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
$8,856
Tax year 2023
Assessed value
$567,000
Assessed 2023
Previous assessed
$179,800
+215.4% YoY
Effective rate
1.56%
On assessed value
Assessed land
$32,900
Assessed improvement
$534,100
Land market value
$32,900
Improvement market value
$534,100
Total market value
$567,000
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
2021
Construction
FRAME
Heating
FLOOR/WALL FURNACE
Stories
1
Total area
7,000 SF
Lot
3.45 ac (150,282 SF)
Zoning code
AGRICULTURAL
APN
60479001
UPID
US46-2404961
Jurisdiction
BECKER
Zoning & alternative use
AGRICULTURAL · Pelican Rapids, MN
Zoning AGRICULTURAL · permitted uses
AGRICULTURAL · Pelican Rapids, MN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Pelican Rapids. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2021
Construction
FRAME
Heating
FLOOR/WALL FURNACE
Stories
1
Lot
3.45 ac
Current owner
From public records · entity-resolved
Kj Development LLC
Entity
Free & Clear · 4 yrs held
Mailing address
2138 MAIN AVE W, WEST FARGO, ND 58078-1346
Ownership since
2021
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
Aug 5, 2021
—
Kj Development LLC
Craig E Johnson
Quit Claim Deed
related
—
Mar 28, 2016
—
Craig E Johnson
J & J Agronomy LLP
Warranty Deed
—
Sep 10, 2009
$82,000
J & J Agronomy LLP
Bernard E Rick
Warranty 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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