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Property profile & analytics
OFF-MARKET
Estimated value
$530,000
Showrooms
18884 Eagle Bnd Rd Park Rapids, MN 56470-2073
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US46-2789542
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
2008
Total area
5,600 SF
Lot
5.02 ac (218,671 SF)
APN
13.21.00610
UPID
US46-2789542
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
$330k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$730k
Blend (final)
Blend
$530k
Owner & transaction history
Up North Mn INC · 8 yrs held
Up North Mn INC
since 2017
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$505,000
+13.7%
Restaurant
$445,000
+0.9%
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 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
by Request
ML approach
$330,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$445,000
Current use
OFFICE BUILDING
$505,000
Change: +14% · Conversion: Easy
RESTAURANT
$445,000
Change: +1% · Conversion: Difficult
RETAIL STORES
$425,000
Change: -4% · Conversion: Easy
Blend value · Realmo final
$530k
Range $477k – $583k · ±10%
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
$95 / 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
$14,363
Tax year 2023
Assessed value
$871,000
Assessed 2023
Previous assessed
$345,000
+152.5% YoY
Effective rate
1.65%
On assessed value
Assessed land
$45,400
Assessed improvement
$825,600
Land market value
$45,400
Improvement market value
$825,600
Total market value
$871,000
Applied tax rate
1,302.0000
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
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
Off-Market
Year built
2008
Heating
HOT WATER
Buildings
3
Total area
5,600 SF
Lot
5.02 ac (218,671 SF)
APN
13.21.00610
UPID
US46-2789542
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
COMMERCIAL (GENERAL) Current
Est. value
$445,000
OFFICE BUILDING
Est. value
$505,000
RESTAURANT
Est. value
$445,000
RETAIL STORES
Est. value
$425,000
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
RESTAURANT
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
2008
Heating
HOT WATER
Buildings
3
Lot
5.02 ac
Current owner
From public records · entity-resolved
Up North Mn INC
Entity
Mailing address
18884 EAGLE BND RD, PARK RAPIDS, MN 56470-2073
Ownership since
2017
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
Oct 11, 2021
—
Up North Mn INC
—
Deed
related
$517,648 · Northwoods Bank Of Mn
Sep 27, 2017
$400,000
Up North Mn INC
Chris D Niemeyer
Warranty Deed
$320,000 · Northwoods Bank Of Minnesota
Jul 18, 2008
$70,000
Eric Crow
Chris D Niemeyer
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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