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Property profile & analytics
FOR LEASE
Commercial land
20 Lake St N Forest Lake, MN 55025
Individually Owned
3-yr Hold
~
Est. High Equity
Property ID
US46-0573308
For Lease
1 / 2
Contact for pricing
20 Lake St N, Forest Lake, MN 55025
View Listing →
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Total area
2,040 SF
Lot
0.39 ac (16,967 SF)
APN
08-032-21-13-0143
UPID
US46-0573308
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
Benjamin Eriksen · 3 yrs held
Benjamin Eriksen
since 2022
7 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 Forest Lake submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Forest Lake 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
$3,338
Tax year 2023
Assessed value
$114,700
Assessed 2022
Previous assessed
$114,700
+0.0% YoY
Effective rate
2.91%
On assessed value
Assessed land
$114,700
Land market value
$114,700
Total market value
$114,700
Applied tax rate
2,501.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
For Lease
Heating
NONE
Total area
2,040 SF
Lot
0.39 ac (16,967 SF)
APN
08-032-21-13-0143
UPID
US46-0573308
Jurisdiction
WASHINGTON
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
Heating
NONE
Lot
0.39 ac
Current owner
From public records · entity-resolved
Benjamin Eriksen
Individual
Mailing address
PO BOX 245, LAKELAND, MN 55043-0245
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
14 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 15, 2025
—
Bonnis Tax Incorporated
—
Deed
related
$52,000 · Midwestone Bank
Dec 2, 2022
$200,000
Benjamin Eriksen
Special Assets & Advisory Group INC
Deed
$200,000 · Frandsen Bank & Trust
Sep 29, 2021
—
Robert D Pickarski
Daniel E Starry
Deed
related
—
Jul 16, 2020
$500
Deanna J Tschida
Kenneth W Ests Tschida
Grant Deed
related
—
Oct 3, 2018
$65,000
Robert H Collins
Tennis,greig R & Leslie L
Warranty Deed
—
Mar 22, 2018
—
Thomas S Turry
—
Deed
related
$61,407 · Midwest One Bk
Dec 22, 2016
$26,000
Peter Follese
Beck,melissa
Warranty Deed
—
Sep 20, 2016
$85,500
Lakes Area Youth Service Burea
Alma Holdings LLC
Grant Deed
—
Sep 20, 2016
—
Lakes Area Youth Svc Bureau In
Alma Holdings LLC
Quitclaim Deed
related
—
Jun 1, 2016
$190,000
Bk Properties INC
Jjjd Associates
Grant Deed
related
—
Jan 17, 2007
$550,000
Broadway Ventures LLC
Gas Mart INC
Warranty Deed
—
Aug 30, 2006
$400,000
Gas Mart INC
Kaku Investments INC
Warranty Deed
—
Nov 17, 2005
$400,000
Gas Nart INC
Kaku Investments INC
Grant Deed
—
May 24, 2005
$300,000
Kaku Investments INC
Crown Coco INC
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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