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Property profile & analytics
FOR SALE
Office buildings
201 1St St E Park Rapids, MN 56470
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US46-2847988
For Sale
1 / 27
Contact for pricing
201 1St St E, Park Rapids, MN 56470
View Listing →
Property summary
AI-generated overview
This exceptional two-story office building, totaling 3,742 square feet, is ideally situated in Park Rapids, Minnesota, at 201 1st St E, 56470. The property boasts a highly desirable location in the heart of the business district, conveniently positioned near the intersection of Highways 34 and 71, ensuring high visibility and traffic flow. The building's proximity to the Fish Hook River and the Heartland State Trail offers picturesque views and access to foot traffic from nearby parks and trails. Currently, the entire 3,742 square feet is available for lease, offering flexible space options with a minimum divisible unit of 90 square feet and a maximum contiguous space of 1,650 square feet. The property is zoned for commercial use and features ample parking for tenants and their clients. This is a unique opportunity to establish or expand your business in a vibrant and accessible location within Hubbard County. The building consists of one structure with multiple tenancy options.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1950
Total area
2,795 SF
Lot
0.48 ac (20,909 SF)
APN
32.41.00200
UPID
US46-2847988
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
Bch Builders LLC · 4 yrs held
Bch Builders LLC
since 2021
1 recorded transaction
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
$6,999
Tax year 2023
Assessed value
$377,600
Assessed 2023
Previous assessed
$222,200
+69.9% YoY
Effective rate
1.85%
On assessed value
Assessed land
$127,400
Assessed improvement
$250,200
Land market value
$127,400
Improvement market value
$250,200
Total market value
$377,600
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
Office buildings
Use group
OFFICE BUILDING
Status
For Sale
Year built
1950
Buildings
2
Total area
2,795 SF
Lot
0.48 ac (20,909 SF)
APN
32.41.00200
UPID
US46-2847988
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
1950
Buildings
2
Lot
0.48 ac
Current owner
From public records · entity-resolved
Bch Builders LLC
Entity
Mailing address
590 HL ST NW, AKELEY, MN 56433-8001
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 29, 2021
—
Bch Builders LLC
—
Deed
related
$148,000 · Bell Bank
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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