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Property profile & analytics
OFF-MARKET
Estimated value
$1,360,000
Office buildings
22796 County Hwy 6th 6 Detroit Lakes, MN 56501-7002
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US46-2450714
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1983
Total area
25,112 SF
Lot
7.45 ac (324,522 SF)
Zoning code
INDUSTRIAL
APN
170002000
UPID
US46-2450714
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
$1.41M
Blend (final)
Blend
$1.36M
Owner & transaction history
Ledgestone INC · 9 yrs held
Ledgestone INC
since 2016
3 recorded transactions
Zoning & alternative use
INDUSTRIAL · Detroit Lakes, 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 Detroit Lakes submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Detroit Lakes 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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.36M
Range $1.22M – $1.50M · ±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
$54 / 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
$21,928
Tax year 2023
Assessed value
$1,257,300
Assessed 2023
Previous assessed
$1,138,000
+10.5% YoY
Effective rate
1.74%
On assessed value
Assessed land
$74,600
Assessed improvement
$1,182,700
Land market value
$74,600
Improvement market value
$1,182,700
Total market value
$1,257,300
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1983
Buildings
2
Stories
1
Total area
25,112 SF
Lot
7.45 ac (324,522 SF)
Zoning code
INDUSTRIAL
APN
170002000
UPID
US46-2450714
Jurisdiction
BECKER
Zoning & alternative use
INDUSTRIAL · Detroit Lakes, MN
Zoning INDUSTRIAL · permitted uses
INDUSTRIAL · Detroit Lakes, MN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Detroit Lakes. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1983
Stories
1
Buildings
2
Lot
7.45 ac
Current owner
From public records · entity-resolved
Ledgestone INC
Entity
Mailing address
22215 COUNTY HWY 6TH 6, DETROIT LAKES, MN 56501-7002
Ownership since
2016
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
Feb 25, 2026
—
Vb S1 Assets LLC
—
Deed
related
$157,870 · Deutsche Bank Trust Co Americas
Oct 10, 2016
$60,000
Ledgestone INC
Borash Legacy Investments LLC
Warranty Deed
—
Oct 24, 2011
—
Borash Legacy Investments LLC
Robert Borash
Quit Claim Deed
related
$1,007,000 · Midwest 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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