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    Property profile & analytics

    23933 119th NW St Elk River, MN 55330-5033

    • Industrial properties
    • 6,800 SF
    • 8.13 lot acres
    OFF-MARKET
    Value Estimations
    $945,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US46-2480716
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Industrial properties

    Property Details for 23933 119th NW St

    Year built
    2021
    Lot size
    8.13 lot acres
    Property size
    6,800 SF
    Property type
    Industrial properties
    APN
    30-570-0105
    APU
    305700105

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,230,000
      6.5%
      $1,135,000
      7%
      $1,055,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $919,000
      Market price range: $173k - $919k
      AI Estimate
      $778,000
      Market price range: $186k - $804k

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $585,000
      Current use
      COMMERCIAL (GENERAL)
      $1,420,000
      Change: +142% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Elk River
    County
    Sherburne
    State
    Minnesota
    Longitude
    -93.568
    Latitude
    45.4054
    CBSA code
    33460
    CBSA name
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $22,018
    $132,900
    $851,300
    $984,200
    -
    $132,900
    $851,300
    $984,200

    Comparable in this City

    • Value Estimation
      $805,000
      8,356 SF

      19960 Ferret NW St

      INDUSTRIAL (GENERAL) • 8,356 SF
      19960 Ferret NW St, Nowthen, MN 55330-0047
      View Details
    • Value Estimation
      $2,000,000
      88,010 SF

      9821 Gtwy NW Rd

      INDUSTRIAL (GENERAL) • 88,010 SF
      9821 Gtwy NW Rd, Elk River, MN 55330-9582
      View Details
    • Value Estimation by Request
      916 SF

      23100 Sugarbush NW Rd

      INDUSTRIAL (GENERAL) • 916 SF
      23100 Sugarbush NW Rd, Elk River, MN 55330-9157
      View Details
    • Value Estimation by Request
      1,286 SF

      23100 Sugarbush NW Rd

      INDUSTRIAL (GENERAL) • 1,286 SF
      23100 Sugarbush NW Rd, Elk River, MN 55330-9157
      View Details
    • Value Estimation by Request
      5.00 Acres

      71St St

      Land • 5.00 Acres
      0 71St St, Otsego, MN 55330
      View Details
    • Value Estimation by Request
      10,000 SF

      16800 Us-10

      Lifestyle centers • 10,000 SF
      16800 Us-10, Elk River, MN 55330
      View Details

    Similar Nearby for Sale

    • $2,199,000
      11,880 SF

      New Construction Industrial Building Available

      New industrial building in I-94 West Industrial Park for sale.
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      63,934 SF

      Elk River Industrial Facility

      63,934 SF industrial facility in Elk River, Minnesota.
      19178 Industrial Blvd NW, Elk River, MN 55330
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    • $130,000
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      Residential Land in Elk River

      Large 1.59 acre lot in desirable Elk River location.
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    • $80,000
      2.50 Acres

      Land for Residential Development

      2.5-acre lot for building a new home.
      20072 Lander St NW, Elk River, MN 55330
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    • $200,000
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      Residential Land in Elk River

      5-acre residential land for sale in Elk River, Minnesota.
      203xx Wilson St NW, Elk River, MN 55330
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    • Contact for pricing

      Redevelopment Site at Elk River

      Former theater site with redevelopment potential and highway access.
      570 Freeport Ave NW, Elk River, MN 55330
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      34,776 SF

      Modern Industrial Space For Rent

      Functional industrial space with office build-out and heavy power.
      17834 Industrial Cir NW, Elk River, MN 55330
      View Details
    • Contact for pricing

      Otsego Warehouse Space Available

      Warehouse/Industrial property for rent in Otsego, Minnesota.
      6400 Queens Ct NE, Otsego, MN 55330
      View Details
    • Contact for pricing
      401,554 SF

      Otsego Warehouse and Distribution Space

      Available for lease or sale, build-to-suit warehouse and distribution.
      6300 Queens Ave NE, Otsego, MN 55330
      View Details
    • Contact for pricing
      8,892 SF

      Elk River Warehouse Space

      Warehouse space in Elk River with ample parking.
      15725 Jarvis St NW, Elk River, MN 55330
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    • Contact for pricing
      1,822 SF

      Retail Space on Highway 169

      Retail space with high visibility and ample parking available for rent.
      19320-19344 Highway 169 NW, Elk River, MN 55330
      View Details
    • Contact for pricing
      7,834 SF

      Retail Space in Elk River

      Retail space available in a vibrant Elk River shopping center.
      19160-19186 Freeport Ave, Elk River, MN 55330
      View Details
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    23933 119th NW St
    Elk River, MN 55330-5033
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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