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Property profile & analytics
FOR SALE
Commercial real estate
251 8Th St Northwest Elk River, MN 55330
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US46-0256717
For Sale
1 / 2
$635,000
251 8Th St Northwest, Elk River, MN 55330
View Listing →
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1986
Total area
6,000 SF
Lot
0.76 ac (33,106 SF)
APN
75-445-0130
UPID
US46-0256717
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
$850k
Blend (final)
Blend
$675k
Owner & transaction history
Sitts LLC · 11 yrs held
Sitts LLC
since 2015
6 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 Elk River submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Elk River 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
$675k
Range $608k – $743k · ±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
$113 / 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
$10,658
Tax year 2023
Assessed value
$466,600
Assessed 2023
Previous assessed
$402,900
+15.8% YoY
Effective rate
2.28%
On assessed value
Assessed land
$163,400
Assessed improvement
$303,200
Land market value
$163,400
Improvement market value
$303,200
Total market value
$466,600
Applied tax rate
75.0000
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 real estate
Use group
COMMERCIAL (GENERAL)
Status
For Sale
Year built
1986
Heating
FORCED AIR
Total area
6,000 SF
Lot
0.76 ac (33,106 SF)
APN
75-445-0130
UPID
US46-0256717
Jurisdiction
SHERBURNE
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
1986
Heating
FORCED AIR
Lot
0.76 ac
Current owner
From public records · entity-resolved
Sitts LLC
Entity
Mailing address
251 8TH ST NW, ELK RIVER, MN 55330-1572
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 5, 2020
—
Sitts LLC
—
Deed
related
$304,500 · Bank Of Elk River
Jul 9, 2015
$343,681
Sitts LLC
Kaap Enterprises LLC
Warranty Deed
$349,000 · The Bank Of Elk River
Sep 13, 2012
$343,681
Sitts LLC
Kaap Ents LLC
Dual Purpose Document
$343,681 · Kaap Ents LLC
Apr 5, 2010
$300,000
Kaap Ents LLC
Wells Fargo Bk NA
Grant Deed
—
Nov 20, 2009
—
Fargo Bk NA Wells
A & N Properties
Warranty Deed
related
—
—
—
Sitts LLC
—
Loan Modification
related
$304,500 · Bank Of Elk River
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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