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Property profile & analytics
OFF-MARKET
Estimated value
$795,000
Distribution centers
2615 Herington SE Ave Bemidji, MN 56601
Entity Owned
10-yr Hold
Free & Clear
Property ID
US46-2148342
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
2014
Construction
WOOD
Total area
10,500 SF
Lot
3.32 ac (144,593 SF)
APN
80.05738.00
UPID
US46-2148342
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
Current use
Occupant on record · Public records
-
Isalis (Bike/Boat/Book/etc) Store
-
Party City Party Supply Store (Bike/Boat/Book/etc) Store
-
Skunk Funk Big Box & Wholesale Store
-
Carl's Trading Co Hat Shop
-
Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$795k
Owner & transaction history
Bemidji 13 LLC · 10 yrs held
Bemidji 13 LLC
since 2015
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.1M
+39.5%
Office building
$1.1M
+36.3%
Apartment house (5+ units)
$1.1M
+33.0%
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 Bemidji submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bemidji 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
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$800,000
Current use
COMMERCIAL (GENERAL)
$1,115,000
Change: +39% · Conversion: Difficult
OFFICE BUILDING
$1,090,000
Change: +36% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,060,000
Change: +33% · Conversion: Difficult
RESTAURANT
$1,045,000
Change: +31% · Conversion: Difficult
RETAIL STORES
$730,000
Change: -9% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$675,000
Change: -15% · Conversion: Easy
AUTO REPAIR, GARAGE
$670,000
Change: -16% · Conversion: Easy
Blend value · Realmo final
$795k
Range $716k – $875k · ±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
$76 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$16,244
Tax year 2024
Assessed value
$621,200
Assessed 2024
Previous assessed
$621,200
+0.0% YoY
Effective rate
2.61%
On assessed value
Assessed land
$144,600
Assessed improvement
$476,600
Land market value
$144,600
Improvement market value
$476,600
Total market value
$621,200
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
2014
Construction
WOOD
Total area
10,500 SF
Lot
3.32 ac (144,593 SF)
APN
80.05738.00
UPID
US46-2148342
Jurisdiction
BELTRAMI
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$800,000
COMMERCIAL (GENERAL)
Est. value
$1.1M
OFFICE BUILDING
Est. value
$1.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.1M
RESTAURANT
Est. value
$1.0M
RETAIL STORES
Est. value
$730,000
INDUSTRIAL (GENERAL)
Est. value
$675,000
AUTO REPAIR, GARAGE
Est. value
$670,000
WAREHOUSE, STORAGE Current
COMMERCIAL (GENERAL)
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
RESTAURANT
RETAIL STORES
INDUSTRIAL (GENERAL)
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2014
Construction
WOOD
Lot
3.32 ac
Current owner
From public records · entity-resolved
Bemidji 13 LLC
Entity
Free & Clear · 10 yrs held
Mailing address
PO BOX 1417, SAINT CLOUD, MN 56302-1417
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 23, 2015
—
Bemidji 13 LLC
Spee Dee Delivery Service INC
Quit Claim Deed
related
—
Sep 15, 2014
$65,869
Spee Dee Delivery Service INC
Bemidji Development Corporation
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.
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