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    30 Graceson Ave Akeley, MN 56433
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    30 Graceson Ave Akeley, MN 56433

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    • Apartment buildings
    • 7,200 SF
    • 0.50 lot acres
    For Sale
    $399,000
    View Listing →
    Akeley 8-Unit Apartment Complex For Sale
    $399,000
    7,200 SF

    Akeley 8-Unit Apartment Complex

    High-yield investment, prime Akeley location.

    30 Graceson Ave, Akeley, MN 56433
    View Listing
    Property ID
    US46-2248243
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 30 Graceson Ave

    Year built
    1997
    Lot size
    0.50 lot acres
    Property size
    7,200 SF
    Property type
    Apartment buildings

    Description

    This exceptional 8-unit apartment complex presents a lucrative investment opportunity in the desirable town of Akeley, Minnesota. Boasting a total of 7,200 square feet, this property sits on a half-acre lot, offering ample space and potential for future development or expansion. Its convenient location provides easy access to the amenities and attractions of nearby Walker, including the renowned Leech Lake. Residents enjoy a peaceful small-town atmosphere while remaining within a short driving distance of major shopping, dining, and recreational opportunities. The property's strong rental income stream makes it an attractive proposition for both seasoned investors seeking portfolio diversification and newcomers looking for a stable, high-return investment. The existing structure presents a solid foundation for continued success, with the potential for further value enhancement through strategic property management and upgrades. This is a rare opportunity to acquire a well-situated, income-generating asset in a thriving Minnesota community. The property's strong location and established tenant base contribute to its overall appeal and potential for long-term growth. This turnkey investment is ready for immediate income generation and offers significant upside potential. Serious inquiries are encouraged.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Akeley
    County
    Hubbard
    State
    Minnesota
    Longitude
    -94.72839
    Latitude
    47.00288

    Comparable in this City

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      19.75 Acres

      20 Acres Near Heartland Trail

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    • $46,900
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      Akeley, MN: 6.2 Acres Land

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    • $699,000

      Red River Bar and Grill

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    • $49,900
      Pending

      Scenic Lake Access Land

      3.69-acre lot with shared access to Crow Wing Lake.
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      40.00 Acres

      40 Acres Wooded Recreational Land

      Wooded 40-acre property with cabin, ideal for outdoor enthusiasts.
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      1,550 SF

      Grand Trailhead Storage Suites

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    Similar Nearby for Sale

    • $124,900
      19.75 Acres

      20 Acres Near Heartland Trail

      20-acre property near Nevis with trails and building sites.
      285Th Ave, Akeley, MN 56433
      View Details
    • $46,900
      6.20 Acres

      Akeley, MN: 6.2 Acres Land

      6.2 acres of private woods near Williams and Ten Mile Lakes.
      Tbd County Rd 12, Akeley, MN 56433
      View Details
    • $699,000

      Red River Bar and Grill

      Turn-key bar and grill with off-sale liquor store.
      31075 State Hwy 34, Akeley, MN 56433
      View Details
    • $49,900
      Pending

      Scenic Lake Access Land

      3.69-acre lot with shared access to Crow Wing Lake.
      29145 Gopher Ln, Akeley, MN 56433
      View Details
    • Contact for pricing
      40.00 Acres

      40 Acres Wooded Recreational Land

      Wooded 40-acre property with cabin, ideal for outdoor enthusiasts.
      31538 County 23, Akeley, MN 56433
      View Details
    • Contact for pricing
      1,550 SF

      Grand Trailhead Storage Suites

      Heated storage suites near Heartland Trail with recreational access.
      28440 Grand Trailhead Dr, Akeley, MN 56433
      View Details
    View Listing
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    Akeley, MN 56433
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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.

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