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Property profile & analytics
OFF-MARKET
Estimated value
$1,140,000
Office buildings
3124 Hannah NW Ave, Bemidji, MN 56601-5625
Entity Owned
8-yr Hold
Free & Clear
Property ID
US46-2749658
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1996
Construction
WOOD
Total area
6,841 SF
Lot
1.58 ac (68,825 SF)
APN
80.05065.00
UPID
US46-2749658
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
$1.22M
Blend (final)
Blend
$1.14M
Owner & transaction history
Beltrami County · 8 yrs held
Beltrami County
since 2018
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$1.4M
+50.9%
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
OFFICE BUILDING
$925,000
Current use
APARTMENT HOUSE (5+ UNITS)
$1,400,000
Change: +51% · Conversion: Easy
Blend value · Realmo final
$1.14M
Range $1.03M – $1.25M · ±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
$167 / 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
$172
Tax year 2024
Assessed value
$1,069,000
Assessed 2024
Previous assessed
$1,069,000
+0.0% YoY
Effective rate
0.02%
On assessed value
Assessed land
$299,200
Assessed improvement
$769,800
Land market value
$299,200
Improvement market value
$769,800
Total market value
$1,069,000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1996
Construction
WOOD
Heating
BASEBOARD
Cooling
CENTRAL
Total area
6,841 SF
Lot
1.58 ac (68,825 SF)
APN
80.05065.00
UPID
US46-2749658
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
OFFICE BUILDING Current
Est. value
$925,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.4M
OFFICE BUILDING Current
APARTMENT HOUSE (5+ UNITS)
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
1996
Construction
WOOD
Heating
BASEBOARD
Cooling
Yes
Lot
1.58 ac
Current owner
From public records · entity-resolved
Beltrami County
Entity
Free & Clear · 8 yrs held
Mailing address
701 MINNESOTA AVE NW, BEMIDJI, MN 56601-3096
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 22, 2018
—
Beltrami County
Sanford Health Of Northern Minnesot
Quit Claim Deed
related
—
Jan 16, 2018
—
Sanford Health Of Northern Minnesot
Prime West Rural Minnesota Health C
Quit Claim Deed
related
—
Jan 30, 2008
$933,475
Prime West Central County Based Pur
Beaver Tale Properties LLC
Warranty Deed
—
Jul 5, 2005
$653,000
Beaver Tale Properties LLC
State Farm Mutual Aotumobile Insura
Limited 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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