Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    400 Evans NW Ave Elk River, MN 55330-2604

    • Assisted living facilities
    • 65,733 SF
    • 8.89 lot acres
    OFF-MARKET
    Value Estimations
    $650,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US46-0802173
    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

    • Assisted living facilities

    Property Details for 400 Evans NW Ave

    Year built
    1965
    Construction
    CONCRETE
    Lot size
    8.89 lot acres
    Property size
    65,733 SF
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    75-544-0105
    APU
    755440105

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $650,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Elk River
    County
    Sherburne
    State
    Minnesota
    Longitude
    -93.5582
    Latitude
    45.3063
    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
    $0.00
    $580,900
    $9,759,500
    $10,340,400
    -
    $580,900
    $9,759,500
    $10,340,400

    Comparable in this City

    • Value Estimation by Request
      864 SF

      413 Main NW St

      HOMES (RETIRED, NURSING) • 864 SF
      413 Main NW St, Elk River, MN 55330-1533
      View Details
    • Value Estimation
      $725,000
      45,273 SF

      9200 Quantrelle NE Ave

      HOMES (RETIRED, NURSING) • 45,273 SF
      9200 Quantrelle NE Ave, Otsego, MN 55330-1048
      View Details
    • Value Estimation
      $700,000
      37,218 SF

      13439 185th NW Ln

      HOMES (RETIRED, NURSING) • 37,218 SF
      13439 185th NW Ln, Elk River, MN 55330-2713
      View Details
    • Value Estimation by Request
      0.18 Acres

      Elk River, MN 55330

      HOMES (RETIRED, NURSING) • 0.18 Acres
      Elk River, MN 55330
      View Details
    • Value Estimation by Request
      2,694 SF

      403 Main NW St

      HOMES (RETIRED, NURSING) • 2,694 SF
      403 Main NW St, Elk River, MN 55330-1533
      View Details
    • Value Estimation
      $4,170,000
      11,560 SF

      8540 Quaday NE Ave

      MEDICAL BUILDING • 11,560 SF
      8540 Quaday NE Ave, Otsego, MN 55330-6522
      View Details

    Similar Nearby for Sale

    • $325,000

      End-Unit Townhome with Wooded Views

      End-unit townhome with unfinished basement and updated features.
      10966 185Th Ave NW, Elk River, MN 55330
      View Details
    • 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
    • $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
      View Details
    • $1,056,757

      Development Land Near Transportation Hub

      12.13 acres with highway access and commuter rail.
      17610 Tyler St NW, Elk River, MN 55330
      View Details
    • $550,000

      Elk River Commercial Land

      1.64 acre commercial land with C3 zoning.
      19101 Jackson Ave NW, Elk River, MN 55330
      View Details
    • $1,850,000
      25.00 Acres

      Commercial Land on Highway 101

      25 acres of commercial land with highway and river frontage.
      Xxx Parrish Ave NE, Otsego, MN 55330
      View Details

    Similar Nearby for Lease

    • 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
      968 SF

      Highway 10 Office Space

      Office space with excellent visibility and ample parking.
      9942-9956 Highway 10 NW, Elk River, MN 55330
      View Details
    • $22 SF/Yr
      1,260 SF

      Elk River Office Space

      Prime commercial space for lease on Main Street in Elk River.
      327 Main St NW, Elk River, MN 55330
      View Details
    • Contact for pricing
      15,000 SF

      Retail Pad Sites For Lease

      Junior box or medical building pad sites available for lease.
      Holt St SW, Elk River, MN 55330
      View Details
    • $17 SF/Yr
      1,635 SF

      Retail Center on Highway 10

      19,544 SF retail center with highway visibility for lease.
      13501 Business Center Dr NW, Elk River, MN 55330
      View Details
    • Contact for pricing
      26,000 SF

      Highway 101 Commercial Space

      26,000 SF commercial space for rent near I-94.
      7880 River Rd NE, Otsego, MN 55330
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    400 Evans NW Ave
    Elk River, MN 55330-2604
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.