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Property profile & analytics
OFF-MARKET
Bars & Pubs
468 Bemidji NW Rd, Turtle River, MN 56601-6028
Individually Owned
Absentee Owner
Free & Clear
Property ID
US46-2946649
Property profile
Verified
Property type
Bars & Pubs
Use group
BAR, TAVERN
Year built
2013
Construction
WOOD
Total area
3,096 SF
Lot
2.96 ac (128,938 SF)
APN
86.00020.00
UPID
US46-2946649
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
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Gordon W Lancaster
Gordon W Lancaster
since 2025
7 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 Turtle River submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Turtle 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$5,840
Tax year 2024
Assessed value
$313,500
Assessed 2024
Previous assessed
$313,500
+0.0% YoY
Effective rate
1.86%
On assessed value
Assessed land
$65,100
Assessed improvement
$248,400
Land market value
$65,100
Improvement market value
$248,400
Total market value
$313,500
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
Bars & Pubs
Use group
BAR, TAVERN
Status
Off-Market
Year built
2013
Construction
WOOD
Heating
RADIANT
Total area
3,096 SF
Lot
2.96 ac (128,938 SF)
APN
86.00020.00
UPID
US46-2946649
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
Building & site characteristics
From public records
Year built
2013
Construction
WOOD
Heating
RADIANT
Lot
2.96 ac
Current owner
From public records · entity-resolved
Gordon W Lancaster
Individual
Free & Clear · 0 yrs held
Mailing address
209 MINNESOTA AVE NW, BEMIDJI, MN 56601-4026
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 19, 2025
—
Gordon W Lancaster
Gordon W Lancaster
Quitclaim Deed
related
—
Sep 27, 2013
—
Brothers Group LLC
Fleahman Holdings LLC
Warranty Deed
$885,000 · The First National Bank Of Bemidji
Aug 26, 2011
$159,000
Fleahman Holdings LLC
Wes Seitz
Warranty Deed
$310,000 · Brad Fleahman Etux
Jul 14, 2011
—
Wes Seitz
Richard D Howe SR.
Limited Warranty Deed
—
Aug 27, 2009
$55,000
Wes Seitz
Squirrel & Wes Partnership
Warranty Deed
—
Apr 3, 2007
$237,503
Squirrel & West Partnership
D D & J Enterprises LLC
Corporation Deed
—
Feb 3, 2005
—
Gregory D Earl
Gordon W Lancaster
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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