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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    505 Broadway Little Falls, MN 56345-3244

    • Sports & entertainment properties
    • 6,316 SF
    OFF-MARKET
    Last Sale
    May 05, 2023
    Value Estimations
    $265,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US46-1888644
    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

    • Fitness Connection / Physical Fitness Program
    • New 2 You / Thrift Store

    Property Details for 505 Broadway

    Year built
    2007
    Construction
    STEEL FRAME
    Property size
    6,316 SF
    Property type
    Sports & entertainment properties
    APN
    48.0592.038
    APU
    480592038

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $265,000

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $360,000
      RETAIL STORES
      $240,000
      COMMERCIAL (GENERAL)
      $225,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Little Falls
    County
    Morrison
    State
    Minnesota
    Longitude
    -94.3553
    Latitude
    45.9757

    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
    $10,142
    $32,800
    $353,300
    $386,100
    -
    $32,800
    $353,300
    $386,100

    Comparable in this City

    • Value Estimation
      $275,000
      2,480 SF

      901 Lindbergh NW Dr

      RECREATIONAL, ENTERTAINMENT • 2,480 SF
      901 Lindbergh NW Dr, Little Falls, MN 56345-1036
      View Details
    • Value Estimation
      $365,000
      16,212 SF

      14803 Riverwood Dr

      BOWLING ALLEY • 16,212 SF
      14803 Riverwood Dr, Little Falls, MN 56345-6615
      View Details
    • Value Estimation
      $240,000
      6,000 SF

      117 1st SE St

      THEATER (MOVIE) • 6,000 SF
      117 1st SE St, Little Falls, MN 56345
      View Details
    • Value Estimation
      $260,000
      13,728 SF

      15871 Hwy 27

      ARENA, CONVENTION CENTER • 13,728 SF
      15871 Hwy 27, Little Falls, MN 56345-6562
      View Details
    • Value Estimation
      $185,000
      5,850 SF

      113 1st SE St

      THEATER (MOVIE) • 5,850 SF
      113 1st SE St, Little Falls, MN 56345-3001
      View Details
    • Value Estimation by Request

      Little Falls, MN 56345

      INDUSTRIAL (GENERAL)
      Little Falls, MN 56345
      View Details

    Similar Nearby for Sale

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      Residential Lots in Little Falls

      Residential lots available in Little Falls, MN with city utilities.
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      Residential Lots in Little Falls

      Residential lots available in Little Falls, city water and sewer.
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      Residential Lots in Little Falls

      Land for new construction with city utilities in Little Falls.
      21 Grace Ln, Little Falls, MN 56345
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    • $50,400
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      Residential Lots in Little Falls

      Residential lots available in Little Falls, MN with city utilities.
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      44 Acres Mixed-Use Development Land

      44-acre mixed-use parcel suitable for commercial or residential development.
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    Similar Nearby for Lease

    • $23 SF/Yr
      2,400 SF

      New Office Space for Lease

      Modern office space near Broadway Ave and Mississippi River.
      117 Wood St, Little Falls, MN 56345
      View Details
    • Contact for pricing
      40,000 SF

      Industrial Space in Little Falls

      Industrial space for lease near Hwy 371 and Hwy 10.
      609 13Th Ave NE, Little Falls, MN 56345
      View Details
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    505 Broadway
    Little Falls, MN 56345-3244
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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.

    More about this property
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