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Property profile & analytics
FOR SALE
Flex space
506 James St, Brainerd, MN 56401
Entity Owned
Free & Clear
Property ID
US46-0997376
For Sale
1 / 2
$2,500,000
506 James St, Brainerd, MN 56401
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Property summary
AI-generated overview
This exceptional 26,338-square-foot office and industrial property presents a remarkable opportunity in Brainerd, Minnesota. Located in Crow Wing County, this single-tenant building, constructed in 1989, is entirely vacant and ready for immediate occupancy. The property offers a versatile layout, comprising 12,319 square feet of office space and 14,019 square feet of light industrial space, perfectly suited for a variety of businesses. The building is offered for both lease and sale. Lease terms are available at $8 per square foot, NNN. The sale price is $2,950,000. In addition to the main building, a substantial 21,000-square-foot parking parcel is included, providing ample space for employees and clients. This property represents a unique chance to acquire a substantial, well-located building in a thriving market. The entire building is available for lease or purchase, making it an ideal solution for a business seeking a significant footprint in Brainerd. Don't miss this chance to secure this prime commercial real estate opportunity.
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1989
Total area
26,338 SF
Lot
1.09 ac (47,601 SF)
APN
41040790
UPID
US46-0997376
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
Current use
Occupant on record · Public records
-
Brainerd Dispatch Publishing House Newspaper & Magazine
-
Forum Communications Company Publishing House Newspaper & Magazine
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$605k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.17M
Blend (final)
Blend
$890k
Owner & transaction history
FORUM COMMUNICATIONS COMPANY
FORUM COMMUNICATIONS COMPANY
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$1.1M
+5.6%
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 Brainerd submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Brainerd 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
$605,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,005,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,060,000
Change: +6% · Conversion: Difficult
WAREHOUSE, STORAGE
$985,000
Change: -2% · Conversion: Easy
Blend value · Realmo final
$890k
Range $801k – $979k · ±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
$34 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$28,356
Tax year 2023
Assessed value
$1,525,100
Assessed 2023
Previous assessed
$1,058,300
+44.1% YoY
Effective rate
1.86%
On assessed value
Assessed land
$107,800
Assessed improvement
$1,417,300
Land market value
$107,800
Improvement market value
$1,417,300
Total market value
$1,525,100
Applied tax rate
9.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
For Sale
Year built
1989
Heating
FORCED AIR
Buildings
2
Total area
26,338 SF
Lot
1.09 ac (47,601 SF)
APN
41040790
UPID
US46-0997376
Jurisdiction
CROW WING
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
INDUSTRIAL (GENERAL) Current
Est. value
$1.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.1M
WAREHOUSE, STORAGE
Est. value
$985,000
INDUSTRIAL (GENERAL) Current
NEIGHBORHOOD: SHOPPING CENTER
WAREHOUSE, STORAGE
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
1989
Heating
FORCED AIR
Buildings
2
Lot
1.09 ac
Current owner
From public records · entity-resolved
FORUM COMMUNICATIONS COMPANY
Entity
Free & Clear · 0 yrs held
Mailing address
PO BOX 2020, FARGO, ND 58107-2020
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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