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

    5600 Queens NE Ave Otsego, MN 55330-6402

    • Warehouses
    • 16,625 SF
    • 3.18 lot acres
    OFF-MARKET
    Value Estimations
    $1,865,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US46-1206920
    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

    • North Ballet Academy / Training Center
    • FocalPoint Flooring Cabinets & Design / General Contractor / Renovation Specialist
    • Prairie Technologies Inc-Mnnst / Business Management Consultant
    • custom window treatments in elk river, mn / General Contractor
    • Focalpoint Flooring Cabinet & Design / Carpet & Flooring Store / Hardware & Home Improvement

    Property Details for 5600 Queens NE Ave

    Year built
    1999
    Construction
    STEEL FRAME
    Lot size
    3.18 lot acres
    Property size
    16,625 SF
    Property type
    Warehouses
    APN
    118-160-001010
    APU
    118160001010

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,823,000
      Market price range: $611k - $2.10M
      AI Estimate
      $1,738,000
      Market price range: $310k - $2.29M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $1,350,000
      Current use
      OFFICE BUILDING
      $2,200,000
      Change: +63% Conversion: Difficult
      RESTAURANT
      $2,175,000
      Change: +61% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $1,945,000
      Change: +44% Conversion: Easy
      RETAIL STORES
      $1,945,000
      Change: +44% Conversion: Moderate
      INDUSTRIAL (GENERAL)
      $1,430,000
      Change: +6% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Otsego
    County
    Wright
    State
    Minnesota
    Longitude
    -93.5518
    Latitude
    45.2333
    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
    $44,376
    $487,800
    $1,407,700
    $1,895,500
    -
    $487,800
    $1,407,700
    $1,895,500

    Comparable in this City

    • Value Estimation by Request
      10,000 SF

      16800 Us-10

      Lifestyle centers • 10,000 SF
      16800 Us-10, Elk River, MN 55330
      View Details
    • Value Estimation
      $1,685,000
      24,080 SF

      5861 Queens NE Ave

      WAREHOUSE, STORAGE • 24,080 SF
      5861 Queens NE Ave, Otsego, MN 55330-6472
      View Details
    • Value Estimation by Request
      6,900 SF

      17505 Us-10

      Distribution properties • 6,900 SF
      17505 Us-10, Elk River, MN 55330
      View Details
    • Value Estimation by Request
      2,400 SF

      5781 Queens NE Ave

      WAREHOUSE, STORAGE • 2,400 SF
      5781 Queens NE Ave, Otsego, MN 55330-6457
      View Details
    • Value Estimation
      $4,465,000
      55,199 SF

      15901 85th NE St

      MINI-WAREHOUSE, STORAGE • 55,199 SF
      15901 85th NE St, Otsego, MN 55330
      View Details
    • Value Estimation
      $895,000
      6,250 SF

      5650 Queens NE Ave

      WAREHOUSE, STORAGE • 6,250 SF
      5650 Queens NE Ave, Otsego, MN 55330
      View Details

    Similar Nearby for Sale

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      11,880 SF

      New Construction Industrial Building Available

      New industrial building in I-94 West Industrial Park for sale.
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      63,934 SF

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      63,934 SF industrial facility in Elk River, Minnesota.
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    • $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
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    • $2,650,000
      11,536 SF

      55+ Community Investment Opportunity

      Eight-unit, 55+ community built in 2020, great location.
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    • $150,000
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      Mississippi Riverfront Land Parcel

      Rare 0.97 acre riverfront lot with mature trees.
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      Elk River Commercial Land

      1.64 acre commercial land with C3 zoning.
      19101 Jackson Ave NW, Elk River, MN 55330
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    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
      34,776 SF

      Modern Industrial Space For Rent

      Functional industrial space with office build-out and heavy power.
      17834 Industrial Cir NW, Elk River, MN 55330
      View Details
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      8,892 SF

      Elk River Warehouse Space

      Warehouse space in Elk River with ample parking.
      15725 Jarvis St NW, 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
      15,000 SF

      Retail Pad Sites For Lease

      Junior box or medical building pad sites available for lease.
      Holt St 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
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    5600 Queens NE Ave
    Otsego, MN 55330-6402
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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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