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

    609 13Th Ave NE Little Falls, MN 56345

    • Office buildings
    • 8,350 SF
    • 15.30 lot acres
    For Lease
    View listing
    Value Estimations
    $525,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US46-1915034
    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

    • Annex / School
    • CareerForce in Little Falls / Employment Center / State Employment Department
    • Sprout MN - Growers & Makers Marketplace, Food Hub, Licensed Kitchens / Farmers' Market
    • Riverside Bible Church / Church
    • SHARED USE COMMERCIAL KITCHEN / Shared-Use Commercial Kitchen

    Property Details for 609 13Th Ave NE

    Year built
    1971
    Construction
    WOOD
    Lot size
    15.30 lot acres
    Property size
    8,350 SF
    Property type
    Office buildings
    APN
    48.7041.000
    APU
    487041000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $525,000

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $675,000
      Current use
      RESTAURANT
      $725,000
      Change: +8% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $625,000
      Change: -7% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $605,000
      Change: -10% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Little Falls
    County
    Morrison
    State
    Minnesota
    Longitude
    -94.349
    Latitude
    45.9919

    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
    $41,782
    $215,300
    $1,226,900
    $1,442,200
    -
    $215,300
    $1,226,900
    $1,442,200

    Comparable in this City

    • Value Estimation
      $1,015,000
      51,953 SF

      15820 18th NE St

      OFFICE BUILDING • 51,953 SF
      15820 18th NE St, Little Falls, MN 56345-4651
      View Details
    • Value Estimation
      $345,000
      3,500 SF

      114 Kidder SE St

      OFFICE BUILDING • 3,500 SF
      114 Kidder SE St, Little Falls, MN 56345-3029
      View Details
    • Value Estimation
      $350,000
      11,974 SF

      15480 17th NE Ave

      OFFICE BUILDING • 11,974 SF
      15480 17th NE Ave, Little Falls, MN 56345-2754
      View Details
    • Value Estimation
      $330,000
      3,360 SF

      Little Falls, MN 56345

      OFFICE BUILDING • 3,360 SF
      Little Falls, MN 56345
      View Details
    • Value Estimation
      $310,000
      5,440 SF

      107 13th NW St

      OFFICE BUILDING • 5,440 SF
      107 13th NW St, Little Falls, MN 56345-1359
      View Details
    • Value Estimation
      $310,000
      8,520 SF

      405 15th SW St

      OFFICE BUILDING • 8,520 SF
      405 15th SW St, Little Falls, MN 56345
      View Details

    Similar Nearby for Sale

    • $165,000
      2.51 Acres

      Land with Untouched Acreage Border

      2.51-acre lot near Little Falls with mature trees.
      Hillton Rd, Little Falls, MN 56345
      View Details
    • $165,000
      2.51 Acres

      Land Parcel Near Little Falls

      2.51-acre lot south of Little Falls with mature trees.
      Tbd Hillton Rd, Little Falls, MN 56345
      View Details
    • New
      $65,000
      0.46 Acres

      Residential Lots in Little Falls

      Residential lots available in Little Falls, MN with city utilities.
      23 Edmund St, Little Falls, MN 56345
      View Details
    • New
      $65,000
      0.37 Acres

      Residential Lots in Little Falls

      Residential lots available in Little Falls, city water and sewer.
      3 Weston Cir, Little Falls, MN 56345
      View Details
    • $50,400
      Pending

      Residential Lots in Little Falls

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

      Residential Lots in Little Falls

      Residential lots available in Little Falls, MN with city utilities.
      2 Weston Cir, Little Falls, MN 56345
      View Details

    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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    609 13Th Ave NE
    Little Falls, MN 56345
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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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