Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    808 1st E St Park Rapids, MN 56470-1709

    Property Lookup

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

    808 1st E St Park Rapids, MN 56470-1709

    View on Map
    • Individual retail properties
    • 1,883 SF
    • 0.87 lot acres
    Off-Market
    Last Sale May 8, 2024
    Property ID
    US46-2113152
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Individual retail properties

    Property Details for 808 1st E St

    Year built
    1982
    Lot size
    0.87 lot acres
    Property size
    1,883 SF
    Property type
    Individual retail properties
    APN
    32.45.40300
    APU
    324540300

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Park Rapids
    County
    Hubbard
    State
    Minnesota
    Longitude
    -95.046
    Latitude
    46.9216

    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
    $5,169
    $106,100
    $125,700
    $231,800
    -
    $106,100
    $125,700
    $231,800

    Comparable in this City

    • Value Estimation by Request
      8,708 SF

      1011 1st E St

      BARBER, HAIR SALON • 8,708 SF
      1011 1st E St, Park Rapids, MN 56470-1764
      View Details
    • Value Estimation by Request
      8,400 SF

      306 Main S Ave

      BARBER, HAIR SALON • 8,400 SF
      306 Main S Ave, Park Rapids, MN 56470-1551
      View Details
    • Value Estimation by Request
      3,450 SF

      115 Main S Ave

      BARBER, HAIR SALON • 3,450 SF
      115 Main S Ave, Park Rapids, MN 56470-1515
      View Details
    • Value Estimation by Request
      3,440 SF

      200 Heartland Trl

      GYM, HEALTH SPA • 3,440 SF
      200 Heartland Trl, Park Rapids, MN 56470
      View Details
    • Value Estimation by Request
      1,500 SF

      207 Park S Ave

      BARBER, HAIR SALON • 1,500 SF
      207 Park S Ave, Park Rapids, MN 56470-1531
      View Details
    • Value Estimation by Request
      1,191 SF

      317 Main S Ave

      BARBER, HAIR SALON • 1,191 SF
      317 Main S Ave, Park Rapids, MN 56470-1550
      View Details

    Similar Nearby for Sale

    • $469,000
      3,000 SF

      Park Rapids Commercial Opportunity

      Prime location with high visibility on Highway 34.
      109 1St St E, Park Rapids, MN 56470
      View Details
    • Contact for pricing
      3,036 SF

      Park Rapids Retail Opportunity

      Retail property with ample space and highway visibility for sale.
      109 1St St E, Park Rapids, MN 56470
      View Details
    • Contact for pricing
      6,382 SF

      Live/Work Property with River View

      Mixed-use property with commercial space and apartment, river views.
      500 1St St E, Park Rapids, MN 56470
      View Details
    • $95,000
      6.84 Acres

      Residential Land with Shoreline Access

      6.84 acre residential lot with 209' shoreline.
      13895 Gazelle Trl, Park Rapids, MN 56470
      View Details
    • Contact for pricing

      Walmart Outlot Land For Sale

      1.17 acre commercial land available as Walmart outlot.
      1303 Charles St, Park Rapids, MN 56470
      View Details
    • $109,900
      13.26 Acres

      Residential Land in Park Rapids

      13.26 acre residential land parcel in a convenient location.
      E County 18, Park Rapids, MN 56470
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    808 1st E St
    Park Rapids, MN 56470-1709
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!