522 Minnesota AveBemidji, MN 56601

Property Details for 522 Minnesota Ave

Year built

1959

Construction

FRAME

Lot size

0.64 AC

Property size (Sq ft)

18,760 SF

Property type

Office buildings

APN

80.00964.00

APU

800096400

Description

Attention investors and developers! This exceptional 50,000 square foot, four-story building, located at 522 Minnesota Avenue NW in Bemidji, Minnesota, presents a unique investment opportunity. The historic "Federal Building" sits on a 0.64-acre lot and boasts a striking brick and granite exterior. Its convenient location in a thriving college town with a population exceeding 100,000 offers easy access to amenities, including an airport with daily flights to Minneapolis/St. Paul and high-speed internet. The building features a lower level housing offices and mechanicals, an elevator for accessibility, and approximately 28 parking spaces. High ceilings and numerous windows create a bright and spacious interior, ideal for a variety of uses. This adaptable structure is perfect for a startup, co-working space, or a modern business hub. Priced at $1,200,000, this property offers the chance to restore a historic landmark or repurpose it for contemporary needs. Its prime location and substantial size make it a cornerstone investment in Bemidji's future. Schedule a viewing to appreciate the potential.

• CAP approach

  CAP return

  Valuation

  6%

  $3,449,123

  6.5%

  $3,183,806

  7%

  $2,956,391

• Comparable approach

  Method

  Valuation

  Relative Method

  $957,510

  Geo Method

  $957,510

• Alternative Use

  Use

  Valuation

  Residential

  $3,947,920

  Hospitality

  $3,616,273

  Educational

  $3,008,697

  Medical

  $3,112,170

  Retail

  $4,680,195

Location Insight

City

Bemidji

County

Beltrami

State

Minnesota

Latitude

47.4733

Longitude

-94.8823

CBSA code

13420

CBSA name

BEMIDJI, MN MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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