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Property profile & analytics
OFF-MARKET
Estimated value
$9,315,000
Hotels
1000 Gramsie Rd, Shoreview, MN 55126-2949
Entity Owned
11-yr Hold
Absentee Owner
Free & Clear
Property ID
US46-0628634
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1985
Total area
74,936 SF
Lot
6.85 ac (298,473 SF)
Zoning code
F
APN
26-30-23-23-0004
UPID
US46-0628634
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
-
Isalis (Bike/Boat/Book/etc) Store
-
Party City Party Supply Store (Bike/Boat/Book/etc) Store
-
Skunk Funk Big Box & Wholesale Store
-
Carl's Trading Co Hat Shop
-
Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$9.84M
CAP Approach
CAP
$9.93M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$9.32M
Owner & transaction history
Forstrom & Torgerson Hs LLC · 11 yrs held
Forstrom & Torgerson Hs LLC
since 2015
Last sale
$9.3M
4 recorded transactions
Zoning & alternative use
F · Shoreview, MN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$6.4M
+634.0%
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 Shoreview submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Shoreview 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
$8,320,000
ML approach
$9,835,000
CAP Approach
CAP Return
Estimation
6%
$10,760,000
6.5%
$9,930,000
7%
$9,220,000
Alternative Use
Use
Estimation
RESTAURANT
$6,425,000
Change: +634% · Conversion: Difficult
Blend value · Realmo final
$9.32M
Range $8.38M – $10.25M · ±10% · vs last sale $9.25M (Jan 16 2020)
Last sale anchor
$9.25M
Jan 16 2020
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
$124 / 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
$200,678
Tax year 2023
Assessed value
$6,821,300
Assessed 2023
Previous assessed
$6,316,600
+8.0% YoY
Effective rate
2.94%
On assessed value
Assessed land
$2,985,000
Assessed improvement
$3,836,300
Land market value
$2,985,000
Improvement market value
$3,836,300
Total market value
$6,821,300
Applied tax rate
621.0000
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1985
Heating
STEAM
Buildings
3
Total area
74,936 SF
Lot
6.85 ac (298,473 SF)
Zoning code
F
APN
26-30-23-23-0004
UPID
US46-0628634
Jurisdiction
RAMSEY
Zoning & alternative use
F · Shoreview, MN
Zoning F · permitted uses
F · Shoreview, MN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Shoreview. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$6.4M
RESTAURANT
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
1985
Heating
STEAM
Buildings
3
Lot
6.85 ac
Current owner
From public records · entity-resolved
Forstrom & Torgerson Hs LLC
Entity
Free & Clear · 11 yrs held
Mailing address
221 S PHILLIPS AVE #200, SIOUX FALLS, SD 57104-6349
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 16, 2020
—
Bdh2-shoreview LLC
—
Deed
related
$8,300,000 · Liberty Nat'l Bk
Jan 7, 2015
—
Forstrom & Torgerson Hs LLC
Forstrom & Torgerson Sll LLC
Quit Claim Deed
related
—
—
—
Forstrom & Torgerson LLP
—
Deed Of Trust
related
$5,052,628 · Us Bk
—
—
Bdh2-shoreview LLC
—
Deed Of Trust
related
$8,300,000 · Liberty Nat'l Bk
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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