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Property profile & analytics
OFF-MARKET
Turn key restaurants
101 2nd E St, Hastings, MN 55033-1203
Entity Owned
3-yr Hold
Property ID
US46-0336743
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1928
Construction
CONCRETE
Total area
6,160 SF
Lot
0.07 ac (3,049 SF)
Zoning code
R
APN
19-32150-04-050
UPID
US46-0336743
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
-
Historic Hastings Car Show Music Venue
-
Lock & Dam Eatery Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Melecio Properties LLC · 3 yrs held
Melecio Properties LLC
since 2023
7 recorded transactions
Zoning & alternative use
R · Hastings, MN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Hastings submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hastings 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$6,628
Tax year 2023
Assessed value
$345,600
Assessed 2022
Previous assessed
$345,600
+0.0% YoY
Effective rate
1.92%
On assessed value
Assessed land
$48,300
Assessed improvement
$297,300
Land market value
$48,300
Improvement market value
$297,300
Total market value
$345,600
Applied tax rate
19.0000
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1928
Construction
CONCRETE
Heating
NONE
Bathrooms
7
Total area
6,160 SF
Lot
0.07 ac (3,049 SF)
Zoning code
R
APN
19-32150-04-050
UPID
US46-0336743
Jurisdiction
DAKOTA
Zoning & alternative use
R · Hastings, MN
Zoning R · permitted uses
R · Hastings, MN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Hastings. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1928
Construction
CONCRETE
Heating
NONE
Bathrooms
7
Lot
0.07 ac
Current owner
From public records · entity-resolved
Melecio Properties LLC
Entity
Mailing address
101 2ND ST, HASTINGS, MN 55033-1203
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 25, 2023
$375,000
Melecio Properties LLC
Sawitzke Properties LLC
Land Contract
$350,000 · Not Available
Aug 1, 2022
—
Sawitzke Properties LLC
—
Deed
related
$500,000 · Vermillion State Bank
Feb 5, 2015
—
Sawitzke Properties LLC
Sawitzke Ents LLC
Quit Claim Deed
related
—
Nov 20, 2014
—
Sawitzke Ents LLC
—
Trustees Deed
related
$48,300 · Hastings Economic Dev & Redev
Jan 2, 2014
$117,000
Sawitzke Ents LLC
Apex Mtg
Grant Deed
—
Jul 13, 2010
—
William J Kopp
Amara INC
Quit Claim Deed
related
—
Jul 13, 2010
$269,900
Apex Mtg
Deputy Sheriff Of Dakota County
Trustees Deed
related
—
Jan 18, 2007
$745,000
Amara INC
Delizioso INC
Warranty Deed
—
—
—
Amara INC
—
Deed Of Trust
related
$300,000 · Apex Mortgage Corp
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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