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Property profile & analytics
OFF-MARKET
Estimated value
$930,000
Industrial properties
110 2nd NE St Milaca, MN 56353
Individually Owned
Free & Clear
Property ID
US46-1238808
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
2005
Total area
5,840 SF
APN
21-162-0180
UPID
US46-1238808
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
-
Area Storage of Milaca Storage Facility
-
Rise Milaca Charitable Organization Social Service Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$915k
CAP Approach
CAP
$975k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$930k
Owner & transaction history
James J Gerads
James J Gerads
since 2026
Last sale
$930,000
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$605,000
+115.0%
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 Milaca submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Milaca 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
$890,000
ML approach
$915,000
CAP Approach
CAP Return
Estimation
6%
$1,055,000
6.5%
$975,000
7%
$905,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$605,000
Change: +115% · Conversion: Difficult
Blend value · Realmo final
$930k
Range $837k – $1.02M · ±10% · vs last sale $930k (May 3 2022)
Last sale anchor
$930k
May 3 2022
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
$159 / 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
$3,606
Tax year 2023
Assessed value
$192,100
Assessed 2023
Previous assessed
$177,700
+8.1% YoY
Effective rate
1.88%
On assessed value
Assessed land
$51,700
Assessed improvement
$140,400
Land market value
$51,700
Improvement market value
$140,400
Total market value
$192,100
Applied tax rate
21.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
2005
Heating
NONE
Total area
5,840 SF
APN
21-162-0180
UPID
US46-1238808
Jurisdiction
MILLE LACS
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$605,000
COMMERCIAL (GENERAL)
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
2005
Heating
NONE
Current owner
From public records · entity-resolved
James J Gerads
Individual
Free & Clear · 0 yrs held
Mailing address
1350 LAGOON AVE STE #900, MINNEAPOLIS, MN 55408-2692
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 18, 2026
$119,900
James J Gerads
Milaca Mini Storage LLC
Warranty Deed
—
Dec 18, 2024
$110,000
Wendi Wicktor
Mid Minnesota Investments
Warranty Deed
—
Dec 10, 2024
—
Mid Minnestoa Investments LLC
Town And County Finance
Warranty Deed
—
Sep 19, 2024
$150,000
Mid Minnesota Investments LLC
Town & Country Finance INC
Deed
$150,000 · Mid Minnesota Investments LLC
Oct 3, 2023
$125,000
Epe LLC
Jcj Company
Deed
$125,000 · Not Available
May 3, 2022
$930,000
Milaca Mini Storage LLC
Maitlands Milaca Storage LLC
Warranty Deed
$1,120,000 · 21st Century Financial INC
Jan 13, 2020
—
Maitlands Milaca Mini Storage LLC
Maitlands Milaca Mini Storage LLC
Quit Claim Deed
related
—
Jan 13, 2020
$930,000
Milaca Mini Storage LLC
Maitlands Milaca Mini Storage LLC
Deed
—
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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