Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$1,000,000
Retail properties & Spaces
110 Minnesota St New Ulm, MN 56073-1701
Entity Owned
3-yr Hold
Free & Clear
Property ID
US46-2305840
Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE (MULTI-STORY)
Year built
1880
Total area
8,200 SF
Zoning code
C3
APN
001.001.064.11.110
UPID
US46-2305840
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.00M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.00M
Owner & transaction history
Commerce Center LLC · 3 yrs held
Commerce Center LLC
since 2023
Last sale
$1.0M
6 recorded transactions
Zoning & alternative use
C3 · New Ulm, 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 New Ulm submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs New Ulm 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
$925,000
ML approach
$1,000,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$870,000
Change: 0% · Conversion: Difficult
OFFICE BUILDING
$820,000
Change: 0% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$690,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$1.00M
Range $900k – $1.10M · ±10% · vs last sale $1.00M (Jun 12 2023)
Last sale anchor
$1.00M
Jun 12 2023
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
$122 / 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
$10,396
Tax year 2023
Assessed value
$355,500
Assessed 2023
Previous assessed
$333,900
+6.5% YoY
Effective rate
2.92%
On assessed value
Assessed land
$66,300
Assessed improvement
$289,200
Land market value
$66,300
Improvement market value
$289,200
Total market value
$355,500
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
Retail properties & Spaces
Use group
DEPARTMENT STORE (MULTI-STORY)
Status
Off-Market
Year built
1880
Heating
STEAM
Cooling
AC.PACKAGE
Buildings
2
Total area
8,200 SF
Zoning code
C3
APN
001.001.064.11.110
UPID
US46-2305840
Jurisdiction
BROWN
Zoning & alternative use
C3 · New Ulm, MN
Zoning C3 · permitted uses
C3 · New Ulm, MN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
New Ulm. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$870,000
OFFICE BUILDING
Est. value
$820,000
INDUSTRIAL (GENERAL)
Est. value
$690,000
RESTAURANT
OFFICE BUILDING
INDUSTRIAL (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
1880
Heating
STEAM
Cooling
Yes
Buildings
2
Current owner
From public records · entity-resolved
Commerce Center LLC
Entity
Free & Clear · 3 yrs held
Mailing address
PO BOX 86, COURTLAND, MN 56021-0086
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 12, 2023
—
Commerce Center LLC
J & J Rental Properties Of Courtlan
Quit Claim Deed
related
—
Sep 6, 2022
$1,000,000
Silver Bullet Holdings LLC
J & J Rental Properties Courtland L
Warranty Deed
$800,000 · Bankvista
Aug 30, 2022
—
J & J Rental Properties Of Courtlan
Alison Lyn Brooks
Quit Claim Deed
related
—
Apr 25, 2022
$130,000
J & J Rental Properties Of Courtlan
High Rd Property Management LLC
Warranty Deed
—
Oct 8, 2014
—
Doris Crone
Garry Garry
Intrafamily Transfer
related
—
Feb 25, 2011
—
Ann C Vogel
Jane E Lucas
Trustees Deed
related
—
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 110 Minnesota St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
