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Property profile & analytics
OFF-MARKET
Estimated value
$735,000
Drive through restaurants
11025 61st NE St, Albertville, MN 55301-3312
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US46-1221878
Property profile
Verified
Property type
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Year built
2001
Construction
WOOD
Total area
4,463 SF
Lot
1.5 ac (65,384 SF)
APN
101-078-001030
UPID
US46-1221878
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$790k
Blend (final)
Blend
$735k
Owner & transaction history
Phoenix Rentals IV LLC · 3 yrs held
Phoenix Rentals IV LLC
since 2023
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.0M
+71.1%
Office building
$590,000
+1.3%
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 Albertville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Albertville 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$585,000
Current use
COMMERCIAL (GENERAL)
$1,000,000
Change: +71% · Conversion: Easy
OFFICE BUILDING
$590,000
Change: +1% · Conversion: Moderate
AUTO REPAIR, GARAGE
$525,000
Change: -10% · Conversion: Difficult
RETAIL STORES
$520,000
Change: -11% · Conversion: Easy
Blend value · Realmo final
$735k
Range $662k – $809k · ±10%
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
$165 / 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
$34,110
Tax year 2023
Assessed value
$1,472,600
Assessed 2023
Previous assessed
$1,472,600
+0.0% YoY
Effective rate
2.32%
On assessed value
Assessed land
$587,600
Assessed improvement
$885,000
Land market value
$587,600
Improvement market value
$885,000
Total market value
$1,472,600
Applied tax rate
102.0000
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
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Status
Off-Market
Year built
2001
Construction
WOOD
Heating
NONE
Total area
4,463 SF
Lot
1.5 ac (65,384 SF)
APN
101-078-001030
UPID
US46-1221878
Jurisdiction
WRIGHT
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
RESTAURANT Current
Est. value
$585,000
COMMERCIAL (GENERAL)
Est. value
$1.0M
OFFICE BUILDING
Est. value
$590,000
AUTO REPAIR, GARAGE
Est. value
$525,000
RETAIL STORES
Est. value
$520,000
RESTAURANT Current
COMMERCIAL (GENERAL)
OFFICE BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
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
2001
Construction
WOOD
Heating
NONE
Lot
1.5 ac
Current owner
From public records · entity-resolved
Phoenix Rentals IV LLC
Entity
Mailing address
11025 61ST ST NE ALBERTVILLE
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
Mar 10, 2025
—
Phoenix Rentals IV LLC
—
Deed
related
$434,000 · Merchants Bank NA
Jan 24, 2023
—
Phoenix Rentals IV LLC
Norvanz INC
Assignment Of Lease (leasehold Sale)
$1,601,000 · Minnesota Business Finance Corp
Dec 6, 2022
$3,850,000
Phoenix Rentals IV LLC
Mkt2 Property LLC
Warranty Deed
$1,950,000 · Merchants Bank NA
Nov 20, 2019
—
Mkt2 Property LLC
—
Deed
related
—
Sep 21, 2017
$3,339,015
Mkt2 Property LLC
Me Albertville LLC
Warranty Deed
—
Jun 11, 2008
$2,000,000
Classic Properties & Dev LLC
Borich LLC
Grant Deed
$1,900,000 · M & I Marshall & Isley Bank
—
—
Me Albertville LLC|classic Properties & Dev LLC
—
Deed Of Trust
related
$1,548,212 · Bank Mutual
—
—
Mkt2 Property LLC
—
Loan Modification
related
—
—
—
Richard N Vanhoutan
—
Deed Of Trust
related
$200,000 · Robert D Zweigle
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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