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Property profile & analytics
OFF-MARKET
Estimated value
$590,000
Flex space
114 19th N St New Ulm, MN 56073-1187
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US46-2214468
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1997
Total area
7,500 SF
Lot
1.64 ac (71,438 SF)
Zoning code
I1
APN
001.001.019.07.070
UPID
US46-2214468
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
$537k
Blend (final)
Blend
$590k
Owner & transaction history
19th North Street LLC · 5 yrs held
19th North Street LLC
since 2020
5 recorded transactions
Zoning & alternative use
I1 · New Ulm, MN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$655,000
+89.6%
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
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
OFFICE BUILDING
$655,000
Change: +90% · Conversion: Difficult
Blend value · Realmo final
$590k
Range $531k – $649k · ±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
$79 / 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
$12,078
Tax year 2023
Assessed value
$483,000
Assessed 2023
Previous assessed
$398,800
+21.1% YoY
Effective rate
2.50%
On assessed value
Assessed land
$175,400
Assessed improvement
$307,600
Land market value
$175,400
Improvement market value
$307,600
Total market value
$483,000
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
1997
Heating
SPACE
Buildings
3
Total area
7,500 SF
Lot
1.64 ac (71,438 SF)
Zoning code
I1
APN
001.001.019.07.070
UPID
US46-2214468
Jurisdiction
BROWN
Zoning & alternative use
I1 · New Ulm, MN
Zoning I1 · permitted uses
I1 · 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
OFFICE BUILDING
Est. value
$655,000
OFFICE BUILDING
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
1997
Heating
SPACE
Buildings
3
Lot
1.64 ac
Current owner
From public records · entity-resolved
19th North Street LLC
Entity
Mailing address
809 20TH ST N, NEW ULM, MN 56073-1016
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 7, 2022
—
19th North Street Lc
—
Deed
related
$59,052 · Alliance Bank
Dec 11, 2020
—
19th North Street LLC
—
Deed
related
$95,000 · Alliance Bank
Dec 1, 2020
—
19th North Street LLC
19th North Street Partnership
Warranty Deed
—
Nov 20, 2020
—
19th North Street Partnership
—
Deed
related
$87,000 · Alliance Bank
Dec 20, 2012
—
19th North Street Partnership
Tod A Lohman
Quit Claim 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.
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