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Property profile & analytics
OFF-MARKET
Estimated value
$835,000
Office Spaces
117 3rd W St, Hastings, MN 55033-1116
Entity Owned
11-yr Hold
Free & Clear
Property ID
US46-0724147
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
2014
Construction
WOOD FRAME
Total area
6,152 SF
Lot
0.32 ac (13,939 SF)
Zoning code
R
APN
19-32150-21-040
UPID
US46-0724147
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
-
Life thru Fitness Gym & Fitness Center
-
Health Solutions Center Gym & Fitness Center
-
Millner Family Chiropractic Alternative Medicine Practice
-
Foundation First Fitness Center Gym & Fitness Center
-
Jing River Acupuncture and Traditional Medicine Hastings Clinic Medical Clinic Alternative Medicine Practice
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.01M
Blend (final)
Blend
$835k
Owner & transaction history
Health Solutions Center LLC · 11 yrs held
Health Solutions Center LLC
since 2014
7 recorded transactions
Zoning & alternative use
R · Hastings, MN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$1.2M
+63.6%
Restaurant
$1.2M
+60.0%
Auto repair, garage
$1.1M
+40.8%
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
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
$745,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,220,000
Change: +64% · Conversion: Difficult
RESTAURANT
$1,195,000
Change: +60% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,050,000
Change: +41% · Conversion: Difficult
WAREHOUSE, STORAGE
$935,000
Change: +26% · Conversion: Difficult
RETAIL STORES
$875,000
Change: +18% · Conversion: Moderate
Blend value · Realmo final
$835k
Range $752k – $919k · ±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
$136 / 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
$25,368
Tax year 2023
Assessed value
$906,300
Assessed 2022
Previous assessed
$869,400
+4.2% YoY
Effective rate
2.80%
On assessed value
Assessed land
$117,600
Assessed improvement
$788,700
Land market value
$117,600
Improvement market value
$788,700
Total market value
$906,300
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
Office Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
2014
Construction
WOOD FRAME
Heating
NONE
Bathrooms
7
Total area
6,152 SF
Lot
0.32 ac (13,939 SF)
Zoning code
R
APN
19-32150-21-040
UPID
US46-0724147
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.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$745,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.2M
RESTAURANT
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.1M
WAREHOUSE, STORAGE
Est. value
$935,000
RETAIL STORES
Est. value
$875,000
OFFICE BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
RESTAURANT
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
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
2014
Construction
WOOD FRAME
Heating
NONE
Bathrooms
7
Lot
0.32 ac
Current owner
From public records · entity-resolved
Health Solutions Center LLC
Entity
Free & Clear · 11 yrs held
Mailing address
117 3RD ST W, HASTINGS, MN 55033-1116
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 21, 2014
—
Health Solutions Center LLC
Millner,scott & Melissa
Quit Claim Deed
related
—
Mar 29, 2011
$100,000
Scott Millner
Sullins,rey E & Deann M
Grant Deed
—
Nov 6, 2007
$300,000
Charles E Johnson
Coutn,edward C & Marie W
Warranty Deed
—
Nov 6, 2007
$100,000
Scott Millner
Sullins,roy & Deann
Grant Deed
—
Nov 6, 2007
$320,000
Roy E Sullins
Johnson,charles E & Laural R
Grant Deed
—
Nov 6, 2007
$147,000
Edward C Coutu
Peterson Wesley J Trust
Grant Deed
—
Oct 1, 2004
$320,000
Roy E Sullins
Johnson,charles E & Laural R
Grant 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.
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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