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Property profile & analytics
OFF-MARKET
Estimated value
$3,430,000
Outlet malls
1208 Hwy 77, Dell Rapids, SD 57022-1540
Individually Owned
3-yr Hold
Free & Clear
Property ID
US79-0228077
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
2016
Construction
STEEL FRAME
Total area
25,682 SF
Lot
3.5 ac (152,591 SF)
APN
89044
UPID
US79-0228077
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
-
Dell Rapids Lumber Co. Big Box & Wholesale Store Building Supply
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.00M
Comparable Approach
Comparable
$3.61M
Blend (final)
Blend
$3.43M
Owner & transaction history
Wesley Jacob Heinricy · 3 yrs held
Wesley Jacob Heinricy
since 2022
Last sale
$1,500
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$2.9M
+29.9%
Auto repair, garage
$2.4M
+8.5%
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 Dell Rapids submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Dell Rapids 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%
$4,330,000
6.5%
$3,995,000
7%
$3,710,000
Alternative Use
Use
Estimation
RETAIL STORES
$2,255,000
Current use
OFFICE BUILDING
$2,925,000
Change: +30% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,445,000
Change: +8% · Conversion: Difficult
Blend value · Realmo final
$3.43M
Range $3.09M – $3.77M · ±10% · vs last sale $2k (Mar 26 2025)
Last sale anchor
$2k
Mar 26 2025
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
$134 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$17,763
Tax year 2022
Assessed value
$975,800
Assessed 2022
Previous assessed
$968,700
+0.7% YoY
Effective rate
1.82%
On assessed value
Assessed land
$419,300
Assessed improvement
$556,500
Applied tax rate
54,493.0000
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
2016
Construction
STEEL FRAME
Heating
YES
Cooling
CENTRAL
Stories
1
Total area
25,682 SF
Lot
3.5 ac (152,591 SF)
APN
89044
UPID
US79-0228077
Jurisdiction
MINNEHAHA
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
RETAIL STORES Current
Est. value
$2.3M
OFFICE BUILDING
Est. value
$2.9M
AUTO REPAIR, GARAGE
Est. value
$2.4M
RETAIL STORES Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
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
2016
Construction
STEEL FRAME
Heating
YES
Cooling
Yes
Stories
1
Lot
3.5 ac
Current owner
From public records · entity-resolved
Wesley Jacob Heinricy
Individual
Free & Clear · 3 yrs held
Mailing address
712 N VERMONT AVE, DELL RAPIDS, SD 57022-1329
Ownership since
2022
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
Nov 9, 2022
$1,500
Wesley Jacob Heinricy
Justin Weiland
Warranty Deed
—
Feb 16, 2022
—
Dell Rapids Lumber Company
—
Deed
related
$1,100,000 · The First National Bank In Sioux Falls
Dec 10, 2021
$145,000
Bradley L Olson
Brett Beauchan
Warranty Deed
—
Aug 21, 2020
—
Denise L Logan
Denise L Logan
Intrafamily Transfer
related
—
Dec 27, 2018
$2,722,000
Shopkodell LLC
Thomas P Gallagher
Special Warranty 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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