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Property profile & analytics
OFF-MARKET
Estimated value
$3,805,000
Office Spaces
1210 1st W St, Hastings, MN 55033-1147
Entity Owned
Free & Clear
Property ID
US46-0509139
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1988
Construction
CONCRETE
Total area
36,427 SF
Lot
6.75 ac (294,030 SF)
Zoning code
R
APN
19-63200-01-010
UPID
US46-0509139
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
-
Dr. Diana M. Bussey, MD Physician
-
Dr. Sanaya D. Bharucha, MD Pediatrician Medical Clinic
-
Dr. Jennifer A. Tessmer-Tuck, MD Physician
-
Dr. John D. Adolphson, MD Physician
-
Dr. William M. Spinelli, MD Pediatrician Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.20M
Blend (final)
Blend
$3.81M
Owner & transaction history
REGINA MEDICAL CENTER
REGINA MEDICAL CENTER
Zoning & alternative use
R · Hastings, MN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$6.2M
+40.8%
Warehouse, storage
$5.6M
+25.7%
Retail stores
$5.2M
+17.6%
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 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
$4,415,000
Current use
AUTO REPAIR, GARAGE
$6,220,000
Change: +41% · Conversion: Difficult
WAREHOUSE, STORAGE
$5,550,000
Change: +26% · Conversion: Difficult
RETAIL STORES
$5,190,000
Change: +18% · Conversion: Moderate
Blend value · Realmo final
$3.81M
Range $3.42M – $4.19M · ±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
$104 / 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
$112,532
Tax year 2023
Assessed value
$3,756,400
Assessed 2022
Previous assessed
$3,756,400
+0.0% YoY
Effective rate
3.00%
On assessed value
Assessed land
$926,300
Assessed improvement
$2,830,100
Land market value
$926,300
Improvement market value
$2,830,100
Total market value
$3,756,400
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
1988
Construction
CONCRETE
Heating
NONE
Bathrooms
20
Total area
36,427 SF
Lot
6.75 ac (294,030 SF)
Zoning code
R
APN
19-63200-01-010
UPID
US46-0509139
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
$4.4M
AUTO REPAIR, GARAGE
Est. value
$6.2M
WAREHOUSE, STORAGE
Est. value
$5.6M
RETAIL STORES
Est. value
$5.2M
OFFICE BUILDING Current
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
1988
Construction
CONCRETE
Heating
NONE
Bathrooms
20
Lot
6.75 ac
Current owner
From public records · entity-resolved
REGINA MEDICAL CENTER
Individual
Free & Clear · 0 yrs held
Mailing address
PO BOX 43, MINNEAPOLIS, MN 55440-0043
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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