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Property profile & analytics
FOR LEASE
Industrial properties
146 West 60Th St, Minneapolis, MN 55419
Entity Owned
2-yr Hold
Free & Clear
Property ID
US46-0570766
For Lease
1 / 2
$4,120,000
146 West 60Th St, Minneapolis, MN 55419
View Listing →
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1958
Construction
CONCRETE
Total area
17,850 SF
Lot
0.67 ac (29,185 SF)
Zoning code
I2
APN
22-028-24-34-0007
UPID
US46-0570766
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
$4.21M
CAP Approach
CAP
$2.92M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.12M
Owner & transaction history
Ios Pvb 146 W 60th St LLC · 2 yrs held
Ios Pvb 146 W 60th St LLC
since 2023
Last sale
$4.0M
3 recorded transactions
Zoning & alternative use
I2 · Minneapolis, MN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$3.0M
+79.8%
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 Minneapolis submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Minneapolis 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
$4,275,000
ML approach
$4,205,000
CAP Approach
CAP Return
Estimation
6%
$3,160,000
6.5%
$2,915,000
7%
$2,710,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,985,000
Change: +80% · Conversion: Difficult
Blend value · Realmo final
$4.12M
Range $3.71M – $4.53M · ±10% · vs last sale $4.00M (Jul 25 2023)
Last sale anchor
$4.00M
Jul 25 2023
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
$231 / 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
$38,451
Tax year 2023
Assessed value
$1,240,000
Assessed 2023
Previous assessed
$1,031,000
+20.3% YoY
Effective rate
3.10%
On assessed value
Assessed land
$204,600
Assessed improvement
$1,035,400
Land market value
$204,600
Improvement market value
$1,035,400
Total market value
$1,240,000
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
For Lease
Year built
1958
Construction
CONCRETE
Heating
CONVECTION
Stories
1
Total area
17,850 SF
Lot
0.67 ac (29,185 SF)
Zoning code
I2
APN
22-028-24-34-0007
UPID
US46-0570766
Jurisdiction
HENNEPIN
Zoning & alternative use
I2 · Minneapolis, MN
Zoning I2 · permitted uses
I2 · Minneapolis, MN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Minneapolis. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$3.0M
COMMERCIAL (GENERAL)
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
1958
Construction
CONCRETE
Heating
CONVECTION
Stories
1
Lot
0.67 ac
Current owner
From public records · entity-resolved
Ios Pvb 146 W 60th St LLC
Entity
Free & Clear · 2 yrs held
Mailing address
5353 WAYZATA BLVD STE #205, MINNEAPOLIS, MN 55416-1316
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 25, 2023
$4,000,000
Ios Pvb 146 W 60th St LLC
Camegaran LLC
Limited Warranty Deed
—
Mar 19, 2014
$1,832,000
Camegaran LLC
Lejeune Building Co LLP
Trustees Deed
$1,832,000 · Alliance Bk
Oct 23, 2013
—
Lejeune Building Co LLP
Lejeune,laurence F & Jean Y
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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