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Property profile & analytics
FOR LEASE
Industrial properties
15720 Lincoln St NE, Ham Lake, MN 55304
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US46-0523795
For Lease
1 / 2
$2,715,000
15720 Lincoln St NE, Ham Lake, MN 55304
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Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1984
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
37,048 SF
Lot
2.58 ac (112,385 SF)
APN
17-32-23-34-0002
UPID
US46-0523795
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
$2.67M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.03M
Blend (final)
Blend
$2.72M
Owner & transaction history
Ultimate Investments LLC · 3 yrs held
Ultimate Investments LLC
since 2022
Last sale
$2.7M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Ham Lake submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ham Lake 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
$2,840,000
ML approach
$2,670,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$3,630,000
Current use
Blend value · Realmo final
$2.72M
Range $2.44M – $2.99M · ±10% · vs last sale $2.68M (Sep 29 2022)
Last sale anchor
$2.68M
Sep 29 2022
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
$73 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$65,053
Tax year 2024
Assessed value
$3,426,200
Assessed 2024
Previous assessed
$3,426,200
+0.0% YoY
Effective rate
1.90%
On assessed value
Assessed land
$280,800
Assessed improvement
$3,145,400
Land market value
$280,800
Improvement market value
$3,145,400
Total market value
$3,426,200
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
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
For Lease
Year built
1984
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
EVAPORATIVE
Stories
1
Total area
37,048 SF
Lot
2.58 ac (112,385 SF)
APN
17-32-23-34-0002
UPID
US46-0523795
Jurisdiction
ANOKA
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
INDUSTRIAL (GENERAL) Current
Est. value
$3.6M
INDUSTRIAL (GENERAL) Current
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
1984
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
2.58 ac
Current owner
From public records · entity-resolved
Ultimate Investments LLC
Entity
Mailing address
1550 91ST AVE NE, BLAINE, MN 55449-4385
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 20, 2024
—
Ultimate Investments LLC
—
Deed
related
$250,000 · Village Bank
Sep 29, 2022
$2,675,000
Ultimate Investments LLC
Sullivan Property Investments Lc
Warranty Deed
$2,411,000 · Village Bank
Mar 23, 2022
$1,888,000
Sullivan Property Investments LLC
Hobe INC
Warranty Deed
$1,583,156 · Freedombank
Aug 28, 2018
—
Hobe INC
—
Deed
related
$483,797 · Us Bk
Mar 24, 2017
—
Hobe INC
—
Deed
related
$195,000 · Us Bk
—
—
Hobe INC
—
Loan Modification
related
$195,000 · Us Bk
—
—
Hobe INC
—
Loan Modification
related
$483,797 · Us Bk
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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