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Property profile & analytics
OFF-MARKET
Estimated value
$510,000
Turn key restaurants
16 Minnesota St New Ulm, MN 56073-1728
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US46-2200664
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1881
Total area
4,320 SF
Zoning code
C3
APN
001.001.065.10.101
UPID
US46-2200664
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
$490k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$510k
Owner & transaction history
6616 LLC · 3 yrs held
6616 LLC
since 2022
Last sale
$550,000
4 recorded transactions
Zoning & alternative use
C3 · New Ulm, MN
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 New Ulm submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs New Ulm 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
$450,000
ML approach
$490,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$460,000
Current use
OFFICE BUILDING
$430,000
Change: -6% · Conversion: Moderate
Blend value · Realmo final
$510k
Range $459k – $561k · ±10% · vs last sale $550k (Sep 12 2022)
Last sale anchor
$550k
Sep 12 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
$118 / 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
$4,626
Tax year 2023
Assessed value
$240,900
Assessed 2023
Previous assessed
$185,700
+29.7% YoY
Effective rate
1.92%
On assessed value
Assessed land
$42,400
Assessed improvement
$198,500
Land market value
$42,400
Improvement market value
$198,500
Total market value
$240,900
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1881
Buildings
2
Total area
4,320 SF
Zoning code
C3
APN
001.001.065.10.101
UPID
US46-2200664
Jurisdiction
BROWN
Zoning & alternative use
C3 · New Ulm, MN
Zoning C3 · permitted uses
C3 · New Ulm, MN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
New Ulm. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$460,000
OFFICE BUILDING
Est. value
$430,000
RESTAURANT Current
OFFICE BUILDING
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
1881
Buildings
2
Current owner
From public records · entity-resolved
6616 LLC
Entity
Mailing address
308 S MINNESOTA ST, NEW ULM, MN 56073-2160
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 1, 2024
—
Ll16 LLC
—
Deed
related
$35,690 · New Ulm Economic Development Authority
Sep 12, 2022
$550,000
6616 LLC
L Lueth Holdings Co INC
Warranty Deed
$295,000 · Bank Midwest NA
Jun 8, 2020
$183,000
Amb Rentals LLC
Catherine M Rasmussen
Warranty Deed
$183,000 · Southpoint FCU
Jun 29, 2012
—
L Lueth Holding Company INC
G And M Real Estate LLC
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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