Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1642 Snelling N Ave Falcon Heights, MN 55108-2137

    • Apartment buildings
    • 8,072 SF
    • 0.37 lot acres
    OFF-MARKET
    Value Estimations
    $780,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US46-1083971
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Carousel Flats / Apartment Building / Apartment Complex

    Property Details for 1642 Snelling N Ave

    Year built
    1949
    Construction
    WOOD FRAME
    Lot size
    0.37 lot acres
    Property size
    8,072 SF
    Zone code
    D
    Property type
    Apartment buildings
    APN
    22-29-23-22-0058
    APU
    222923220058

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $852,000
      Market price range: $452k - $1.03M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $740,000
      Current use
      MEDICAL BUILDING
      $1,190,000
      Change: +60% Conversion: Moderate
      WAREHOUSE, STORAGE
      $930,000
      Change: +25% Conversion: Difficult
      OFFICE BUILDING
      $885,000
      Change: +19% Conversion: Moderate
      RETAIL STORES
      $825,000
      Change: +11% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Falcon Heights
    County
    Ramsey
    State
    Minnesota
    Longitude
    -93.1659
    Latitude
    44.9905
    CBSA code
    33460
    CBSA name
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $22,618
    $220,000
    $1,096,000
    $1,316,000
    -
    $220,000
    $1,096,000
    $1,316,000

    Comparable in this City

    • Value Estimation
      $740,000
      7,920 SF

      2082 Como Ave

      APARTMENT HOUSE (5+ UNITS) • 7,920 SF
      2082 Como Ave, Saint Paul, MN 55108-1806
      View Details
    • Value Estimation by Request
      7,503 SF

      1547 Wynne Ave

      APARTMENT HOUSE (5+ UNITS) • 7,503 SF
      1547 Wynne Ave, Saint Paul, MN 55108-2687
      View Details
    • Value Estimation
      $1,070,000
      11,868 SF

      2030 Brewster St

      APARTMENT HOUSE (5+ UNITS) • 11,868 SF
      2030 Brewster St, Saint Paul, MN 55108-1837
      View Details
    • Value Estimation
      $525,000
      5,544 SF

      2076 Como Ave

      APARTMENT HOUSE (5+ UNITS) • 5,544 SF
      2076 Como Ave, Saint Paul, MN 55108-2028
      View Details
    • Value Estimation
      $1,160,000
      13,440 SF

      1626 Eustis St

      APARTMENT HOUSE (5+ UNITS) • 13,440 SF
      1626 Eustis St, Lauderdale, MN 55108-1255
      View Details
    • Value Estimation
      $735,000
      7,659 SF

      1561 Idaho W Ave

      APARTMENT HOUSE (5+ UNITS) • 7,659 SF
      1561 Idaho W Ave, Falcon Heights, MN 55108-2120
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      26,865 SF

      Iconic Mixed-Use Neighborhood Center

      Charming mixed-use center in St. Anthony Park, near University.
      2258 Como Ave, Saint Paul, MN 55108
      View Details
    • $400,000
      2,467 SF

      Charming Como Park Townhome

      Stylish townhome near Como Park and State Fairgrounds.
      1407 Midway Pkwy, Saint Paul, MN 55108
      View Details
    • $230,000
      0.24 Acres

      Residential Lot in St. Paul

      0.24 acre lot in St. Anthony Park neighborhood.
      2401 Commonwealth Ave, Saint Paul, MN 55108
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      71,971 SF

      Saint Paul Executive Office/Flex Space

      71,971 SF, Multi-Use, Prime Location
      1280 Energy Park Dr, Saint Paul, MN 55108
      View Details
    • $18 SF/Yr
      123,577 SF

      St. Paul Office & Flex Space Available

      Midway location, 6 suites, 709-27,146 SF
      1350 Energy Ln, Saint Paul, MN 55108
      View Details
    • Contact for pricing
      107,000 SF

      Como Business Center: Office Space for Lease

      Saint Paul Office/Flex Space - 45,144 SF Available
      1085 Snelling Ave, Saint Paul, MN 55108
      View Details
    • Contact for pricing
      236,000 SF

      Energy Technology Center Office Space

      St. Paul Executive Office Suites Available
      1450 Energy Park Dr, Saint Paul, MN 55108
      View Details
    • Contact for pricing
      92,000 SF

      Historic Saint Paul Office Space

      Executive & Creative Office Suites Available
      1295 Bandana Blvd, Saint Paul, MN 55108
      View Details
    • Contact for pricing
      10,000 SF

      Saint Paul Retail Space Available

      Bakery space in established center. Prime Saint Paul location.
      2233 Energy Park Dr, Saint Paul, MN 55108
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1642 Snelling N Ave
    Falcon Heights, MN 55108-2137
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.