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Property profile & analytics
OFF-MARKET
Estimated value
$760,000
Warehouses
16449 18th SE St Gardner, ND 58036-9627
Individually Owned
4-yr Hold
~
Est. High Equity
Property ID
US56-0712688
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1997
Total area
5,940 SF
APN
49-0150-00010-000
UPID
US56-0712688
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
by Request
CAP Approach
CAP
$650k
Comparable Approach
Comparable
$855k
Blend (final)
Blend
$760k
Owner & transaction history
Benjamin T Hoiland · 4 yrs held
Benjamin T Hoiland
since 2022
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$775,000
+27.1%
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 Gardner submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Gardner 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%
$705,000
6.5%
$650,000
7%
$605,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$610,000
Current use
COMMERCIAL (GENERAL)
$775,000
Change: +27% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$560,000
Change: -8% · Conversion: Difficult
Blend value · Realmo final
$760k
Range $684k – $836k · ±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
$128 / 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
$4,270
Tax year 2023
Assessed value
$264,200
Assessed 2023
Previous assessed
$248,750
+6.2% YoY
Effective rate
1.62%
On assessed value
Assessed land
$51,650
Assessed improvement
$212,550
Land market value
$103,300
Improvement market value
$425,100
Total market value
$528,400
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1997
Heating
NONE
Buildings
2
Total area
5,940 SF
APN
49-0150-00010-000
UPID
US56-0712688
Jurisdiction
CASS
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
WAREHOUSE, STORAGE Current
Est. value
$610,000
COMMERCIAL (GENERAL)
Est. value
$775,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$560,000
WAREHOUSE, STORAGE Current
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
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
1997
Heating
NONE
Buildings
2
Current owner
From public records · entity-resolved
Benjamin T Hoiland
Individual
Mailing address
16449 18TH ST SE, GARDNER, ND 58036-9627
Mailing matches property
Yes
Owner-occupied
Yes
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 18, 2022
—
Benjamin T Hoiland
—
Deed
related
$496,000 · Ark-la-tex Financial Services LLC
Aug 28, 2019
—
Benjamin T Hoiland
—
Deed
related
$515,000 · Cornerstone Bk
May 3, 2018
—
Benjamin T Hoiland
—
Deed
related
$515,000 · Cornerstone Bk Mustang
—
—
Benjamin T Hoiland
—
Loan Modification
related
$515,000 · Cornerstone Bk
—
—
Benjamin T Hoiland
—
Loan Modification
related
$515,000 · Cornerstone Bk Mustang
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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