Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$880,000
Apartment buildings
1652 9th St White Bear Lake, MN 55110-6736
Entity Owned
4-yr Hold
Property ID
US46-0794092
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1979
Construction
FRAME
Total area
10,176 SF
Lot
0.89 ac (38,768 SF)
Zoning code
A
APN
15-30-22-13-0001
UPID
US46-0794092
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
$775k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$962k
Blend (final)
Blend
$880k
Owner & transaction history
Morrow Partners LLC · 4 yrs held
Morrow Partners LLC
since 2022
Last sale
$950,000
2 recorded transactions
Zoning & alternative use
A · White Bear Lake, MN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.2M
+26.9%
Warehouse, storage
$1.2M
+25.3%
Retail stores
$1.0M
+11.2%
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 White Bear Lake submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs White Bear 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
$775,000
ML approach
$775,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$935,000
Current use
OFFICE BUILDING
$1,190,000
Change: +27% · Conversion: Moderate
WAREHOUSE, STORAGE
$1,170,000
Change: +25% · Conversion: Difficult
RETAIL STORES
$1,040,000
Change: +11% · Conversion: Difficult
Blend value · Realmo final
$880k
Range $792k – $968k · ±10% · vs last sale $950k (May 10 2022)
Last sale anchor
$950k
May 10 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
$86 / 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
$21,582
Tax year 2023
Assessed value
$1,320,700
Assessed 2023
Previous assessed
$1,320,700
+0.0% YoY
Effective rate
1.63%
On assessed value
Assessed land
$240,000
Assessed improvement
$1,080,700
Land market value
$240,000
Improvement market value
$1,080,700
Total market value
$1,320,700
Applied tax rate
624.0000
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1979
Construction
FRAME
Heating
HOT WATER
Cooling
WINDOW A/C
Units
12
Total area
10,176 SF
Lot
0.89 ac (38,768 SF)
Zoning code
A
APN
15-30-22-13-0001
UPID
US46-0794092
Jurisdiction
RAMSEY
Zoning & alternative use
A · White Bear Lake, MN
Zoning A · permitted uses
A · White Bear Lake, MN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
White Bear Lake. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$935,000
OFFICE BUILDING
Est. value
$1.2M
WAREHOUSE, STORAGE
Est. value
$1.2M
RETAIL STORES
Est. value
$1.0M
APARTMENT HOUSE (5+ UNITS) Current
OFFICE BUILDING
WAREHOUSE, STORAGE
RETAIL STORES
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
1979
Construction
FRAME
Heating
HOT WATER
Cooling
Yes
Units
12
Lot
0.89 ac
Current owner
From public records · entity-resolved
Morrow Partners LLC
Entity
Mailing address
PO BOX 2068, STILLWATER, MN 55082
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 10, 2022
$950,000
Morrow Partners LLC
Roger J Baron
Warranty Deed
$900,000 · First State Bank & Trust
Aug 29, 2018
$500
Roger J Baron
Baron Construction INC
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.
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?”
You own 1652 9th St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
