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Property profile & analytics
OFF-MARKET
Estimated value
$2,495,000
Industrial properties
1800 15th N St Princeton, MN 55371-1077
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US46-1824878
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
2015
Total area
28,790 SF
Lot
4.44 ac (193,406 SF)
APN
24-029-0405
UPID
US46-1824878
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
Current use
Occupant on record · Public records
-
Storage Rentals of America Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.43M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.50M
Owner & transaction history
Sroa 1800 15th Ave Mn LLC · 3 yrs held
Sroa 1800 15th Ave Mn LLC
since 2022
Last sale
$2.6M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$3.1M
+135.0%
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 Princeton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Princeton 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
$2,445,000
ML approach
$2,425,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$3,125,000
Change: +135% · Conversion: Difficult
Blend value · Realmo final
$2.50M
Range $2.25M – $2.74M · ±10% · vs last sale $2.55M (Aug 15 2022)
Last sale anchor
$2.55M
Aug 15 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
$87 / 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
$42,690
Tax year 2023
Assessed value
$1,231,400
Assessed 2023
Previous assessed
$1,249,700
-1.5% YoY
Effective rate
3.47%
On assessed value
Assessed land
$290,100
Assessed improvement
$941,300
Land market value
$290,100
Improvement market value
$941,300
Total market value
$1,231,400
Applied tax rate
24.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Off-Market
Year built
2015
Heating
NONE
Total area
28,790 SF
Lot
4.44 ac (193,406 SF)
APN
24-029-0405
UPID
US46-1824878
Jurisdiction
MILLE LACS
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
COMMERCIAL (GENERAL)
Est. value
$3.1M
COMMERCIAL (GENERAL)
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
2015
Heating
NONE
Lot
4.44 ac
Current owner
From public records · entity-resolved
Sroa 1800 15th Ave Mn LLC
Entity
Mailing address
2751 S DIXIE HWY #450, WEST PALM BEACH, FL 33405-1233
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 15, 2024
—
Sroa 1800 15th Avenue Mn LLC
—
Deed
related
$62,000,000 · Metlife Real Estate Lending LLC
Oct 6, 2022
—
Sroa 1800 15th Ave Mn LLC
—
Deed
related
$46,700,000 · Voya Investment Management LLC
Aug 15, 2022
$2,553,297
Sroa 1800 15th Ave Mn LLC
Princeton Storage LLC
Limited Warranty Deed
—
Mar 11, 2022
—
Princeton Storage LLC
—
Deed
related
$1,650,000 · Wings Financial FCU
Feb 3, 2020
—
Princeton Storage LLC
—
Deed
related
$328,240 · Bell Bank
Dec 16, 2019
$1,150,000
Princeton Storage LLC
Trusty Storage LLC
Warranty Deed
$844,000 · Bell Bank
Mar 18, 2014
$75,000
Trusty Storage LLC
Ideality Development Company LLC
Warranty Deed
—
Dec 31, 2013
—
Thousand Acres Development Company
Thousand Acres Development Company
Quit Claim Deed
related
—
Dec 31, 2013
$1,210,000
Ideality Development Company LLC
Thousand Acres Development Company
Warranty Deed
—
Oct 15, 2010
$70,000
Thousand Acres Development Company
Hatch Properties
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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