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Property profile & analytics
FOR LEASE
Industrial properties
1800 Elm St Southeast, Minneapolis, MN 55414
Entity Owned
6-yr Hold
Free & Clear
Property ID
US46-1086620
For Lease
$12,005,000
1800 Elm St Southeast, Minneapolis, MN 55414
View Listing →
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1997
Construction
CONCRETE
Total area
156,567 SF
Lot
7.08 ac (308,405 SF)
Zoning code
I1
APN
19-029-23-32-0010
UPID
US46-1086620
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
-
Dinkytown High School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$16.68M
Blend (final)
Blend
$12.01M
Owner & transaction history
B9 Polar University LLC · 6 yrs held
B9 Polar University LLC
since 2020
6 recorded transactions
Zoning & alternative use
I1 · Minneapolis, 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 Minneapolis submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Minneapolis 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$14,575,000
Current use
Blend value · Realmo final
$12.01M
Range $10.80M – $13.21M · ±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
$77 / 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
$414,291
Tax year 2023
Assessed value
$13,000,000
Assessed 2023
Previous assessed
$10,900,000
+19.3% YoY
Effective rate
3.19%
On assessed value
Assessed land
$2,769,600
Assessed improvement
$10,230,400
Land market value
$2,769,600
Improvement market value
$10,230,400
Total market value
$13,000,000
Applied tax rate
1.0000
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
For Lease
Year built
1997
Construction
CONCRETE
Heating
FORCED AIR
Cooling
YES
Stories
1
Total area
156,567 SF
Lot
7.08 ac (308,405 SF)
Zoning code
I1
APN
19-029-23-32-0010
UPID
US46-1086620
Jurisdiction
HENNEPIN
Zoning & alternative use
I1 · Minneapolis, MN
Zoning I1 · permitted uses
I1 · Minneapolis, MN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Minneapolis. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$14.6M
INDUSTRIAL (GENERAL) Current
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
Construction
CONCRETE
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
7.08 ac
Current owner
From public records · entity-resolved
B9 Polar University LLC
Entity
Free & Clear · 6 yrs held
Mailing address
PO BOX 2980, CHICAGO, IL 60690-2980
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 13, 2024
—
B9 Polar University LLC
—
Deed
related
$860,000,000 · Jpmorgan Chase Bank NA
Sep 30, 2020
—
B9 Polar University LLC
—
Deed
related
$14,232,558 · Bank Of America
Apr 13, 2020
$15,070,000
B9 Polar University LLC
Csm Investors III LLC
Grant Deed
—
Aug 31, 2018
—
Csm Investors III LLC
Csm Investors INC
Quit Claim Deed
related
—
Jun 6, 2018
$218,235
Minnetonka Hills Apts II Land
Minnetonka Hills Apts LLP
Grant Deed
related
—
—
—
B9 Polar University LLC
—
Deed Of Trust
related
$14,232,558 · Bank Of America
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?”
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