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Property profile & analytics
OFF-MARKET
Estimated value
$840,000
Office Spaces
1828 Market Blvd, Hastings, MN 55033-3494
Entity Owned
12-yr Hold
Free & Clear
Property ID
US46-1593915
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
2003
Construction
STEEL FRAME
Total area
5,131 SF
Lot
1.27 ac (55,321 SF)
APN
19-32080-01-040
UPID
US46-1593915
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
-
DaVita Historical Hastings Dialysis Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.05M
Comparable Approach
Comparable
$844k
Blend (final)
Blend
$840k
Owner & transaction history
Hastings Marketplace Stn LLC · 12 yrs held
Hastings Marketplace Stn LLC
since 2013
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$1.0M
+63.6%
Restaurant
$995,000
+60.0%
Auto repair, garage
$875,000
+40.8%
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 Hastings submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hastings 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%
$1,130,000
6.5%
$1,045,000
7%
$970,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$620,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,015,000
Change: +64% · Conversion: Difficult
RESTAURANT
$995,000
Change: +60% · Conversion: Moderate
AUTO REPAIR, GARAGE
$875,000
Change: +41% · Conversion: Difficult
WAREHOUSE, STORAGE
$780,000
Change: +26% · Conversion: Difficult
RETAIL STORES
$730,000
Change: +18% · Conversion: Moderate
Blend value · Realmo final
$840k
Range $756k – $924k · ±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
$164 / 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
$36,586
Tax year 2023
Assessed value
$1,221,300
Assessed 2022
Previous assessed
$1,176,300
+3.8% YoY
Effective rate
3.00%
On assessed value
Assessed land
$465,400
Assessed improvement
$755,900
Land market value
$465,400
Improvement market value
$755,900
Total market value
$1,221,300
Applied tax rate
19.0000
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
Office Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
2003
Construction
STEEL FRAME
Heating
NONE
Bathrooms
2
Total area
5,131 SF
Lot
1.27 ac (55,321 SF)
APN
19-32080-01-040
UPID
US46-1593915
Jurisdiction
DAKOTA
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
OFFICE BUILDING Current
Est. value
$620,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.0M
RESTAURANT
Est. value
$995,000
AUTO REPAIR, GARAGE
Est. value
$875,000
WAREHOUSE, STORAGE
Est. value
$780,000
RETAIL STORES
Est. value
$730,000
OFFICE BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
RESTAURANT
AUTO REPAIR, GARAGE
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
2003
Construction
STEEL FRAME
Heating
NONE
Bathrooms
2
Lot
1.27 ac
Current owner
From public records · entity-resolved
Hastings Marketplace Stn LLC
Entity
Free & Clear · 12 yrs held
Mailing address
11501 NORTHLAKE DR, CINCINNATI, OH 45249-1669
Ownership since
2013
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
Dec 9, 2013
$15,900,000
Hastings Marketplace Stn LLC
Hastings Center LLC
Grant Deed
—
Jan 3, 2013
—
Hastings Center LLC
—
Deed Of Trust
related
$3,300,000 · Royal Cu
Mar 22, 2011
—
375 Jackson Courtly LLC
—
Deed Of Trust
related
$3,380,202 · Minnwest Bank Metro
Sep 30, 2009
$11,000,000
Hastings Center LLC
Inch III Of Hastings LLC
Grant Deed
related
$7,700,000 · Royal Cu
Sep 24, 2004
$6,600,000
Inch III Of Hastings LLC
Inland Hastings Marketplace Ll
Warranty Deed
$9,780,000 · Principal Life Insurance Co
Feb 10, 2004
$13,200,000
Inland Hastings Marketplace Ll
Nap Hastings Marketplace LLC
Grant 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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