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Property profile & analytics
OFF-MARKET
Commercial real estate
1890 Wayzata Blvd, Long Lake, MN 55356-9491
Individually Owned
12-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US46-0123975
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1951
Construction
CONCRETE BLOCKS
Lot
0.17 ac (7,405 SF)
APN
34-118-23-13-0040
UPID
US46-0123975
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
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Pellett,loren A & Srey H · 12 yrs held
Pellett,loren A & Srey H
since 2014
7 recorded transactions
Zoning & alternative use
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 Long Lake submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Long 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$13,296
Tax year 2023
Assessed value
$491,000
Assessed 2023
Previous assessed
$469,000
+4.7% YoY
Effective rate
2.71%
On assessed value
Assessed land
$102,000
Assessed improvement
$389,000
Land market value
$102,000
Improvement market value
$389,000
Total market value
$491,000
Applied tax rate
278.0000
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1951
Construction
CONCRETE BLOCKS
Heating
ELECTRIC
Cooling
CENTRAL
Lot
0.17 ac (7,405 SF)
APN
34-118-23-13-0040
UPID
US46-0123975
Jurisdiction
HENNEPIN
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1951
Construction
CONCRETE BLOCKS
Heating
ELECTRIC
Cooling
Yes
Lot
0.17 ac
Current owner
From public records · entity-resolved
Pellett,loren A & Srey H
Individual
Mailing address
2930 HIGHLAND CT, MOUND, MN 55364-8500
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 12, 2020
—
Loren A Pellet
—
Deed
related
$368,000 · 21st Century Bank
Apr 5, 2019
—
Loren Pellet
—
Deed
related
$375,000 · Tradition Capital Bank
Apr 11, 2014
—
Pellett,loren A & Srey H
Hair Envy Salon & Spa Of Distinct
Quit Claim Deed
related
$360,000 · Associated Bk
Apr 27, 2009
$500
Hair Envy Salon & Spa Of Distinct
Pellett,srey H & Loren A
Quit Claim Deed
related
—
Apr 7, 2009
$436,700
Srey Pellett
Cargar Properties
Grant Deed
$376,700 · Cargar Properties
Apr 7, 2009
$500
Cargar Properties
Phleger,gary L & Shirley
Quit Claim Deed
related
—
—
—
Loren Pellet
—
Deed Of Trust
related
$375,000 · Tradition Cap Bk
—
—
Loren A Pellet
—
Deed Of Trust
related
$368,000 · 21st Century Bk
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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