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Property profile & analytics
OFF-MARKET
Estimated value
$2,600,000
Apartment buildings
1947 Grand Ave, Saint Paul, MN 55105-1479
Entity Owned
2-yr Hold
Property ID
US46-3086964
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1939
Construction
WOOD FRAME
Total area
14,868 SF
Lot
0.17 ac (7,492 SF)
Zoning code
H
APN
04-28-23-32-0041
UPID
US46-3086964
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
$2.60M
CAP Approach
CAP
$3.07M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.60M
Owner & transaction history
Saint Thomas Apartments LLC · 2 yrs held
Saint Thomas Apartments LLC
since 2024
Last sale
$2.6M
3 recorded transactions
Zoning & alternative use
H · Saint Paul, MN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.1M
+93.1%
Auto repair, garage
$3.0M
+85.3%
Neighborhood: shopping center
$2.5M
+53.5%
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 Saint Paul submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Saint Paul 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
$2,600,000
ML approach
$2,600,000
CAP Approach
CAP Return
Estimation
6%
$3,325,000
6.5%
$3,070,000
7%
$2,850,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,625,000
Current use
RESTAURANT
$3,140,000
Change: +93% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,015,000
Change: +85% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,495,000
Change: +53% · Conversion: Difficult
MEDICAL BUILDING
$2,190,000
Change: +35% · Conversion: Moderate
WAREHOUSE, STORAGE
$1,715,000
Change: +5% · Conversion: Difficult
OFFICE BUILDING
$1,630,000
Change: +0% · Conversion: Moderate
Blend value · Realmo final
$2.60M
Range $2.34M – $2.86M · ±10% · vs last sale $2.60M (Jan 31 2024)
Last sale anchor
$2.60M
Jan 31 2024
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
$175 / 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
$44,562
Tax year 2023
Assessed value
$2,002,000
Assessed 2023
Previous assessed
$2,002,000
+0.0% YoY
Effective rate
2.23%
On assessed value
Assessed land
$380,000
Assessed improvement
$1,622,000
Land market value
$380,000
Improvement market value
$1,622,000
Total market value
$2,002,000
Applied tax rate
625.0000
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
1939
Construction
WOOD FRAME
Heating
YES
Cooling
NONE
Units
20
Total area
14,868 SF
Lot
0.17 ac (7,492 SF)
Zoning code
H
APN
04-28-23-32-0041
UPID
US46-3086964
Jurisdiction
RAMSEY
Zoning & alternative use
H · Saint Paul, MN
Zoning H · permitted uses
H · Saint Paul, MN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Saint Paul. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.6M
RESTAURANT
Est. value
$3.1M
AUTO REPAIR, GARAGE
Est. value
$3.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.5M
MEDICAL BUILDING
Est. value
$2.2M
WAREHOUSE, STORAGE
Est. value
$1.7M
OFFICE BUILDING
Est. value
$1.6M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
WAREHOUSE, STORAGE
OFFICE BUILDING
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
1939
Construction
WOOD FRAME
Heating
YES
Cooling
Yes
Units
20
Lot
0.17 ac
Current owner
From public records · entity-resolved
Saint Thomas Apartments LLC
Entity
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 31, 2024
$2,600,000
Saint Thomas Apartments LLC
1947 Grand Avenue LLC
Contract Sale
$130,000 · 1947 Grand Avenue LLC
Apr 15, 2008
$525,088
1947 Grand Avenue LLC
Pergola Investments LLC
Warranty Deed
$250,000 · Pergola Investments LLC
Oct 29, 2007
$1,280,000
Pergola Investments LLC
Kieffer Bros Inv & Const
Grant Deed
$1,072,000 · Gateway Bank
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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