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Property profile & analytics
OFF-MARKET
Estimated value
$4,280,000
Warehouses
1950 Heartland Ave Casselton, ND 58012
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US56-0038542
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1995
Total area
49,009 SF
APN
03-0875-00120-000
UPID
US56-0038542
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
-
SB&B Foods, Inc. - Shipping and Receiving Specialty Food Shop Farmer's Market
-
SB&B Foods, Inc., Warehouse/Shipping Food Processing Plant Factory
-
Identity AG Processing LLC Agricultural Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$5.37M
Comparable Approach
Comparable
$4.48M
Blend (final)
Blend
$4.28M
Owner & transaction history
Identity Ag Processing LLC · 5 yrs held
Identity Ag Processing LLC
since 2020
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$6.4M
+27.1%
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 Casselton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Casselton 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%
$5,810,000
6.5%
$5,365,000
7%
$4,980,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$5,020,000
Current use
COMMERCIAL (GENERAL)
$6,375,000
Change: +27% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$4,620,000
Change: -8% · Conversion: Difficult
Blend value · Realmo final
$4.28M
Range $3.85M – $4.71M · ±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
$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
$39,501
Tax year 2023
Assessed value
$1,245,200
Assessed 2023
Previous assessed
$803,800
+54.9% YoY
Effective rate
3.17%
On assessed value
Assessed land
$257,750
Assessed improvement
$987,450
Land market value
$515,500
Improvement market value
$1,974,900
Total market value
$2,490,400
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1995
Heating
NONE
Buildings
7
Total area
49,009 SF
APN
03-0875-00120-000
UPID
US56-0038542
Jurisdiction
CASS
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
WAREHOUSE, STORAGE Current
Est. value
$5.0M
COMMERCIAL (GENERAL)
Est. value
$6.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.6M
WAREHOUSE, STORAGE Current
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
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
1995
Heating
NONE
Buildings
7
Current owner
From public records · entity-resolved
Identity Ag Processing LLC
Entity
Mailing address
PO BOX 549, CASSELTON, ND 58012-0549
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 10, 2020
—
Identity Ag Processing LLC
—
Deed
related
$3,250,000 · Cornerstone Bk
Sep 9, 2020
—
Identity Ag Processing LLC
—
Deed
related
$3,045,000 · Cornerstone Bk
Apr 4, 2019
—
Identity Ag Processing LLC
—
Deed
related
$300,000 · Cornerstone Bk
Feb 15, 2019
—
Identity Ag Processing LLC
—
Deed
related
$2,975,000 · Cornerstone Bank
—
—
Identity Ag Processing LLC
—
Loan Modification
related
$300,000 · Cornerstone Bk
—
—
Identity Ag Processing LLC
—
Loan Modification
related
$3,045,000 · Cornerstone Bk
—
—
Identity Ag Processing LLC
—
Loan Modification
related
$3,250,000 · Cornerstone 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.
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