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Property profile & analytics
OFF-MARKET
Estimated value
$1,605,000
Apartment buildings
1962 Grand Ave Saint Paul, MN 55105-1481
Individually Owned
3-yr Hold
~
Est. High Equity
Property ID
US46-0112651
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1925
Construction
WOOD FRAME
Total area
18,920 SF
Lot
0.28 ac (11,979 SF)
Zoning code
H
APN
04-28-23-32-0061
UPID
US46-0112651
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
$1.62M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.69M
Blend (final)
Blend
$1.61M
Owner & transaction history
Ronald Patrick Smith · 3 yrs held
Ronald Patrick Smith
since 2022
Last sale
$2.2M
5 recorded transactions
Zoning & alternative use
H · Saint Paul, MN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
code of ordinances
Top alternative use upside
Medical building
$2.8M
+34.7%
Warehouse, storage
$2.2M
+5.4%
Office building
$2.1M
+0.1%
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 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
$1,605,000
ML approach
$1,615,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$2,070,000
Current use
MEDICAL BUILDING
$2,785,000
Change: +35% · Conversion: Moderate
WAREHOUSE, STORAGE
$2,180,000
Change: +5% · Conversion: Difficult
OFFICE BUILDING
$2,070,000
Change: +0% · Conversion: Moderate
RETAIL STORES
$1,935,000
Change: -7% · Conversion: Difficult
Blend value · Realmo final
$1.61M
Range $1.44M – $1.77M · ±10% · vs last sale $2.23M (Sep 22 2022)
Last sale anchor
$2.23M
Sep 22 2022
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
$85 / 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
$50,452
Tax year 2023
Assessed value
$2,205,000
Assessed 2023
Previous assessed
$2,205,000
+0.0% YoY
Effective rate
2.29%
On assessed value
Assessed land
$400,000
Assessed improvement
$1,805,000
Land market value
$400,000
Improvement market value
$1,805,000
Total market value
$2,205,000
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
1925
Construction
WOOD FRAME
Heating
YES
Cooling
NONE
Units
20
Total area
18,920 SF
Lot
0.28 ac (11,979 SF)
Zoning code
H
APN
04-28-23-32-0061
UPID
US46-0112651
Jurisdiction
RAMSEY
Zoning & alternative use
H · Saint Paul, MNZoning 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
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$2.1M
MEDICAL BUILDING
Est. value
$2.8M
WAREHOUSE, STORAGE
Est. value
$2.2M
OFFICE BUILDING
Est. value
$2.1M
RETAIL STORES
Est. value
$1.9M
APARTMENT HOUSE (5+ UNITS) Current
MEDICAL BUILDING
WAREHOUSE, STORAGE
OFFICE BUILDING
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
1925
Construction
WOOD FRAME
Heating
YES
Cooling
Yes
Units
20
Lot
0.28 ac
Current owner
From public records · entity-resolved
Ronald Patrick Smith
Individual
Mailing address
1564 SELBY AVE APT #9, SAINT PAUL, MN 55104-6337
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 22, 2022
—
Ronald Patrick Smith
1962 Grand Avenue LLC
Limited Warranty Deed
—
Sep 19, 2022
—
Ronald Patrick Smith
1962 Grand Avenue LLC
Limited Warranty Deed
—
Mar 7, 2000
$330,000
1962 Grand Avenue LLC
1962 Grand LP
Grant Deed
related
—
Jun 18, 1999
—
1962 Grand Limited Partnership
1967 Grand Limited Partnership
Quit Claim Deed
related
$488,000 · Bank Of America
Jun 18, 1999
$480,000
Krohn,john
St Anthony Real Estate Company
Trustees 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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