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Property profile & analytics
OFF-MARKET
Estimated value
$940,000
Warehouses
217 Ctr St New Ulm, MN 56073
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US46-2668985
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2002
Total area
15,400 SF
Zoning code
I2
APN
001.580.182.04.050
UPID
US46-2668985
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
$940k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$734k
Blend (final)
Blend
$940k
Owner & transaction history
Kin Line Capital LLC · 2 yrs held
Kin Line Capital LLC
since 2024
Last sale
$942,064
2 recorded transactions
Zoning & alternative use
I2 · New Ulm, MN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.5M
+79.4%
Industrial (general)
$1.3M
+51.2%
Retail stores
$965,000
+12.2%
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 New Ulm submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs New Ulm 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
$940,000
ML approach
$940,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$860,000
Current use
OFFICE BUILDING
$1,540,000
Change: +79% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,300,000
Change: +51% · Conversion: Easy
RETAIL STORES
$965,000
Change: +12% · Conversion: Moderate
AUTO REPAIR, GARAGE
$925,000
Change: +7% · Conversion: Easy
Blend value · Realmo final
$940k
Range $846k – $1.03M · ±10% · vs last sale $942k (Apr 16 2024)
Last sale anchor
$942k
Apr 16 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
$61 / 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
$13,052
Tax year 2023
Assessed value
$438,800
Assessed 2023
Previous assessed
$426,400
+2.9% YoY
Effective rate
2.97%
On assessed value
Assessed land
$68,000
Assessed improvement
$370,800
Land market value
$68,000
Improvement market value
$370,800
Total market value
$438,800
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
2002
Total area
15,400 SF
Zoning code
I2
APN
001.580.182.04.050
UPID
US46-2668985
Jurisdiction
BROWN
Zoning & alternative use
I2 · New Ulm, MNZoning I2 · permitted uses
I2 · New Ulm, MN
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
$860,000
OFFICE BUILDING
Est. value
$1.5M
INDUSTRIAL (GENERAL)
Est. value
$1.3M
RETAIL STORES
Est. value
$965,000
AUTO REPAIR, GARAGE
Est. value
$925,000
WAREHOUSE, STORAGE Current
OFFICE BUILDING
INDUSTRIAL (GENERAL)
RETAIL STORES
AUTO REPAIR, GARAGE
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
2002
Current owner
From public records · entity-resolved
Kin Line Capital LLC
Entity
Mailing address
PO BOX 792, NEW ULM, MN 56073-0792
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 16, 2024
$942,064
Kin Line Capital LLC
Brike LLC
Land Contract
$942,064 · Brike LLC
Aug 16, 2011
—
Brike LLC
Farmers Cooperative Of Hanska
Warranty 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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