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Property profile & analytics
OFF-MARKET
Retail space
22 3rd NW St Faribault, MN 55021-5118
Individually Owned
4-yr Hold
Free & Clear
Property ID
US46-1347551
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1910
Total area
1,463 SF
Lot
0.06 ac (2,790 SF)
APN
18.31.1.26.279
UPID
US46-1347551
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
-
new central clothing Clothing & Fashion Store
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
Brett Pollard · 4 yrs held
Brett Pollard
since 2021
Last sale
$190,000
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 Faribault submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Faribault 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 2024Property tax & assessments
Tax year 2024
Tax billed
$2,330
Tax year 2024
Assessed value
$163,500
Assessed 2024
Previous assessed
$163,500
+0.0% YoY
Effective rate
1.43%
On assessed value
Assessed land
$32,900
Assessed improvement
$130,600
Land market value
$32,900
Improvement market value
$130,600
Total market value
$163,500
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1910
Heating
NONE
Stories
2
Total area
1,463 SF
Lot
0.06 ac (2,790 SF)
APN
18.31.1.26.279
UPID
US46-1347551
Jurisdiction
RICE
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
1910
Heating
NONE
Stories
2
Lot
0.06 ac
Current owner
From public records · entity-resolved
Brett Pollard
Individual
Free & Clear · 4 yrs held
Mailing address
22 3RD ST NW, FARIBAULT, MN 55021-5118
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 2, 2024
—
Ann Pollard Carr
—
Deed
related
$50,000 · The State Bank Of Faribault
Sep 8, 2021
$190,000
Brett Pollard
Henry John Meuwissen
Warranty Deed
—
Sep 14, 2020
—
Henry J Meuwissen
—
Deed
related
$52,000 · Members Cooperative Cu
Jun 25, 2018
—
Henry J Meuwissen
—
Deed
related
$111,900 · Members Cooperative Cu
Jun 4, 2018
—
Henry J Meuwissen
—
Deed
related
$60,000 · Members Cooperative Cu
Jan 25, 2017
—
Henry J Meuwissen
—
Trustees Deed
related
$50,000 · Miscellaneous Govt Agcy
Aug 21, 2006
—
Henry J Meuwissen
—
Trustees Deed
related
$350,000 · Bremer Bank NA
—
—
Henry J Meuwissen
—
Loan Modification
related
$310 · Bremer Bank NA
—
—
Henry J Meuwissen
—
Deed Of Trust
related
$60,000 · Members Cooperative Cu
—
—
Henry J Meuwissen
—
Loan Modification
related
$111,900 · Members Cooperative Cu
—
—
Henry J Meuwissen
—
Loan Modification
related
$52,000 · Members Cooperative Cu
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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