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Property profile & analytics
OFF-MARKET
Estimated value
$1,270,000
Retail residential properties
2207 3rd St, White Bear Lake, MN 55110-3212
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US46-0489938
Property profile
Verified
Property type
Retail residential properties
Use group
STORES & APARTMENTS
Year built
1939
Construction
WOOD FRAME
Total area
10,027 SF
Lot
0.21 ac (9,365 SF)
Zoning code
D
APN
14-30-22-41-0076
UPID
US46-0489938
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
-
Isalis (Bike/Boat/Book/etc) Store
-
Party City Party Supply Store (Bike/Boat/Book/etc) Store
-
Skunk Funk Big Box & Wholesale Store
-
Carl's Trading Co Hat Shop
-
Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.75M
Comparable Approach
Comparable
$919k
Blend (final)
Blend
$1.27M
Owner & transaction history
Sunbear Spa & Tan INC · 1 yrs held
Sunbear Spa & Tan INC
since 2025
Last sale
$1.4M
7 recorded transactions
Zoning & alternative use
D · White Bear Lake, MN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.0M
+167.7%
Neighborhood: shopping center
$1.7M
+121.6%
Medical building
$1.5M
+94.6%
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 White Bear Lake submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs White Bear Lake 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%
$1,895,000
6.5%
$1,750,000
7%
$1,625,000
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$2,030,000
Change: +168% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,685,000
Change: +122% · Conversion: Difficult
MEDICAL BUILDING
$1,475,000
Change: +95% · Conversion: Easy
OFFICE BUILDING
$1,170,000
Change: +54% · Conversion: Easy
WAREHOUSE, STORAGE
$1,155,000
Change: +52% · Conversion: Difficult
RETAIL STORES
$1,025,000
Change: +35% · Conversion: Easy
Blend value · Realmo final
$1.27M
Range $1.14M – $1.40M · ±10% · vs last sale $1.40M (Oct 8 2024)
Last sale anchor
$1.40M
Oct 8 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
$127 / 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
$36,360
Tax year 2023
Assessed value
$1,403,300
Assessed 2023
Previous assessed
$1,168,800
+20.1% YoY
Effective rate
2.59%
On assessed value
Assessed land
$234,400
Assessed improvement
$1,168,900
Land market value
$234,400
Improvement market value
$1,168,900
Total market value
$1,403,300
Applied tax rate
624.0000
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
Retail residential properties
Use group
STORES & APARTMENTS
Status
Off-Market
Year built
1939
Construction
WOOD FRAME
Heating
YES
Cooling
CENTRAL
Total area
10,027 SF
Lot
0.21 ac (9,365 SF)
Zoning code
D
APN
14-30-22-41-0076
UPID
US46-0489938
Jurisdiction
RAMSEY
Zoning & alternative use
D · White Bear Lake, MN
Zoning D · permitted uses
D · White Bear Lake, MN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
White Bear Lake. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$2.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.7M
MEDICAL BUILDING
Est. value
$1.5M
OFFICE BUILDING
Est. value
$1.2M
WAREHOUSE, STORAGE
Est. value
$1.2M
RETAIL STORES
Est. value
$1.0M
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
OFFICE BUILDING
WAREHOUSE, STORAGE
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
1939
Construction
WOOD FRAME
Heating
YES
Cooling
Yes
Lot
0.21 ac
Current owner
From public records · entity-resolved
Sunbear Spa & Tan INC
Entity
Mailing address
2207 3RD ST, WHITE BEAR LAKE, MN 55110-3212
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 18, 2025
—
Bella Commercial Holdings LLC
—
Deed
related
$512,000 · Wbd INC
Jan 8, 2025
—
Sunbear Spa & Tan INC
Rauch Enterprises LLC
Deed
$498,700 · First Resource Bank
Jan 8, 2025
$1,400,000
Bella Commercial Holdings LLC
Rauch Enterprises LLC
Warranty Deed
$712,500 · First Resource Bank
Oct 31, 2018
—
Rauch Ents LLC
—
Deed
related
—
Sep 11, 2003
$740,000
Ranch Enterprises LLC
Bear Den INC
Grant Deed
$407,500 · Boundary Waters Community Bank
Sep 11, 2003
—
Bears Den INC
Wb Capital LLC
Quit Claim Deed
related
—
Oct 25, 1999
$475,000
Bears Den INC
Storey,michael J & Joan L
Grant Deed
$400,000 · Individual
—
—
Rauch Ents LLC
—
Loan Modification
related
—
—
—
Rauch Ents LLC
—
Deed Of Trust
related
$597,700 · Us Bank NA
—
—
Rauch Ents LLC
—
Loan Modification
related
$270,000 · Us 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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