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Property profile & analytics
OFF-MARKET
Estimated value
$655,000
Apartment buildings
2207 6th St White Bear Lake, MN 55110-2808
Entity Owned
5-yr Hold
Property ID
US46-0085064
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1969
Construction
WOOD FRAME
Total area
9,768 SF
Lot
0.18 ac (7,754 SF)
Zoning code
C
APN
14-30-22-14-0044
UPID
US46-0085064
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
$660k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$547k
Blend (final)
Blend
$655k
Owner & transaction history
Manitou Apartments LLC · 5 yrs held
Manitou Apartments LLC
since 2020
Last sale
$675,000
6 recorded transactions
Zoning & alternative use
C · White Bear Lake, MN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.0M
+11.2%
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 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
$605,000
ML approach
$660,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$900,000
Current use
RETAIL STORES
$1,000,000
Change: +11% · Conversion: Difficult
Blend value · Realmo final
$655k
Range $590k – $721k · ±10% · vs last sale $675k (Dec 17 2020)
Last sale anchor
$675k
Dec 17 2020
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
$67 / 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
$12,668
Tax year 2023
Assessed value
$751,300
Assessed 2023
Previous assessed
$751,300
+0.0% YoY
Effective rate
1.69%
On assessed value
Assessed land
$160,000
Assessed improvement
$591,300
Land market value
$160,000
Improvement market value
$591,300
Total market value
$751,300
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1969
Construction
WOOD FRAME
Heating
NONE
Cooling
NONE
Units
8
Total area
9,768 SF
Lot
0.18 ac (7,754 SF)
Zoning code
C
APN
14-30-22-14-0044
UPID
US46-0085064
Jurisdiction
RAMSEY
Zoning & alternative use
C · White Bear Lake, MN
Zoning C · permitted uses
C · 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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$900,000
RETAIL STORES
Est. value
$1.0M
APARTMENT HOUSE (5+ UNITS) Current
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
1969
Construction
WOOD FRAME
Heating
NONE
Cooling
Yes
Units
8
Lot
0.18 ac
Current owner
From public records · entity-resolved
Manitou Apartments LLC
Entity
Mailing address
12697 177TH ST N, MARINE ON SAINT CROIX, MN 55047-9760
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 17, 2020
$500
Manitou Apartments LLC
Manitou Apartments INC
Warranty Deed
related
—
May 4, 1999
$675,000
Manitou Apartments INC
Benson,joseph D &martha W
Grant Deed
$730,000 · Liberty State Bank
—
—
Manitou Apartments LLC
—
Deed Of Trust
related
$650,000 · Security St Bk/marine
—
—
Manitou Apartments INC
—
Deed Of Trust
related
$4,785 · Environment & Energy Resource
—
—
Manitgu Apartments LLC
—
Loan Modification
related
$650,000 · Security St Bk/marine
—
—
Manitou Apartments LLC
—
Loan Modification
related
$775,000 · Security St Bk/marine
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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