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Property profile & analytics
OFF-MARKET
Estimated value
$2,205,000
Commercial real estate
224 Main St, Melrose, MN 56352-1162
Entity Owned
4-yr Hold
Free & Clear
Property ID
US46-1478419
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
2003
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
10,400 SF
Lot
0.38 ac (16,585 SF)
APN
66.37009.0710
UPID
US46-1478419
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
-
Torborg Electric Inc Electrical Service General Contractor
-
Arvig Telecommunications Service Data Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.12M
CAP Approach
CAP
$1.62M
Comparable Approach
Comparable
$2.30M
Blend (final)
Blend
$2.21M
Owner & transaction history
Arvig Ent INC · 4 yrs held
Arvig Ent INC
since 2022
Last sale
$2.3M
2 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 Melrose submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Melrose 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
$2,100,000
ML approach
$2,120,000
CAP Approach
CAP Return
Estimation
6%
$1,755,000
6.5%
$1,620,000
7%
$1,505,000
Blend value · Realmo final
$2.21M
Range $1.98M – $2.43M · ±10% · vs last sale $2.25M (Feb 10 2022)
Last sale anchor
$2.25M
Feb 10 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
$212 / 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
$60,040
Tax year 2023
Assessed value
$2,211,500
Assessed 2023
Previous assessed
$2,185,400
+1.2% YoY
Effective rate
2.71%
On assessed value
Assessed land
$87,100
Assessed improvement
$2,124,400
Land market value
$87,100
Improvement market value
$2,124,400
Total market value
$2,211,500
Applied tax rate
740.0000
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
2003
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
2
Bathrooms
4
Total area
10,400 SF
Lot
0.38 ac (16,585 SF)
APN
66.37009.0710
UPID
US46-1478419
Jurisdiction
STEARNS
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
2003
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
2
Bathrooms
4
Lot
0.38 ac
Current owner
From public records · entity-resolved
Arvig Ent INC
Entity
Free & Clear · 4 yrs held
Mailing address
150 2ND ST SW, PERHAM, MN 56573-1461
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 10, 2022
$2,250,000
Arvig Ent INC
Blue Coyote LP
Warranty Deed
—
Dec 30, 2010
$2,250,000
Arvig Enterprises INC
Blue Cayote Limited Partnership
Other
—
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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