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Property profile & analytics
OFF-MARKET
Estimated value
$575,000
Retail residential properties
2289 Frd Pkwy Saint Paul, MN 55116-1818
Entity Owned
14-yr Hold
~
Est. High Equity
Property ID
US46-1067901
Property profile
Verified
Property type
Retail residential properties
Use group
STORES & APARTMENTS
Year built
1963
Total area
5,002 SF
Lot
0.14 ac (5,881 SF)
APN
17-28-23-12-0077
UPID
US46-1067901
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$483k
Blend (final)
Blend
$575k
Owner & transaction history
River Spirits LLC · 14 yrs held
River Spirits LLC
since 2012
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$840,000
+121.6%
Medical building
$735,000
+94.6%
Warehouse, storage
$575,000
+52.2%
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 Saint Paul submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Saint Paul 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$380,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$840,000
Change: +122% · Conversion: Difficult
MEDICAL BUILDING
$735,000
Change: +95% · Conversion: Easy
WAREHOUSE, STORAGE
$575,000
Change: +52% · Conversion: Difficult
OFFICE BUILDING
$550,000
Change: +45% · Conversion: Easy
RETAIL STORES
$510,000
Change: +35% · Conversion: Easy
Blend value · Realmo final
$575k
Range $518k – $633k · ±10%
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
$115 / 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
$24,460
Tax year 2023
Assessed value
$802,100
Assessed 2023
Previous assessed
$700,300
+14.5% YoY
Effective rate
3.05%
On assessed value
Assessed land
$117,900
Assessed improvement
$684,200
Land market value
$117,900
Improvement market value
$684,200
Total market value
$802,100
Applied tax rate
625.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
1963
Heating
NONE
Cooling
NONE
Total area
5,002 SF
Lot
0.14 ac (5,881 SF)
APN
17-28-23-12-0077
UPID
US46-1067901
Jurisdiction
RAMSEY
Zoning & alternative use
Zoning · permitted uses
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
COMMERCIAL (GENERAL) Current
Est. value
$380,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$840,000
MEDICAL BUILDING
Est. value
$735,000
WAREHOUSE, STORAGE
Est. value
$575,000
OFFICE BUILDING
Est. value
$550,000
RETAIL STORES
Est. value
$510,000
COMMERCIAL (GENERAL) Current
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
WAREHOUSE, STORAGE
OFFICE BUILDING
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
1963
Heating
NONE
Cooling
Yes
Lot
0.14 ac
Current owner
From public records · entity-resolved
River Spirits LLC
Entity
Mailing address
2289 FRD PKWY, SAINT PAUL, MN 55116-1818
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2012
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
Jun 29, 2012
$4,450
River Spirits LLC
Liquor Village INC
Warranty Deed
related
$865,000 · Bankcherokee
Jul 27, 2009
—
Liquor Village INC
—
Trustees Deed
related
$20,000 · Bankcherokee
Jun 30, 2008
—
Liquor Village INC
—
Trustees Deed
related
$20,000 · Bankcherokee
—
—
Liquor Village INC
—
Deed Of Trust
related
$282,000 · Bankcherokee
—
—
Liquor Village INC
—
Deed Of Trust
related
$20,000 · Bankcherokee
—
—
Liquor Village INC
—
Deed Of Trust
related
$183,000 · Cherokee State Bank
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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