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Property profile & analytics
OFF-MARKET
Estimated value
$11,290,000
Industrial properties
230 61st St, Minneapolis, MN 55419-2322
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US46-0009253
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
2022
Construction
WOOD
Total area
130,600 SF
Lot
1.03 ac (44,867 SF)
Zoning code
I2
APN
22-028-24-34-0122
UPID
US46-0009253
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
$8.30M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$7.67M
Blend (final)
Blend
$11.29M
Owner & transaction history
C & J Investments LLC · 4 yrs held
C & J Investments LLC
since 2022
Last sale
$14.0M
7 recorded transactions
Zoning & alternative use
I2 · Minneapolis, MN
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 Minneapolis submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Minneapolis 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
$12,405,000
ML approach
$8,300,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$12,155,000
Current use
Blend value · Realmo final
$11.29M
Range $10.16M – $12.42M · ±10% · vs last sale $14.03M (Jan 19 2022)
Last sale anchor
$14.03M
Jan 19 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
$86 / 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
$82,726
Tax year 2023
Assessed value
$2,725,000
Assessed 2023
Previous assessed
$955,000
+185.3% YoY
Effective rate
3.04%
On assessed value
Assessed land
$325,000
Assessed improvement
$2,400,000
Land market value
$325,000
Improvement market value
$2,400,000
Total market value
$2,725,000
Applied tax rate
1.0000
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
2022
Construction
WOOD
Heating
FORCED AIR
Stories
1
Total area
130,600 SF
Lot
1.03 ac (44,867 SF)
Zoning code
I2
APN
22-028-24-34-0122
UPID
US46-0009253
Jurisdiction
HENNEPIN
Zoning & alternative use
I2 · Minneapolis, MN
Zoning I2 · permitted uses
I2 · Minneapolis, MN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Minneapolis. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$12.2M
INDUSTRIAL (GENERAL) Current
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
2022
Construction
WOOD
Heating
FORCED AIR
Stories
1
Lot
1.03 ac
Current owner
From public records · entity-resolved
C & J Investments LLC
Entity
Mailing address
PO BOX 71870, SALT LAKE CITY, UT 84171-0870
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 24, 2022
—
C & J Investments LLC
—
Deed
related
$3,000,000 · Choice Financial Group
Jan 19, 2022
$1,399,000
C & J Investments LLC
Haag Commercial Properties LLC
Warranty Deed
—
Aug 27, 2010
$500
Haag Commercial Properties LLC
Business Bk
Quit Claim Deed
related
—
Jun 16, 2010
—
Haag Commercial Properties LLC
Haag,glynn R & Dianne D
Quit Claim Deed
related
—
Apr 25, 2007
$925,000
Glynn Haag
Empire Builder Investments INC
Warranty Deed
—
Mar 14, 2005
$740,000
Progressive Rail INC
Lonneman,jon F & Sandra J
Warranty Deed
—
Aug 8, 2000
$284,400
Jon F Lonneman
Webster,henry & Julie
Grant Deed
$254,400 · Seller
—
—
Haag Commercial Properties LLC
—
Deed Of Trust
related
$660,000 · Us Bank NA
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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