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Property profile & analytics
FOR LEASE
Strip malls
2303 White Bear Ave, Maplewood, MN 55109
Entity Owned
12-yr Hold
~
Est. High Equity
Property ID
US46-0842740
For Lease
$1,880,000
2303 White Bear Ave, Maplewood, MN 55109
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2000
Total area
16,728 SF
Lot
1.97 ac (85,813 SF)
Zoning code
G
APN
11-29-22-32-0007
UPID
US46-0842740
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
$2.28M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.88M
Owner & transaction history
Armenco LLC · 12 yrs held
Armenco LLC
since 2014
7 recorded transactions
Zoning & alternative use
G · Maplewood, 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 Maplewood submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Maplewood 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%
$2,460,000
6.5%
$2,275,000
7%
$2,110,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$2,805,000
Current use
MEDICAL BUILDING
$2,465,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$1.88M
Range $1.69M – $2.07M · ±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
$112 / 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
$168,894
Tax year 2023
Assessed value
$4,500,000
Assessed 2023
Previous assessed
$4,754,500
-5.4% YoY
Effective rate
3.75%
On assessed value
Assessed land
$858,100
Assessed improvement
$3,641,900
Land market value
$858,100
Improvement market value
$3,641,900
Total market value
$4,500,000
Applied tax rate
622.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
2000
Heating
STEAM
Buildings
2
Total area
16,728 SF
Lot
1.97 ac (85,813 SF)
Zoning code
G
APN
11-29-22-32-0007
UPID
US46-0842740
Jurisdiction
RAMSEY
Zoning & alternative use
G · Maplewood, MN
Zoning G · permitted uses
G · Maplewood, MN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Maplewood. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$2.8M
MEDICAL BUILDING
Est. value
$2.5M
NEIGHBORHOOD: SHOPPING CENTER Current
MEDICAL BUILDING
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
2000
Heating
STEAM
Buildings
2
Lot
1.97 ac
Current owner
From public records · entity-resolved
Armenco LLC
Entity
Mailing address
7808 CREEKRIDGE CIR STE #101, MINNEAPOLIS, MN 55439-2611
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 16, 2016
—
Armenco LLC
—
Deed
related
$3,500,000 · Wings Financial Cu
Jan 14, 2014
$4,060,000
Armenco LLC
Maplewood Corner Plaza LLC
Warranty Deed
$3,248,000 · Royal Cu
Nov 26, 2012
$32,250
Maplewood Corner Plaza LLC
Metropolitan Coml Props LLC
Grant Deed
related
$2,580,000 · Thrivent Financial Bank
Mar 6, 2002
$3,400,000
Metropolitan Commercial Proper
Reliance Dev Co LLP
Grant Deed
$2,645,000 · St Francis Bank Fsb
Oct 23, 2001
$3,400,000
Metropolitan Commercial Proper
Reliance Devevlopment Co LLP
Grant Deed
$2,645,000 · St Francis Bank Fsb
May 23, 2000
$810,000
Reliance Dev Co
Wong,albert & May
Trustees Deed
$2,484,000 · Bnc National Bank
May 23, 2000
$750,000
Wong,albert & May
Chan,ping & Shau K
Trustees Deed
—
—
—
Armenco LLC
—
Deed Of Trust
related
$3,500,000 · Wings Fin'l FCU
—
—
Metropolitan Coml Props LLC
—
Deed Of Trust
related
$2,750,000 · Western 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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