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Property profile & analytics
FOR SALE
Retail residential properties
235-257 Belgrade Ave North Mankato, MN 56003
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US46-2029062
For Sale
1 / 22
$2,600,000
235-257 Belgrade Ave, North Mankato, MN 56003
View Listing →
Property profile
Verified
Property type
Retail residential properties
Use group
STORES & APARTMENTS
Year built
1896
Total area
2,500 SF
Lot
0.18 ac (7,759 SF)
APN
18.802.0130
UPID
US46-2029062
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
$2.29M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.33M
Owner & transaction history
Ah Hermel Properties LLC · 3 yrs held
Ah Hermel Properties LLC
since 2023
Last sale
$2.4M
6 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 North Mankato submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs North Mankato 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
$2,215,000
ML approach
$2,285,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.33M
Range $2.09M – $2.56M · ±10% · vs last sale $2.40M (Jul 14 2023)
Last sale anchor
$2.40M
Jul 14 2023
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
$930 / 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
$3,916
Tax year 2023
Assessed value
$1,944,500
Assessed 2023
Previous assessed
$1,944,500
+0.0% YoY
Effective rate
0.20%
On assessed value
Assessed land
$90,200
Assessed improvement
$1,854,300
Land market value
$90,200
Improvement market value
$1,854,300
Total market value
$1,944,500
Applied tax rate
77.0000
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
Retail residential properties
Use group
STORES & APARTMENTS
Status
For Sale
Year built
1896
Buildings
2
Stories
2
Total area
2,500 SF
Lot
0.18 ac (7,759 SF)
APN
18.802.0130
UPID
US46-2029062
Jurisdiction
NICOLLET
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
1896
Stories
2
Buildings
2
Lot
0.18 ac
Current owner
From public records · entity-resolved
Ah Hermel Properties LLC
Entity
Mailing address
46900 CPE HORN RD, CLEVELAND, MN 56017-4554
Ownership since
2023
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
Jul 18, 2023
—
Ah Hermel Properties LLC
—
Deed
related
$480,000 · 230 Nicollet Ave LLC
Jul 14, 2023
$2,400,000
Ah Hermel Properties LLC
Ww Land Co LLC
Warranty Deed
$1,920,000 · Community Bank Mankato
Jul 14, 2023
—
Ah Hermel Properties LLC
—
Deed
related
$506,000 · Ww Land Co LLC
Oct 19, 2021
—
Ww Land Co LLC
—
Deed
related
$1,000,000 · Community Bank Mankato
May 26, 2020
$400,000
Ww Land Co LLC
Demars Properties LLC
Warranty Deed
$316,000 · Community Bank Of Mankato
May 1, 2012
$190,000
William J Lee
Skillings Properties LLC
Warranty Deed
$240,000 · Wells Federal Bank Fsb
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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