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Property profile & analytics
OFF-MARKET
Estimated value
$7,460,000
Apartment buildings
2504 Silver NE Ln Minneapolis, MN 55421-3474
Entity Owned
9-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US46-1106522
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
1971
Construction
WOOD FRAME
Total area
75,672 SF
Lot
9.61 ac (418,612 SF)
Zoning code
D
APN
31-30-23-32-0012
UPID
US46-1106522
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
$9.75M
Blend (final)
Blend
$7.46M
Owner & transaction history
L & L Equinox Associates LLC · 9 yrs held
L & L Equinox Associates LLC
since 2017
5 recorded transactions
Zoning & alternative use
D · Minneapolis, MN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$11.2M
+57.3%
Office building
$7.7M
+8.1%
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
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
APARTMENT HOUSE (5+ UNITS)
$7,090,000
Current use
MEDICAL BUILDING
$11,150,000
Change: +57% · Conversion: Moderate
OFFICE BUILDING
$7,665,000
Change: +8% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$7,045,000
Change: -1% · Conversion: Difficult
WAREHOUSE, STORAGE
$6,060,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$7.46M
Range $6.71M – $8.21M · ±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
$99 / 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
$376,732
Tax year 2023
Assessed value
$18,618,300
Assessed 2023
Previous assessed
$18,618,300
+0.0% YoY
Effective rate
2.02%
On assessed value
Assessed land
$2,720,000
Assessed improvement
$15,898,300
Land market value
$2,720,000
Improvement market value
$15,898,300
Total market value
$18,618,300
Applied tax rate
282.0000
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
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Status
Off-Market
Year built
1971
Construction
WOOD FRAME
Heating
YES
Buildings
3
Units
24
Total area
75,672 SF
Lot
9.61 ac (418,612 SF)
Zoning code
D
APN
31-30-23-32-0012
UPID
US46-1106522
Jurisdiction
RAMSEY
Zoning & alternative use
D · Minneapolis, MN
Zoning D · permitted uses
D · 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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$7.1M
MEDICAL BUILDING
Est. value
$11.2M
OFFICE BUILDING
Est. value
$7.7M
INDUSTRIAL (GENERAL)
Est. value
$7.0M
WAREHOUSE, STORAGE
Est. value
$6.1M
APARTMENT HOUSE (5+ UNITS) Current
MEDICAL BUILDING
OFFICE BUILDING
INDUSTRIAL (GENERAL)
WAREHOUSE, STORAGE
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
1971
Construction
WOOD FRAME
Heating
YES
Buildings
3
Units
24
Lot
9.61 ac
Current owner
From public records · entity-resolved
L & L Equinox Associates LLC
Entity
Mailing address
575 5TH AVE FL #38, NEW YORK, NY 10017-2422
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 13, 2020
—
L & L Equinox Associates LLC
—
Deed
related
$26,725,000 · Berkadia Com'l Mtg
Jun 20, 2017
$31,200,000
L & L Equinox Associates LLC
Equinox Properties LLC
Trustees Deed
related
$24,500,000 · Bank Of America
Jul 2, 1999
—
Equinox Properties LLC
Equinox Properties
Quit Claim Deed
related
—
—
—
L & L Equinox Associates LLC
—
Deed Of Trust
related
$26,725,000 · Berkadia Com'l Mtg
—
—
Gateway Investors Ltd
—
Deed Of Trust
related
$31,000,000 · Jackson National Life Ins Co
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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