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Property profile & analytics
OFF-MARKET
Estimated value
$1,335,000
Industrial properties
2508 24th S Ave, Minneapolis, MN 55406-1219
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US46-0122504
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1968
Construction
CONCRETE
Total area
8,990 SF
Lot
0.35 ac (15,246 SF)
Zoning code
I2
APN
36-029-24-24-0005
UPID
US46-0122504
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
Current use
Occupant on record · Public records
-
Kokoon Clothing & Fashion Store
-
FC FURNITURE WAREHOUSE Home Decor Store Department Store
-
Hayes Window Restoration Construction Company General Contractor
-
Qaaf Center Community Center
-
Douglas Corp Hardware & Home Improvement Home Appliance Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.34M
CAP Approach
CAP
$1.77M
Comparable Approach
Comparable
$1.23M
Blend (final)
Blend
$1.34M
Owner & transaction history
2508 24th Avenue South LLC · 2 yrs held
2508 24th Avenue South LLC
since 2024
Last sale
$1.3M
3 recorded transactions
Zoning & alternative use
I2 · Minneapolis, MN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.3M
+54.9%
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
$1,335,000
ML approach
$1,335,000
CAP Approach
CAP Return
Estimation
6%
$1,915,000
6.5%
$1,770,000
7%
$1,645,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$835,000
Current use
COMMERCIAL (GENERAL)
$1,295,000
Change: +55% · Conversion: Difficult
Blend value · Realmo final
$1.34M
Range $1.20M – $1.47M · ±10% · vs last sale $1.34M (May 31 2024)
Last sale anchor
$1.34M
May 31 2024
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
$148 / 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
$49,395
Tax year 2023
Assessed value
$1,050,000
Assessed 2023
Previous assessed
$1,050,000
+0.0% YoY
Effective rate
4.70%
On assessed value
Assessed land
$136,000
Assessed improvement
$914,000
Land market value
$136,000
Improvement market value
$914,000
Total market value
$1,050,000
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
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1968
Construction
CONCRETE
Heating
HOT WATER
Cooling
YES
Stories
1
Total area
8,990 SF
Lot
0.35 ac (15,246 SF)
Zoning code
I2
APN
36-029-24-24-0005
UPID
US46-0122504
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
$835,000
COMMERCIAL (GENERAL)
Est. value
$1.3M
INDUSTRIAL (GENERAL) Current
COMMERCIAL (GENERAL)
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
1968
Construction
CONCRETE
Heating
HOT WATER
Cooling
Yes
Stories
1
Lot
0.35 ac
Current owner
From public records · entity-resolved
2508 24th Avenue South LLC
Entity
Mailing address
4730 NOKOMIS AVE, MINNEAPOLIS, MN 55406-3752
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 31, 2024
$1,335,000
2508 24th Avenue South LLC
Clement LLC
Warranty Deed
$1,247,600 · Old National Bank
Jan 14, 2022
$975,000
Clement LLC
Sbtg & Company LLC
Warranty Deed
$780,000 · Community Resource Bank NA
Dec 4, 2008
$475,000
Sbtg & Co LLC
2520 Lyndale
Warranty Deed
$511,000 · Wells Fargo 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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