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Property profile & analytics
OFF-MARKET
Estimated value
$515,000
Office buildings
2617 Duluth St Maplewood, MN 55109-5507
Individually Owned
12-yr Hold
Absentee Owner
Free & Clear
Property ID
US46-1125108
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1989
Construction
WOOD FRAME
Total area
4,248 SF
Lot
0.98 ac (42,732 SF)
APN
09-29-22-11-0113
UPID
US46-1125108
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
$570k
Blend (final)
Blend
$515k
Owner & transaction history
Quang T Hong · 12 yrs held
Quang T Hong
since 2014
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$715,000
+53.3%
Medical building
$625,000
+34.6%
Warehouse, storage
$490,000
+5.2%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$465,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$715,000
Change: +53% · Conversion: Difficult
MEDICAL BUILDING
$625,000
Change: +35% · Conversion: Easy
WAREHOUSE, STORAGE
$490,000
Change: +5% · Conversion: Difficult
RETAIL STORES
$435,000
Change: -7% · Conversion: Moderate
Blend value · Realmo final
$515k
Range $464k – $567k · ±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
$121 / 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
$16,154
Tax year 2023
Assessed value
$716,000
Assessed 2023
Previous assessed
$537,600
+33.2% YoY
Effective rate
2.26%
On assessed value
Assessed land
$256,500
Assessed improvement
$459,500
Land market value
$256,500
Improvement market value
$459,500
Total market value
$716,000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1989
Construction
WOOD FRAME
Heating
STEAM
Buildings
3
Total area
4,248 SF
Lot
0.98 ac (42,732 SF)
APN
09-29-22-11-0113
UPID
US46-1125108
Jurisdiction
RAMSEY
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$465,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$715,000
MEDICAL BUILDING
Est. value
$625,000
WAREHOUSE, STORAGE
Est. value
$490,000
RETAIL STORES
Est. value
$435,000
OFFICE BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
WAREHOUSE, STORAGE
RETAIL STORES
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
1989
Construction
WOOD FRAME
Heating
STEAM
Buildings
3
Lot
0.98 ac
Current owner
From public records · entity-resolved
Quang T Hong
Individual
Free & Clear · 12 yrs held
Mailing address
855 VLG CTR DR #382, SAINT PAUL, MN 55127-3016
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 25, 2014
—
Hong,quang T & Natasha R
—
Trustees Deed
related
$245,000 · Lake Elmo Bk
Jun 27, 2014
$235,000
Quang T Hong
Psb Credit Services INC
Grant Deed
—
Jun 19, 2013
$250,000
Psb Credit Services INC
Sheriff Of Ramsey County
Trustees Deed
related
—
—
—
Quang T Hong
—
Deed Of Trust
related
$422,400 · Us Bk
—
—
Eric F Sampson
—
Deed Of Trust
related
$320,000 · Us Bank NA
—
—
Eric F Sampson
—
Deed Of Trust
related
$435,000 · Wells Fargo Bank
—
—
Eric F Sampson
—
Deed Of Trust
related
$81,000 · Gary & Mavis Melstrom
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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