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Property profile & analytics
OFF-MARKET
Estimated value
$520,000
Showrooms
2651 Industrial Ct Hastings, MN 55033-3900
Entity Owned
14-yr Hold
Free & Clear
Property ID
US46-0438451
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1979
Construction
STEEL FRAME
Total area
5,000 SF
Lot
0.93 ac (40,511 SF)
APN
19-90580-00-030
UPID
US46-0438451
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
$481k
Blend (final)
Blend
$520k
Owner & transaction history
Akins LLC · 14 yrs held
Akins LLC
since 2011
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$855,000
+105.4%
Warehouse, storage
$760,000
+83.3%
Retail stores
$715,000
+71.5%
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 Hastings submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hastings 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
COMMERCIAL (GENERAL)
$415,000
Current use
AUTO REPAIR, GARAGE
$855,000
Change: +105% · Conversion: Difficult
WAREHOUSE, STORAGE
$760,000
Change: +83% · Conversion: Difficult
RETAIL STORES
$715,000
Change: +72% · Conversion: Easy
OFFICE BUILDING
$605,000
Change: +46% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$425,000
Change: +3% · Conversion: Moderate
Blend value · Realmo final
$520k
Range $468k – $572k · ±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
$104 / 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
$10,434
Tax year 2023
Assessed value
$348,300
Assessed 2022
Previous assessed
$320,200
+8.8% YoY
Effective rate
3.00%
On assessed value
Assessed land
$81,200
Assessed improvement
$267,100
Land market value
$81,200
Improvement market value
$267,100
Total market value
$348,300
Applied tax rate
19.0000
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
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
Off-Market
Year built
1979
Construction
STEEL FRAME
Heating
NONE
Bathrooms
2
Total area
5,000 SF
Lot
0.93 ac (40,511 SF)
APN
19-90580-00-030
UPID
US46-0438451
Jurisdiction
DAKOTA
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
COMMERCIAL (GENERAL) Current
Est. value
$415,000
AUTO REPAIR, GARAGE
Est. value
$855,000
WAREHOUSE, STORAGE
Est. value
$760,000
RETAIL STORES
Est. value
$715,000
OFFICE BUILDING
Est. value
$605,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$425,000
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
RETAIL STORES
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
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
1979
Construction
STEEL FRAME
Heating
NONE
Bathrooms
2
Lot
0.93 ac
Current owner
From public records · entity-resolved
Akins LLC
Entity
Free & Clear · 14 yrs held
Mailing address
PO BOX 216, HASTINGS, MN 55033-0216
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 27, 2011
$260,000
Akins LLC
Thorkelson,roger L
Warranty Deed
—
—
—
Roger Thorkelson
—
Deed Of Trust
related
$220,632 · Vermillion State 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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