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Property profile & analytics
OFF-MARKET
Estimated value
$1,390,000
Warehouses
2800 1st NW Ave, Faribault, MN 55021-1909
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US46-1495626
Property summary
AI-generated overview
This single-story, 15,660-square-foot industrial warehouse building in Faribault, Minnesota, offers flexible space options. Located at 2800 1st Ave NW, near the intersection of 1st Avenue NW and 27th Street NW, this Class B property boasts 1 acre of land and is conveniently situated just off Highway 3 and County Road 76, within one mile of Highway 35W. Built in 1990 and renovated in 2005, the building features a 12-foot ceiling height and eight drive-in doors, each measuring 9x11 feet. The property is zoned for Business Commercial use (APN: 18.19.1.51.002, Rice County) and is currently entirely vacant, allowing for immediate occupancy. Space is divisible to a minimum of 1,000 square feet, with a maximum contiguous space of 15,660 square feet. The building previously housed a 10,000-square-foot charter school and includes office and warehouse space with a mezzanine. Two parking stalls are included. This multi-tenant property presents a great opportunity for a variety of businesses seeking flexible and well-located industrial space in Faribault.
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1990
Total area
5,580 SF
Lot
2.1 ac (91,476 SF)
APN
18.19.1.51.002
UPID
US46-1495626
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
-
USDA Service Center - Rice County Federal Government Office
-
Dynamic Electric Electrical Service General Contractor
-
S.T.E.P. Cannon Valley School High School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.39M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.94M
Blend (final)
Blend
$1.39M
Owner & transaction history
Jab Equities LLC · 2 yrs held
Jab Equities LLC
since 2024
Last sale
$1.4M
1 recorded transaction
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 Faribault submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Faribault 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
$1,390,000
ML approach
$1,390,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.39M
Range $1.25M – $1.53M · ±10% · vs last sale $1.39M (Jan 19 2024)
Last sale anchor
$1.39M
Jan 19 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
$249 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$19,450
Tax year 2024
Assessed value
$763,300
Assessed 2024
Previous assessed
$763,300
+0.0% YoY
Effective rate
2.55%
On assessed value
Assessed land
$91,500
Assessed improvement
$671,800
Land market value
$91,500
Improvement market value
$671,800
Total market value
$763,300
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1990
Heating
NONE
Buildings
4
Stories
1
Total area
5,580 SF
Lot
2.1 ac (91,476 SF)
APN
18.19.1.51.002
UPID
US46-1495626
Jurisdiction
RICE
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
1990
Heating
NONE
Stories
1
Buildings
4
Lot
2.1 ac
Current owner
From public records · entity-resolved
Jab Equities LLC
Entity
Mailing address
PO BOX 68073, MINNEAPOLIS, MN 55418-8073
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 19, 2024
$1,391,500
Jab Equities LLC
T Nelson Properties LLC
Warranty Deed
$1,299,625 · Crown 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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