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Property profile & analytics
OFF-MARKET
Parking lots & garages
2803 38th Stg14 Minneapolis, MN 55406-4414
Individually Owned
4-yr Hold
Property ID
US46-0647612
Property profile
Verified
Property type
Parking lots & garages
Use group
RESIDENTIAL PARKING GARAGE
Year built
2003
Lot
0.23 ac (9,988 SF)
Zoning code
C2
APN
12-028-24-11-0251
UPID
US46-0647612
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
-
Key West Bistro Restaurant
-
Powder Metal Technologies, LLC Metal Fabrication Plant Industrial Manufacturer
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
David P Potente · 4 yrs held
David P Potente
since 2021
Last sale
$170,000
4 recorded transactions
Zoning & alternative use
C2 · Minneapolis, MN
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 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$122
Tax year 2023
Assessed value
$9,400
Assessed 2023
Previous assessed
$9,400
+0.0% YoY
Effective rate
1.30%
On assessed value
Assessed land
$9,300
Assessed improvement
$100
Land market value
$9,300
Improvement market value
$100
Total market value
$9,400
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
Parking lots & garages
Use group
RESIDENTIAL PARKING GARAGE
Status
Off-Market
Year built
2003
Heating
NONE
Stories
1
Lot
0.23 ac (9,988 SF)
Zoning code
C2
APN
12-028-24-11-0251
UPID
US46-0647612
Jurisdiction
HENNEPIN
Zoning & alternative use
C2 · Minneapolis, MN
Zoning C2 · permitted uses
C2 · 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.
Building & site characteristics
From public records
Year built
2003
Heating
NONE
Stories
1
Lot
0.23 ac
Current owner
From public records · entity-resolved
David P Potente
Individual
Mailing address
198 SETTLEMENT VLG DR, SUNSET, SC 29685-1426
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 30, 2021
$175,200
David P Potente
Stephanie Vogt
Warranty Deed
$131,400 · Rocket Mortgage LLC
Apr 10, 2017
$145,100
Stephanie Vogt
Weber,robert R
Warranty Deed
related
$137,750 · Leaderone Fin'l
—
—
Francy L Scurato
—
Deed Of Trust
related
$30,544 · Us Bk
—
—
Robert R Weber
—
Deed Of Trust
related
$75,000 · Us Bank NA
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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