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Property profile & analytics
OFF-MARKET
Estimated value
$660,000
Warehouses
29531 Hillside Dr, Red Wing, MN 55066-5658
Entity Owned
Absentee Owner
Free & Clear
Property ID
US46-1414976
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1950
Total area
8,044 SF
Lot
28.11 ac (1,224,472 SF)
APN
43.136.0190
UPID
US46-1414976
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
-
Insurance Auto Auctions Inc (Sublot) Car Dealership
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$580k
Blend (final)
Blend
$660k
Owner & transaction history
Luce Street LLC
Luce Street LLC
since 2025
Last sale
$700,000
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$925,000
+70.0%
Office building
$820,000
+51.2%
Restaurant
$665,000
+22.6%
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 Red Wing submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Red Wing 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
WAREHOUSE, STORAGE
$545,000
Current use
MEDICAL BUILDING
$925,000
Change: +70% · Conversion: Difficult
OFFICE BUILDING
$820,000
Change: +51% · Conversion: Difficult
RESTAURANT
$665,000
Change: +23% · Conversion: Difficult
COMMERCIAL (GENERAL)
$560,000
Change: +4% · Conversion: Difficult
AUTO REPAIR, GARAGE
$555,000
Change: +2% · Conversion: Easy
Blend value · Realmo final
$660k
Range $594k – $726k · ±10% · vs last sale $700k (May 5 2025)
Last sale anchor
$700k
May 5 2025
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
$82 / 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
$7,238
Tax year 2023
Assessed value
$390,000
Assessed 2023
Previous assessed
$390,000
+0.0% YoY
Effective rate
1.86%
On assessed value
Assessed land
$237,600
Assessed improvement
$152,400
Land market value
$237,600
Improvement market value
$152,400
Total market value
$390,000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1950
Heating
NONE
Stories
1
Total area
8,044 SF
Lot
28.11 ac (1,224,472 SF)
APN
43.136.0190
UPID
US46-1414976
Jurisdiction
GOODHUE
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
WAREHOUSE, STORAGE Current
Est. value
$545,000
MEDICAL BUILDING
Est. value
$925,000
OFFICE BUILDING
Est. value
$820,000
RESTAURANT
Est. value
$665,000
COMMERCIAL (GENERAL)
Est. value
$560,000
AUTO REPAIR, GARAGE
Est. value
$555,000
WAREHOUSE, STORAGE Current
MEDICAL BUILDING
OFFICE BUILDING
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1950
Heating
NONE
Stories
1
Lot
28.11 ac
Current owner
From public records · entity-resolved
Luce Street LLC
Entity
Free & Clear · 0 yrs held
Mailing address
1617 HAY CRK VLY RD, RED WING, MN 55066-4924
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
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
Aug 5, 2025
$700,000
Luce Street LLC
Mark Schoenfelder
Warranty Deed
—
Jul 7, 2008
$260,000
Gadient Brothers Construction LLC
Michael P Kinyon
Warranty Deed
—
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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