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Property profile & analytics
OFF-MARKET
Estimated value
$1,410,000
Industrial properties
304 61st St, Minneapolis, MN 55419-2323
Individually Owned
11-yr Hold
~
Est. High Equity
Property ID
US46-0273837
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1955
Construction
CONCRETE
Total area
15,646 SF
Lot
0.99 ac (43,124 SF)
Zoning code
I2
APN
22-028-24-33-0013
UPID
US46-0273837
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
-
BSAW Metro Wide Towing Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.82M
Blend (final)
Blend
$1.41M
Owner & transaction history
Bobby & Steves Auto World-nic · 11 yrs held
Bobby & Steves Auto World-nic
since 2015
7 recorded transactions
Zoning & alternative use
I2 · 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
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
INDUSTRIAL (GENERAL)
$1,455,000
Current use
Blend value · Realmo final
$1.41M
Range $1.27M – $1.55M · ±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
$90 / 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
$52,089
Tax year 2023
Assessed value
$1,590,000
Assessed 2023
Previous assessed
$1,098,000
+44.8% YoY
Effective rate
3.28%
On assessed value
Assessed land
$302,800
Assessed improvement
$1,287,200
Land market value
$302,800
Improvement market value
$1,287,200
Total market value
$1,590,000
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
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1955
Construction
CONCRETE
Heating
HOT WATER
Stories
1
Total area
15,646 SF
Lot
0.99 ac (43,124 SF)
Zoning code
I2
APN
22-028-24-33-0013
UPID
US46-0273837
Jurisdiction
HENNEPIN
Zoning & alternative use
I2 · Minneapolis, MN
Zoning I2 · permitted uses
I2 · 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.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$1.5M
INDUSTRIAL (GENERAL) Current
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
1955
Construction
CONCRETE
Heating
HOT WATER
Stories
1
Lot
0.99 ac
Current owner
From public records · entity-resolved
Bobby & Steves Auto World-nic
Individual
Mailing address
5801 NICOLLET AVE, MINNEAPOLIS, MN 55419-2403
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 3, 2020
—
Bobby & Steves Auto World-nic
—
Deed
related
$452,453 · City & Cnty Emp Cu
Apr 15, 2015
—
Bobby & Steves Auto World-nic
Pauls Bobby
Quit Claim Deed
related
$4,000,000 · City & Cnty Emp Cu
Apr 14, 2009
$800,000
Robert A Williams
Dufour,david A & Patricia A
Warranty Deed
$430,000 · 21st Century Bank
Feb 8, 2008
$800,000
Robert A Williams
Dufour,david A
Warranty Deed
—
May 20, 1998
$45,500
David A Dufour
Dufour,mary S
Grant Deed
related
—
Feb 3, 1998
—
Richard W Dufour
Richard W Residuary Trust
Quit Claim Deed
related
—
Feb 3, 1998
$25,500
Dufour,david A
Dufour,richard W
Trustees Deed
related
—
—
—
Robert A Williams
—
Deed Of Trust
related
$215,000 · 21st Century Bank
—
—
Bobby & Steves Auto World-nic
—
Loan Modification
related
$452,453 · City & Cnty Emp Cu
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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