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Property profile & analytics
OFF-MARKET
Estimated value
$2,695,000
Grocery and convenience stores
310 Lakeshore Dr Lake City, MN 55041-1759
Individually Owned
Free & Clear
Property ID
US46-2994098
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1990
Total area
25,420 SF
Lot
1.72 ac (74,923 SF)
APN
R22.00399.00
UPID
US46-2994098
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
-
Ameri Gas Propane Supplier Gas Company
-
Mosaic Ford Lake City Car Dealership Auto Repair Shop
-
Lake City Fresh Market Grocery & Convenience Store Food Market
-
Tom Heffernan Ford Inc. Car Dealership Auto Repair Shop
-
Electric Circuit Charging Station Electric Vehicle Charging Station
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.26M
Blend (final)
Blend
$2.70M
Owner & transaction history
Thomas F & Mane A Heffeman Living T
Thomas F & Mane A Heffeman Living T
since 2026
5 recorded transactions
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 Lake City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lake City 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
RETAIL STORES
$3,470,000
Current use
COMMERCIAL (GENERAL)
$2,815,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$2.70M
Range $2.43M – $2.96M · ±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
$106 / 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
$37,640
Tax year 2024
Assessed value
$1,318,300
Assessed 2024
Previous assessed
$1,318,300
+0.0% YoY
Effective rate
2.86%
On assessed value
Assessed land
$517,100
Assessed improvement
$801,200
Land market value
$517,100
Improvement market value
$801,200
Total market value
$1,318,300
Applied tax rate
2,201.0000
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1990
Heating
FORCED AIR
Cooling
REFRIGERATOR
Stories
1
Total area
25,420 SF
Lot
1.72 ac (74,923 SF)
APN
R22.00399.00
UPID
US46-2994098
Jurisdiction
WABASHA
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
RETAIL STORES Current
Est. value
$3.5M
COMMERCIAL (GENERAL)
Est. value
$2.8M
RETAIL STORES Current
COMMERCIAL (GENERAL)
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
1990
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
1.72 ac
Current owner
From public records · entity-resolved
Thomas F & Mane A Heffeman Living T
Individual
Free & Clear · 0 yrs held
Mailing address
310 S LAKESHORE DR, LAKE CITY, MN 55041-1759
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 9, 2026
$1,155,898
Thomas F & Mane A Heffeman Living T
Lc Properties LLC
Deed
—
Aug 5, 2024
—
Lc Properties LLC
Thomas E Marie A Heffeman Living Tr
Deed
—
Oct 13, 2020
—
Teal & Nyberg Properties LLC
—
Deed
related
$150,000 · Alliance Bank
Oct 12, 2020
—
Teal & Nyberg Properties LLC
—
Deed
related
$700,000 · Alliance Bank
Jan 18, 2017
—
Teal&nyberg Properties LLC
—
Deed
related
$1,168,000 · Central Minnesota 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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