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Property profile & analytics
OFF-MARKET
Estimated value
$650,000
Retail space
312 5th N Ave, Bayport, MN 55003-1201
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US46-0353070
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1925
Total area
3,112 SF
Lot
0.1 ac (4,360 SF)
APN
02-029-20-33-0048
UPID
US46-0353070
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$735k
CAP Approach
CAP
$560k
Comparable Approach
Comparable
$513k
Blend (final)
Blend
$650k
Owner & transaction history
Teel Management LLC · 1 yrs held
Teel Management LLC
since 2024
Last sale
$650,000
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$555,000
+1.9%
Commercial (general)
$550,000
+1.0%
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 Bayport submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bayport 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
$785,000
ML approach
$735,000
CAP Approach
CAP Return
Estimation
6%
$610,000
6.5%
$560,000
7%
$520,000
Alternative Use
Use
Estimation
RETAIL STORES
$545,000
Current use
WAREHOUSE, STORAGE
$555,000
Change: +2% · Conversion: Difficult
COMMERCIAL (GENERAL)
$550,000
Change: +1% · Conversion: Easy
OFFICE BUILDING
$470,000
Change: -13% · Conversion: Easy
Blend value · Realmo final
$650k
Range $585k – $715k · ±10% · vs last sale $650k (Jun 24 2024)
Last sale anchor
$650k
Jun 24 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
$209 / 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
$7,314
Tax year 2023
Assessed value
$350,100
Assessed 2022
Previous assessed
$350,100
+0.0% YoY
Effective rate
2.09%
On assessed value
Assessed land
$95,900
Assessed improvement
$254,200
Land market value
$95,900
Improvement market value
$254,200
Total market value
$350,100
Applied tax rate
1,301.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1925
Heating
NONE
Buildings
1
Total area
3,112 SF
Lot
0.1 ac (4,360 SF)
APN
02-029-20-33-0048
UPID
US46-0353070
Jurisdiction
WASHINGTON
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
$545,000
WAREHOUSE, STORAGE
Est. value
$555,000
COMMERCIAL (GENERAL)
Est. value
$550,000
OFFICE BUILDING
Est. value
$470,000
RETAIL STORES Current
WAREHOUSE, STORAGE
COMMERCIAL (GENERAL)
OFFICE BUILDING
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
1925
Heating
NONE
Buildings
1
Lot
0.1 ac
Current owner
From public records · entity-resolved
Teel Management LLC
Entity
Mailing address
312 5TH AVE N, BAYPORT, MN 55003-1201
Mailing matches property
Yes
Owner-occupied
Yes
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 24, 2024
$650,000
Teel Management LLC
Tm Serenity Properties LLC
Deed
$600,000 · Tm Serenily Properties LLC
Mar 27, 2023
$600,000
Tm Serenity Properties LLC
Marlene M Kearns
Warranty Deed
$450,000 · Drake Bank
Nov 9, 2009
$158,750
Max J Kearns
Nelson,douglas L & Pamela J
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.
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