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Property profile & analytics
OFF-MARKET
Estimated value
$790,000
Manufacturing properties
3628 Connelly Ave, Arden Hills, MN 55112-6901
Entity Owned
Absentee Owner
Free & Clear
Property ID
US46-0586777
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1959
Total area
11,266 SF
Lot
0.5 ac (21,780 SF)
Zoning code
D
APN
27-30-23-43-0006
UPID
US46-0586777
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$795k
Blend (final)
Blend
$790k
Owner & transaction history
Gard Properties LLC
Gard Properties LLC
since 2026
6 recorded transactions
Zoning & alternative use
D · Arden Hills, MN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$1.3M
+70.3%
Office building
$1.2M
+61.9%
Retail stores
$1.2M
+51.1%
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 Arden Hills submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Arden Hills 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)
$760,000
Current use
WAREHOUSE, STORAGE
$1,300,000
Change: +70% · Conversion: Easy
OFFICE BUILDING
$1,235,000
Change: +62% · Conversion: Difficult
RETAIL STORES
$1,150,000
Change: +51% · Conversion: Moderate
Blend value · Realmo final
$790k
Range $711k – $869k · ±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
$70 / 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
$17,504
Tax year 2023
Assessed value
$838,700
Assessed 2023
Previous assessed
$632,200
+32.7% YoY
Effective rate
2.09%
On assessed value
Assessed land
$217,800
Assessed improvement
$620,900
Land market value
$217,800
Improvement market value
$620,900
Total market value
$838,700
Applied tax rate
621.0000
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1959
Heating
STEAM
Buildings
2
Total area
11,266 SF
Lot
0.5 ac (21,780 SF)
Zoning code
D
APN
27-30-23-43-0006
UPID
US46-0586777
Jurisdiction
RAMSEY
Zoning & alternative use
D · Arden Hills, MN
Zoning D · permitted uses
D · Arden Hills, MN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Arden Hills. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$760,000
WAREHOUSE, STORAGE
Est. value
$1.3M
OFFICE BUILDING
Est. value
$1.2M
RETAIL STORES
Est. value
$1.2M
INDUSTRIAL (GENERAL) Current
WAREHOUSE, STORAGE
OFFICE BUILDING
RETAIL STORES
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
1959
Heating
STEAM
Buildings
2
Lot
0.5 ac
Current owner
From public records · entity-resolved
Gard Properties LLC
Entity
Free & Clear · 0 yrs held
Mailing address
6179 PARTRIDGE CT, WHITE BEAR LAKE, MN 55110-1061
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 17, 2026
$1,050,000
Gard Properties LLC
Waters Edge Enterprises INC
Deed
—
Dec 21, 2018
$500
Waters Edge Ents INC
4roeser Holdings INC Corp
Quit Claim Deed
related
—
Mar 8, 2018
$500
4roeser Holdings INC Corp
Waters Edge Ents INC
Quit Claim Deed
related
—
Jul 24, 2017
$375,000
Waters Edge Ents INC
Freels,geraldine A
Grant Deed
—
Oct 24, 2016
—
Frank H Freels
Freels,frank H & Geraldine A
Quit Claim Deed
related
—
Oct 8, 2002
$375,000
Waters Edge Enterprises INC
Freels,frank H & Geraldine A
Grant Deed
$375,000 · Frank H & Geraldine A Freels
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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