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Property profile & analytics
OFF-MARKET
Estimated value
$1,065,000
Warehouses
3818 Nevada SW St, Alexandria, MN 56308-3319
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US46-1357106
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2006
Total area
8,477 SF
Lot
2.87 ac (125,017 SF)
APN
63-3500-010
UPID
US46-1357106
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
$1.08M
CAP Approach
CAP
$1.01M
Comparable Approach
Comparable
$1.33M
Blend (final)
Blend
$1.07M
Owner & transaction history
Swanston Equipment Corporation · 4 yrs held
Swanston Equipment Corporation
since 2022
Last sale
$1.1M
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.2M
+45.1%
Restaurant
$1.1M
+29.2%
Retail stores
$910,000
+8.5%
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 Alexandria submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Alexandria 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
$1,035,000
ML approach
$1,080,000
CAP Approach
CAP Return
Estimation
6%
$1,095,000
6.5%
$1,010,000
7%
$940,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$840,000
Current use
COMMERCIAL (GENERAL)
$1,215,000
Change: +45% · Conversion: Difficult
RESTAURANT
$1,085,000
Change: +29% · Conversion: Difficult
RETAIL STORES
$910,000
Change: +8% · Conversion: Moderate
Blend value · Realmo final
$1.07M
Range $959k – $1.17M · ±10% · vs last sale $1.10M (Jul 8 2022)
Last sale anchor
$1.10M
Jul 8 2022
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
$126 / 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
$24,564
Tax year 2023
Assessed value
$1,100,700
Assessed 2023
Previous assessed
$949,500
+15.9% YoY
Effective rate
2.23%
On assessed value
Assessed land
$245,600
Assessed improvement
$855,100
Land market value
$245,600
Improvement market value
$855,100
Total market value
$1,100,700
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2006
Heating
NONE
Buildings
2
Total area
8,477 SF
Lot
2.87 ac (125,017 SF)
APN
63-3500-010
UPID
US46-1357106
Jurisdiction
DOUGLAS
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
$840,000
COMMERCIAL (GENERAL)
Est. value
$1.2M
RESTAURANT
Est. value
$1.1M
RETAIL STORES
Est. value
$910,000
WAREHOUSE, STORAGE Current
COMMERCIAL (GENERAL)
RESTAURANT
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
2006
Heating
NONE
Buildings
2
Lot
2.87 ac
Current owner
From public records · entity-resolved
Swanston Equipment Corporation
Entity
Mailing address
3450 MAIN AVE, FARGO, ND 58103-1229
Ownership since
2022
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
Jul 8, 2022
$1,100,000
Swanston Equipment Corporation
Michael Jacobsen
Warranty Deed
$880,000 · Alerus Financial NA
Jan 6, 2020
—
Michael Jacobsen
Globe Enterprises Tm LLC
Quit Claim Deed
related
—
Jun 23, 2006
$1,426,060
Gobe Enterprises Tm LLC
Godlen Oak Investments LLC
Warranty Deed
$400,000 · First Stae Bank Of Alexandria
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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