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Property profile & analytics
OFF-MARKET
Estimated value
$18,305,000
Apartment buildings
3820 Hoffman Rd, White Bear Lake, MN 55110-5001
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US46-1947246
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
2015
Total area
211,420 SF
Lot
5.22 ac (227,296 SF)
APN
27-30-22-41-0137
UPID
US46-1947246
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
$21.47M
Blend (final)
Blend
$18.31M
Owner & transaction history
3820 Hoffman Rd Propco LLC · 1 yrs held
3820 Hoffman Rd Propco LLC
since 2025
Last sale
$18.1M
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$24.7M
+26.9%
Warehouse, storage
$24.4M
+25.3%
Retail stores
$21.6M
+11.2%
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 White Bear Lake submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs White Bear Lake 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
$15,575,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$19,440,000
Current use
OFFICE BUILDING
$24,675,000
Change: +27% · Conversion: Moderate
WAREHOUSE, STORAGE
$24,360,000
Change: +25% · Conversion: Difficult
RETAIL STORES
$21,615,000
Change: +11% · Conversion: Difficult
Blend value · Realmo final
$18.31M
Range $16.47M – $20.14M · ±10% · vs last sale $18.09M (Jan 23 2025)
Last sale anchor
$18.09M
Jan 23 2025
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
$87 / 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
$433,026
Tax year 2023
Assessed value
$29,473,900
Assessed 2023
Previous assessed
$30,389,200
-3.0% YoY
Effective rate
1.47%
On assessed value
Assessed land
$2,720,000
Assessed improvement
$26,753,900
Land market value
$2,720,000
Improvement market value
$26,753,900
Total market value
$29,473,900
Applied tax rate
624.0000
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
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Status
Off-Market
Year built
2015
Heating
STEAM
Buildings
3
Total area
211,420 SF
Lot
5.22 ac (227,296 SF)
APN
27-30-22-41-0137
UPID
US46-1947246
Jurisdiction
RAMSEY
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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$19.4M
OFFICE BUILDING
Est. value
$24.7M
WAREHOUSE, STORAGE
Est. value
$24.4M
RETAIL STORES
Est. value
$21.6M
APARTMENT HOUSE (5+ UNITS) Current
OFFICE BUILDING
WAREHOUSE, STORAGE
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
2015
Heating
STEAM
Buildings
3
Lot
5.22 ac
Current owner
From public records · entity-resolved
3820 Hoffman Rd Propco LLC
Entity
Free & Clear · 1 yrs held
Mailing address
1600 HOPKINS XRD STE #740, MINNETONKA, MN 55305-2026
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 23, 2025
$18,085,552
3820 Hoffman Rd Propco LLC
Wsl Of White Bear Lake Prop Owner L
Deed
—
Jul 8, 2019
—
Wsl Of White Bear Lk Prop Owner L
—
Grant Deed
related
$24,300,000 · Bmo Harris Bk NA
Mar 29, 2019
—
Wsl Of White Bear Lk Prop Owne
—
Deed
related
$23,850 · Bremer Bk Nat'l Assn
—
—
Wsl Of White Bear Lk Prop Owne
—
Deed Of Trust
related
$23,850 · Bremer Bk Nat'l Assn
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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