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Property profile & analytics
FOR SALE
Commercial real estate
398 Wabasha St North, Saint Paul, MN 55101
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US46-2858520
For Sale
1 / 3
$4,203,889
398 Wabasha St North, Saint Paul, MN 55101
View Listing →
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL CONDOMINUIM
Year built
1963
Total area
17,786 SF
Lot
0.4 ac (17,555 SF)
APN
06-28-22-12-0296
UPID
US46-2858520
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
$2.05M
Blend (final)
Blend
$1.71M
Owner & transaction history
St Paul Wabasha LLC · 2 yrs held
St Paul Wabasha LLC
since 2023
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$2.6M
+94.6%
Warehouse, storage
$2.1M
+52.2%
Apartment house (5+ units)
$2.0M
+45.8%
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 Saint Paul submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Saint Paul 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
COMMERCIAL (GENERAL)
$1,345,000
Current use
MEDICAL BUILDING
$2,620,000
Change: +95% · Conversion: Easy
WAREHOUSE, STORAGE
$2,050,000
Change: +52% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,965,000
Change: +46% · Conversion: Moderate
OFFICE BUILDING
$1,945,000
Change: +45% · Conversion: Easy
Blend value · Realmo final
$1.71M
Range $1.54M – $1.88M · ±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
$96 / 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
$179,160
Tax year 2023
Assessed value
$5,501,600
Assessed 2023
Previous assessed
$5,501,600
+0.0% YoY
Effective rate
3.26%
On assessed value
Assessed land
$878,600
Assessed improvement
$4,623,000
Land market value
$878,600
Improvement market value
$4,623,000
Total market value
$5,501,600
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
Commercial real estate
Use group
COMMERCIAL CONDOMINUIM
Status
For Sale
Year built
1963
Heating
YES
Buildings
3
Total area
17,786 SF
Lot
0.4 ac (17,555 SF)
APN
06-28-22-12-0296
UPID
US46-2858520
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
COMMERCIAL (GENERAL) Current
Est. value
$1.3M
MEDICAL BUILDING
Est. value
$2.6M
WAREHOUSE, STORAGE
Est. value
$2.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.0M
OFFICE BUILDING
Est. value
$1.9M
COMMERCIAL (GENERAL) Current
MEDICAL BUILDING
WAREHOUSE, STORAGE
APARTMENT HOUSE (5+ UNITS)
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
1963
Heating
YES
Buildings
3
Lot
0.4 ac
Current owner
From public records · entity-resolved
St Paul Wabasha LLC
Entity
Mailing address
PO BOX 1159, DEERFIELD, IL 60015
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 31, 2023
—
St Paul Wabasha LLC
—
Deed
related
$3,197,250 · Beverly Bank & Trust Co NA
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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