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Property profile & analytics
OFF-MARKET
Estimated value
$2,600,000
Apartment buildings
400 Dewey St, Saint Paul, MN 55104-3554
Entity Owned
2-yr Hold
Property ID
US46-0794152
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1975
Construction
FRAME
Total area
24,606 SF
Lot
0.83 ac (35,981 SF)
Zoning code
H
APN
33-29-23-31-0041
UPID
US46-0794152
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
$2.60M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.38M
Blend (final)
Blend
$2.60M
Owner & transaction history
Union Park Apartments LLC · 2 yrs held
Union Park Apartments LLC
since 2024
Last sale
$2.6M
1 recorded transaction
Zoning & alternative use
H · Saint Paul, MN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$4.1M
+68.9%
Medical building
$3.6M
+48.3%
Warehouse, storage
$2.8M
+16.0%
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 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
$2,600,000
ML approach
$2,600,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$2,445,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$4,130,000
Change: +69% · Conversion: Difficult
MEDICAL BUILDING
$3,625,000
Change: +48% · Conversion: Moderate
WAREHOUSE, STORAGE
$2,835,000
Change: +16% · Conversion: Difficult
OFFICE BUILDING
$2,695,000
Change: +10% · Conversion: Moderate
RETAIL STORES
$2,515,000
Change: +3% · Conversion: Difficult
Blend value · Realmo final
$2.60M
Range $2.34M – $2.86M · ±10% · vs last sale $2.60M (Apr 26 2024)
Last sale anchor
$2.60M
Apr 26 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
$106 / 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
$59,844
Tax year 2023
Assessed value
$3,068,300
Assessed 2023
Previous assessed
$3,068,300
+0.0% YoY
Effective rate
1.95%
On assessed value
Assessed land
$700,000
Assessed improvement
$2,368,300
Land market value
$700,000
Improvement market value
$2,368,300
Total market value
$3,068,300
Applied tax rate
625.0000
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 (5+ UNITS)
Status
Off-Market
Year built
1975
Construction
FRAME
Heating
YES
Cooling
WINDOW A/C
Units
35
Total area
24,606 SF
Lot
0.83 ac (35,981 SF)
Zoning code
H
APN
33-29-23-31-0041
UPID
US46-0794152
Jurisdiction
RAMSEY
Zoning & alternative use
H · Saint Paul, MN
Zoning H · permitted uses
H · Saint Paul, MN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Saint Paul. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$2.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.1M
MEDICAL BUILDING
Est. value
$3.6M
WAREHOUSE, STORAGE
Est. value
$2.8M
OFFICE BUILDING
Est. value
$2.7M
RETAIL STORES
Est. value
$2.5M
APARTMENT HOUSE (5+ UNITS) Current
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
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
1975
Construction
FRAME
Heating
YES
Cooling
Yes
Units
35
Lot
0.83 ac
Current owner
From public records · entity-resolved
Union Park Apartments LLC
Entity
Mailing address
708 5TH ST SEB100, MINNEAPOLIS, MN 55414-2176
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 26, 2024
$2,600,000
Union Park Apartments LLC
Union Parks Apartments
Warranty Deed
$1,950,000 · Jpmorgan Chase Bank 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.
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