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Property profile & analytics
OFF-MARKET
Estimated value
$655,000
Specialty properties
400 Spg St, Hastings, MN 55033-1823
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US46-0665006
Property profile
Verified
Property type
Specialty properties
Use group
CREMATORIUM, MORTUARY
Year built
1961
Construction
WOOD
Total area
8,844 SF
Lot
0.68 ac (29,621 SF)
Zoning code
R
APN
19-32150-26-030
UPID
US46-0665006
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
Current use
Occupant on record · Public records
-
Stepping Out Inc Nursing Home Retirement Community
-
Stepping Out Gym Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$605k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$655k
Owner & transaction history
Spring Street LLC · 4 yrs held
Spring Street LLC
since 2021
Last sale
$661,000
4 recorded transactions
Zoning & alternative use
R · Hastings, MN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Hastings submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hastings 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
$640,000
ML approach
$605,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$770,000
Change: 0% · Conversion: Difficult
OFFICE BUILDING
$715,000
Change: 0% · Conversion: Difficult
COMMERCIAL (GENERAL)
$640,000
Change: 0% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$515,000
Change: 0% · Conversion: Difficult
AUTO REPAIR, GARAGE
$500,000
Change: 0% · Conversion: Difficult
RETAIL STORES
$450,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$655k
Range $590k – $721k · ±10% · vs last sale $661k (Oct 12 2021)
Last sale anchor
$661k
Oct 12 2021
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
$74 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$9,262
Tax year 2022
Assessed value
$536,400
Assessed 2022
Previous assessed
$536,400
+0.0% YoY
Effective rate
1.73%
On assessed value
Assessed land
$117,000
Assessed improvement
$419,400
Land market value
$117,000
Improvement market value
$419,400
Total market value
$536,400
Applied tax rate
19.0000
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
Specialty properties
Use group
CREMATORIUM, MORTUARY
Status
Off-Market
Year built
1961
Construction
WOOD
Heating
NONE
Bathrooms
4
Total area
8,844 SF
Lot
0.68 ac (29,621 SF)
Zoning code
R
APN
19-32150-26-030
UPID
US46-0665006
Jurisdiction
DAKOTA
Zoning & alternative use
R · Hastings, MN
Zoning R · permitted uses
R · Hastings, MN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Hastings. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$770,000
OFFICE BUILDING
Est. value
$715,000
COMMERCIAL (GENERAL)
Est. value
$640,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$515,000
AUTO REPAIR, GARAGE
Est. value
$500,000
RETAIL STORES
Est. value
$450,000
RESTAURANT
OFFICE BUILDING
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
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
1961
Construction
WOOD
Heating
NONE
Bathrooms
4
Lot
0.68 ac
Current owner
From public records · entity-resolved
Spring Street LLC
Entity
Mailing address
7607 STILLWATER WAY N, OAKDALE, MN 55128-4026
Ownership since
2021
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
Oct 29, 2021
—
Spring Street LLC
—
Deed
related
$283,000 · Wbd INC
Oct 12, 2021
$661,000
Spring Street LLC
Confluence Properties INC
Warranty Deed
$340,500 · Choice Financial Group
Aug 27, 2018
$700,000
Confluence Properties INC
Wise,michael C & Mary L
Warranty Deed
$1,310,000 · Premier Bk/mn
—
—
Michael C Wise
—
Loan Modification
related
$405,000 · Vermillion St Bk
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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