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Property profile & analytics
OFF-MARKET
Estimated value
$4,025,000
Commercial real estate
402 Main S St Stillwater, MN 55082-5128
Entity Owned
9-yr Hold
Free & Clear
Property ID
US46-2936426
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1872
Total area
31,663 SF
APN
28-030-20-41-0159
UPID
US46-2936426
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
-
Stillwater Art Guild Gallery Art Gallery
-
Victoriano's Pizza Restaurant
-
The Goodery Specialty Food Shop (Bike/Boat/Book/etc) Store
-
The Hive House (Bike/Boat/Book/etc) Store Photography Service
-
Uncommon Movement: Pilates, GYROTONIC® & Fitness Studio Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.50M
Comparable Approach
Comparable
$2.84M
Blend (final)
Blend
$4.03M
Owner & transaction history
Elevage Hotel Group LLC · 9 yrs held
Elevage Hotel Group LLC
since 2017
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$5.6M
+0.9%
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 Stillwater submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Stillwater 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%
$4,870,000
6.5%
$4,495,000
7%
$4,175,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$5,575,000
Current use
WAREHOUSE, STORAGE
$5,630,000
Change: +1% · Conversion: Difficult
RETAIL STORES
$5,520,000
Change: -1% · Conversion: Easy
OFFICE BUILDING
$4,800,000
Change: -14% · Conversion: Easy
Blend value · Realmo final
$4.03M
Range $3.62M – $4.43M · ±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
$127 / 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
$225,004
Tax year 2023
Assessed value
$7,627,000
Assessed 2022
Previous assessed
$7,627,000
+0.0% YoY
Effective rate
2.95%
On assessed value
Assessed land
$761,100
Assessed improvement
$6,865,900
Land market value
$761,100
Improvement market value
$6,865,900
Total market value
$7,627,000
Applied tax rate
7,601.0000
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1872
Heating
NONE
Total area
31,663 SF
APN
28-030-20-41-0159
UPID
US46-2936426
Jurisdiction
WASHINGTON
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
$5.6M
WAREHOUSE, STORAGE
Est. value
$5.6M
RETAIL STORES
Est. value
$5.5M
OFFICE BUILDING
Est. value
$4.8M
COMMERCIAL (GENERAL) Current
WAREHOUSE, STORAGE
RETAIL STORES
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
1872
Heating
NONE
Current owner
From public records · entity-resolved
Elevage Hotel Group LLC
Entity
Free & Clear · 9 yrs held
Mailing address
402 MAIN ST, STILLWATER, MN 55082
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 18, 2017
—
Elevage Hotel Group LLC
Stillwater Caves LLC
Grant Deed
—
Sep 14, 2016
$1,680,000
Elevage Hotel Group LLC
Luna Rossa INC
Grant Deed
—
Dec 11, 2015
$285,225
Luna Rossa INC
Haugen,nancy S
Grant Deed
—
Oct 24, 2011
$180,000
N H Design LLC
Drake Bk
Warranty Deed
—
Jan 4, 2007
$231,486
Stillwater Caves LLC
402 Main Street LLC
Warranty Deed
—
Dec 29, 2006
$1,200,000
Luna Rossa INC
Owner Name Unavailable
Grant Deed
related
—
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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