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Property profile & analytics
FOR LEASE
Distribution centers
406 E 7Th St Monticello, MN 55362
Individually Owned
Free & Clear
Property ID
US46-0763030
For Lease
1 / 2
$2,730,000
406 E 7Th St, Monticello, MN 55362
View Listing →
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1984
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
27,520 SF
Lot
7.4 ac (322,388 SF)
APN
155-029-002070
UPID
US46-0763030
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
-
Central Minnesota Jobs and Training Services, Inc. Employment Agency Tutoring Service
-
Minnesota State Rehab Services Medical Clinic
-
Vocational Rehabilitation Services Business Service Center Employment Agency
-
Turning Point ALP High School
-
CareerForce in Monticello Business Service Center Employment Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.59M
Blend (final)
Blend
$2.73M
Owner & transaction history
Qun Lin Wan
Qun Lin Wan
since 2026
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$3.6M
+63.3%
Restaurant
$3.6M
+61.2%
Auto repair, garage
$3.2M
+44.4%
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 Monticello submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Monticello 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
WAREHOUSE, STORAGE
$2,230,000
Current use
OFFICE BUILDING
$3,645,000
Change: +63% · Conversion: Difficult
RESTAURANT
$3,595,000
Change: +61% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,225,000
Change: +44% · Conversion: Easy
RETAIL STORES
$3,215,000
Change: +44% · Conversion: Moderate
COMMERCIAL (GENERAL)
$2,870,000
Change: +29% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$2,245,000
Change: +1% · Conversion: Easy
Blend value · Realmo final
$2.73M
Range $2.46M – $3.00M · ±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
$99 / 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
$59,230
Tax year 2023
Assessed value
$2,939,700
Assessed 2023
Previous assessed
$2,939,700
+0.0% YoY
Effective rate
2.01%
On assessed value
Assessed land
$1,082,700
Assessed improvement
$1,857,000
Land market value
$1,082,700
Improvement market value
$1,857,000
Total market value
$2,939,700
Applied tax rate
1,101.0000
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
For Lease
Year built
1984
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Buildings
2
Total area
27,520 SF
Lot
7.4 ac (322,388 SF)
APN
155-029-002070
UPID
US46-0763030
Jurisdiction
WRIGHT
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
WAREHOUSE, STORAGE Current
Est. value
$2.2M
OFFICE BUILDING
Est. value
$3.6M
RESTAURANT
Est. value
$3.6M
AUTO REPAIR, GARAGE
Est. value
$3.2M
RETAIL STORES
Est. value
$3.2M
COMMERCIAL (GENERAL)
Est. value
$2.9M
INDUSTRIAL (GENERAL)
Est. value
$2.2M
WAREHOUSE, STORAGE Current
OFFICE BUILDING
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
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
1984
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Buildings
2
Lot
7.4 ac
Current owner
From public records · entity-resolved
Qun Lin Wan
Individual
Free & Clear · 0 yrs held
Mailing address
15440 45TH ST NE, SAINT MICHAEL, MN 55376-9026
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 11, 2026
$189,000
Qun Lin Wan
Bravera Bank
Warranty Deed
—
Oct 3, 2025
—
Monticello Training Center LLC
—
Deed
related
$500,000 · Bankcherokee
Feb 2, 2023
—
Bravera Bank
Nuvision Management LLC
Warranty Deed
—
Sep 30, 2020
—
Monticello Traning Center LLC
—
Deed
related
$1,920,000 · Us Bank NA
Jan 13, 2020
—
Nuvision Management LLC
—
Deed
related
$10,836,368 · American Bk Ctr
Nov 12, 2019
—
Nuvision Management LLC
—
Deed
related
—
Mar 25, 2019
—
Nuvision Management LLC
—
Deed
related
$146,397 · American Bank Center
Apr 3, 2008
$2,450,000
Monticello Training Center LLC
Fulfillment Systems INC
Grant Deed
$2,531,000 · Anchor Bank NA
—
—
Monticello Training Center LLC
—
Deed Of Trust
related
$2,140,000 · First Nat'l Bk/elk River
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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