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Property profile & analytics
OFF-MARKET
Estimated value
$655,000
Parking lots & garages
408 Parkers Lk Rd 38 Wayzata, MN 55391-1448
Individually Owned
2-yr Hold
~
Est. High Equity
Property ID
US46-0578501
Property profile
Verified
Property type
Parking lots & garages
Use group
RESIDENTIAL PARKING GARAGE
Year built
2005
Lot
8.53 ac (371,520 SF)
Zoning code
PID
APN
04-117-22-21-0093
UPID
US46-0578501
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
$640k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$655k
Owner & transaction history
Christine Bartholdt · 2 yrs held
Christine Bartholdt
since 2023
Last sale
$655,000
2 recorded transactions
Zoning & alternative use
PID · Wayzata, 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 Wayzata submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wayzata 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
$655,000
ML approach
$640,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$655k
Range $590k – $721k · ±10% · vs last sale $655k (Oct 25 2023)
Last sale anchor
$655k
Oct 25 2023
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
—
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
$214
Tax year 2023
Assessed value
$15,000
Assessed 2023
Previous assessed
$15,000
+0.0% YoY
Effective rate
1.43%
On assessed value
Assessed land
$5,000
Assessed improvement
$10,000
Land market value
$5,000
Improvement market value
$10,000
Total market value
$15,000
Applied tax rate
284.0000
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
Parking lots & garages
Use group
RESIDENTIAL PARKING GARAGE
Status
Off-Market
Year built
2005
Heating
NONE
Cooling
NONE
Stories
1
Lot
8.53 ac (371,520 SF)
Zoning code
PID
APN
04-117-22-21-0093
UPID
US46-0578501
Jurisdiction
HENNEPIN
Zoning & alternative use
PID · Wayzata, MN
Zoning PID · permitted uses
PID · Wayzata, MN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Wayzata. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2005
Heating
NONE
Cooling
Yes
Stories
1
Lot
8.53 ac
Current owner
From public records · entity-resolved
Christine Bartholdt
Individual
Mailing address
408 PARKERS LK RD APT #204, WAYZATA, MN 55391-1449
Mailing matches property
Yes
Owner-occupied
Yes
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 25, 2023
$655,000
Christine Bartholdt
Nancy Somers
Deed
$405,000 · Bell Bank
Dec 9, 2014
$475,000
Somers,nancy Trust
Lewis,robert & Susan
Grant Deed
—
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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