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Property profile & analytics
OFF-MARKET
Estimated value
$16,710,000
Commercial real estate
417 Hennepin Ave, Minneapolis, MN 55414
Entity Owned
~
Est. High Equity
Property ID
US46-1039762
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1885
Construction
CONCRETE
Total area
226,630 SF
Lot
0.62 ac (27,007 SF)
Zoning code
B4-2
APN
22-029-24-44-0106
UPID
US46-1039762
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$20.45M
Blend (final)
Blend
$16.71M
Owner & transaction history
Lumber Exchange LLC
Lumber Exchange LLC
since 2026
7 recorded transactions
Zoning & alternative use
B4-2 · Minneapolis, 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 Minneapolis submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Minneapolis 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
Blend value · Realmo final
$16.71M
Range $15.04M – $18.38M · ±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
$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 2023Property tax & assessments
Tax year 2023
Tax billed
$435,743
Tax year 2023
Assessed value
$12,500,000
Assessed 2023
Previous assessed
$19,900,000
-37.2% YoY
Effective rate
3.49%
On assessed value
Assessed land
$5,146,700
Assessed improvement
$7,353,300
Land market value
$5,146,700
Improvement market value
$7,353,300
Total market value
$12,500,000
Applied tax rate
1.0000
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
1885
Construction
CONCRETE
Heating
STEAM
Stories
12
Total area
226,630 SF
Lot
0.62 ac (27,007 SF)
Zoning code
B4-2
APN
22-029-24-44-0106
UPID
US46-1039762
Jurisdiction
HENNEPIN
Zoning & alternative use
B4-2 · Minneapolis, MN
Zoning B4-2 · permitted uses
B4-2 · Minneapolis, MN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Minneapolis. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1885
Construction
CONCRETE
Heating
STEAM
Stories
12
Lot
0.62 ac
Current owner
From public records · entity-resolved
Lumber Exchange LLC
Entity
Mailing address
3500 LENOX RD NE STE G1, ATLANTA, GA 30326-4265
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 9, 2026
—
Lumber Exchange LLC
Vmc Lumber Exchange LLC
Deed
related
—
Mar 4, 2026
$20,000
Lumber Exchange LLC
Vmc Lumber Exchange LLC
Deed
—
Apr 23, 2024
—
Vmc Finance 2019 Fl3 Trs LLC
Vmc Finance 2019 Fl3 LLC
Limited Warranty Deed
—
Jun 12, 2023
—
Vmc Finance 2019 Fl3 LLC
10 South 5th Street LP
Warranty Deed
—
May 20, 2019
$24,250,000
10 South 5th Street LP
Lumber Minnesota LLC
Trustees Deed
$26,000,000 · Vmc Lender LLC
Oct 13, 2004
$6,801,599
Cmat 1999-c1 Lumber Street LLC
10 South Lumber Operating Asso
Warranty Deed
—
—
—
Lumber LLC
—
Deed Of Trust
related
$14,000,000 · Bridgewater Bk
—
—
Lumber LLC
—
Deed Of Trust
related
$14,000,000 · Bridgewater Bk
—
—
Lumber LLC
—
Deed Of Trust
related
$2,000,000 · Bridgewater Bk
—
—
Lumber LLC
—
Deed Of Trust
related
$2,000,000 · Bridgewater 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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