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Property profile & analytics
OFF-MARKET
Estimated value
$48,440,000
Warehouses
429 Prior N Ave, Saint Paul, MN 55104-3793
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US46-2909384
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1953
Total area
261,098 SF
Lot
24.11 ac (1,050,406 SF)
APN
33-29-23-23-0024
UPID
US46-2909384
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
$52.99M
Comparable Approach
Comparable
$47.18M
Blend (final)
Blend
$48.44M
Owner & transaction history
Msp Midway Ll LLC · 1 yrs held
Msp Midway Ll LLC
since 2025
Last sale
$46.8M
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$55.1M
+83.2%
Auto repair, garage
$52.9M
+75.9%
Neighborhood: shopping center
$43.8M
+45.7%
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 Saint Paul submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Saint Paul 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%
$57,405,000
6.5%
$52,990,000
7%
$49,205,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$30,080,000
Current use
RESTAURANT
$55,120,000
Change: +83% · Conversion: Difficult
AUTO REPAIR, GARAGE
$52,915,000
Change: +76% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$43,815,000
Change: +46% · Conversion: Moderate
MEDICAL BUILDING
$38,470,000
Change: +28% · Conversion: Difficult
Blend value · Realmo final
$48.44M
Range $43.60M – $53.28M · ±10% · vs last sale $46.80M (Oct 14 2024)
Last sale anchor
$46.80M
Oct 14 2024
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
$186 / 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
$1,142,690
Tax year 2023
Assessed value
$40,681,000
Assessed 2023
Previous assessed
$31,782,000
+28.0% YoY
Effective rate
2.81%
On assessed value
Assessed land
$18,858,400
Assessed improvement
$21,822,600
Land market value
$18,858,400
Improvement market value
$21,822,600
Total market value
$40,681,000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1953
Buildings
5
Total area
261,098 SF
Lot
24.11 ac (1,050,406 SF)
APN
33-29-23-23-0024
UPID
US46-2909384
Jurisdiction
RAMSEY
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
$30.1M
RESTAURANT
Est. value
$55.1M
AUTO REPAIR, GARAGE
Est. value
$52.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$43.8M
MEDICAL BUILDING
Est. value
$38.5M
WAREHOUSE, STORAGE Current
RESTAURANT
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL 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
1953
Buildings
5
Lot
24.11 ac
Current owner
From public records · entity-resolved
Msp Midway Ll LLC
Entity
Mailing address
5201 EDEN AVE STE #50, EDINA, MN 55436-2316
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
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
Jan 14, 2025
$46,800,000
Msp Midway Ll LLC
G&i Ix Midway Prior LLC
Deed
$111,700,000 · Blackstone Nl Us Real Estate Lendin
Oct 5, 2021
—
G&i Ix Midway Prjor LLC
—
Deed
related
$82,754,000 · Bank Of America NA
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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