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Property profile & analytics
OFF-MARKET
Estimated value
$2,590,000
Grocery and convenience stores
430 2nd NW Ave Faribault, MN 55021-5142
Entity Owned
7-yr Hold
Free & Clear
Property ID
US46-1142039
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1978
Total area
23,580 SF
Lot
2.5 ac (108,900 SF)
APN
18.31.1.26.214
UPID
US46-1142039
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
-
Jefferson Lines Logistics Company Trucking Company
-
Central Park Tourist Attraction Park
-
Fareway Spirits and More Store (Bike/Boat/Book/etc) Store Wine and Liquor Store
-
Sterling Pharmacy Pharmacy
-
Greyhound: Bus Stop Logistics Company Trucking Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.70M
Blend (final)
Blend
$2.59M
Owner & transaction history
City Of Faribault · 7 yrs held
City Of Faribault
since 2018
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$3.8M
+55.6%
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 Faribault submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Faribault 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
RETAIL STORES
$2,450,000
Current use
COMMERCIAL (GENERAL)
$3,815,000
Change: +56% · Conversion: Easy
Blend value · Realmo final
$2.59M
Range $2.33M – $2.85M · ±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
$110 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$69,568
Tax year 2024
Assessed value
$2,600,600
Assessed 2024
Previous assessed
$2,600,600
+0.0% YoY
Effective rate
2.68%
On assessed value
Assessed land
$508,900
Assessed improvement
$2,091,700
Land market value
$508,900
Improvement market value
$2,091,700
Total market value
$2,600,600
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1978
Heating
NONE
Buildings
2
Stories
1
Total area
23,580 SF
Lot
2.5 ac (108,900 SF)
APN
18.31.1.26.214
UPID
US46-1142039
Jurisdiction
RICE
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
RETAIL STORES Current
Est. value
$2.5M
COMMERCIAL (GENERAL)
Est. value
$3.8M
RETAIL STORES Current
COMMERCIAL (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
1978
Heating
NONE
Stories
1
Buildings
2
Lot
2.5 ac
Current owner
From public records · entity-resolved
City Of Faribault
Entity
Free & Clear · 7 yrs held
Mailing address
2300 INDUSTRIAL PARK RD, BOONE, IA 50036-3005
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 2, 2018
$500
City Of Faribault
Fareway Stores INC
Quit Claim Deed
related
—
May 15, 2012
$2,350,000
Fareway Stores INC
J & J Nelson Ents LP
Warranty Deed
related
—
Aug 4, 2006
—
J Ents
—
Trustees Deed
related
$400,000 · State Bank
Jul 11, 2006
—
J Enterpries
—
Trustees Deed
related
$400,000 · State Bank
—
—
J Ents
—
Deed Of Trust
related
$4,000,000 · State Bank
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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