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Property profile & analytics
FOR SALE
Commercial real estate
4388 Shoreline Dr Spring Park, MN 55384
Entity Owned
14-yr Hold
~
Est. High Equity
Property ID
US46-0703398
For Sale
1 / 3
Contact for pricing
4388 Shoreline Dr, Spring Park, MN 55384
View Listing →
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1991
Construction
CONCRETE BLOCKS
Lot
0.39 ac (16,988 SF)
APN
18-117-23-43-0027
UPID
US46-0703398
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
-
Lake Minnetonka Motorsports (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Grindstone Lake Properties LLC · 14 yrs held
Grindstone Lake Properties LLC
since 2012
7 recorded transactions
Zoning & alternative use
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 Spring Park submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Spring Park 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
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
$44,337
Tax year 2023
Assessed value
$1,697,000
Assessed 2023
Previous assessed
$1,357,000
+25.1% YoY
Effective rate
2.61%
On assessed value
Assessed land
$153,000
Assessed improvement
$1,544,000
Land market value
$153,000
Improvement market value
$1,544,000
Total market value
$1,697,000
Applied tax rate
277.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
For Sale
Year built
1991
Construction
CONCRETE BLOCKS
Heating
OTHER
Cooling
YES
Lot
0.39 ac (16,988 SF)
APN
18-117-23-43-0027
UPID
US46-0703398
Jurisdiction
HENNEPIN
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1991
Construction
CONCRETE BLOCKS
Heating
OTHER
Cooling
Yes
Lot
0.39 ac
Current owner
From public records · entity-resolved
Grindstone Lake Properties LLC
Entity
Mailing address
4388 SHORELINE DR, SPRING PARK, MN 55384-4525
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
23 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 28, 2020
—
Grindstone Lake Properties LLC
—
Deed
related
—
May 10, 2019
—
Grindstone Lake Properties LLC
—
Loan Modification
related
$1,044,296 · Lakeview Bk
Jan 7, 2019
—
Grindstone Lake Properties LLC
—
Deed
related
—
Oct 4, 2018
—
Grindstone Lake Properties LLC
—
Deed
related
—
Jun 4, 2018
—
Grindstone Lake Properties LLC
—
Deed
related
—
Mar 22, 2018
—
Grindstone Lake Properties LLC
—
Deed
related
—
Mar 6, 2017
—
Grindstone Lake Properties LLC
—
Deed
related
—
Jun 3, 2016
—
Grindstone Lake Properties LLC
—
Trustees Deed
related
$28,000 · Lakeview Bk
Mar 28, 2012
$1,200,000
Grindstone Lake Properties LLC
Oflanagan,patrick D & Jeannette
Warranty Deed
$976,000 · First National Bank
Mar 29, 2010
—
Patrick O'flanagan
—
Trustees Deed
related
$685,000 · Midas Capital LLC
Sep 29, 2009
—
Patrick D O'flanagan
—
Trustees Deed
related
$150,000 · First Minnesota Bank NA
Aug 12, 2009
—
Patrick D O'flanagan
—
Trustees Deed
related
—
Dec 8, 2008
—
Patrick D O'flanagan
—
Trustees Deed
related
$200,000 · First Minnesota Bank NA
—
—
Grindstone Lake Properties LLC
—
Loan Modification
related
—
—
—
Patrick D O'flanagan
—
Deed Of Trust
related
$75,000 · First Minnesota Bank NA
—
—
Grindstone Lake Properties LLC
—
Loan Modification
related
—
—
—
Grindstone Lake Properties LLC
—
Loan Modification
related
—
—
—
Grindstone Lake Properties LLC
—
Loan Modification
related
—
—
—
Grindstone Lake Properties LLC
—
Loan Modification
related
—
—
—
Grindstone Lake Properties LLC
—
Loan Modification
related
—
—
—
Patrick D O'flanagan
—
Deed Of Trust
related
$34,000 · State Bank Of Young America
—
—
Grindstone Lake Properties LLC
—
Deed Of Trust
related
$975,000 · Lakeview Bk
—
—
Grindstone Lake Properties LLC
—
Loan Modification
related
—
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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