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Property profile & analytics
OFF-MARKET
Estimated value
$8,675,000
Apartment buildings
455 Old Hwy 8th SW New Brighton, MN 55112-7711
Individually Owned
22-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US46-1094393
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
1967
Construction
WOOD FRAME
Total area
99,660 SF
Lot
4.88 ac (212,573 SF)
Zoning code
D
APN
32-30-23-42-0011
UPID
US46-1094393
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
$9.26M
Blend (final)
Blend
$8.68M
Owner & transaction history
Garden Grove Of New Brighton · 22 yrs held
Garden Grove Of New Brighton
since 2003
2 recorded transactions
Zoning & alternative use
D · New Brighton, MN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$11.5M
+25.3%
Office building
$10.9M
+19.1%
Retail stores
$10.2M
+11.2%
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 New Brighton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs New Brighton 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
APARTMENT HOUSE (5+ UNITS)
$9,165,000
Current use
WAREHOUSE, STORAGE
$11,480,000
Change: +25% · Conversion: Difficult
OFFICE BUILDING
$10,910,000
Change: +19% · Conversion: Moderate
RETAIL STORES
$10,190,000
Change: +11% · Conversion: Difficult
Blend value · Realmo final
$8.68M
Range $7.81M – $9.54M · ±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
$87 / 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
$192,406
Tax year 2023
Assessed value
$12,814,600
Assessed 2023
Previous assessed
$12,814,600
+0.0% YoY
Effective rate
1.50%
On assessed value
Assessed land
$2,340,000
Assessed improvement
$10,474,600
Land market value
$2,340,000
Improvement market value
$10,474,600
Total market value
$12,814,600
Applied tax rate
621.0000
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
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Status
Off-Market
Year built
1967
Construction
WOOD FRAME
Heating
YES
Buildings
3
Total area
99,660 SF
Lot
4.88 ac (212,573 SF)
Zoning code
D
APN
32-30-23-42-0011
UPID
US46-1094393
Jurisdiction
RAMSEY
Zoning & alternative use
D · New Brighton, MN
Zoning D · permitted uses
D · New Brighton, MN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
New Brighton. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$9.2M
WAREHOUSE, STORAGE
Est. value
$11.5M
OFFICE BUILDING
Est. value
$10.9M
RETAIL STORES
Est. value
$10.2M
APARTMENT HOUSE (5+ UNITS) Current
WAREHOUSE, STORAGE
OFFICE BUILDING
RETAIL STORES
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
1967
Construction
WOOD FRAME
Heating
YES
Buildings
3
Lot
4.88 ac
Current owner
From public records · entity-resolved
Garden Grove Of New Brighton
Individual
Mailing address
8325 WAYZATA BLVD STE #200, MINNEAPOLIS, MN 55426-1398
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2003
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 17, 2003
$7,100,000
Garden Grove Of New Brighton
Garden Grove Apartments LP
Grant Deed
related
$5,680,000 · First Federal Capital Bank
Apr 29, 2002
—
Garden Grove Apartments LP
Keefer,tr
Grant Deed
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.
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