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Property profile & analytics
OFF-MARKET
Estimated value
$10,485,000
Apartment buildings
4770 Centerville Rd, White Bear Lake, MN 55127-2335
Individually Owned
14-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US46-0722589
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
1987
Construction
WOOD FRAME
Total area
106,400 SF
Lot
18.28 ac (796,451 SF)
Zoning code
H
APN
16-30-22-42-0003
UPID
US46-0722589
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
-
Isalis (Bike/Boat/Book/etc) Store
-
Party City Party Supply Store (Bike/Boat/Book/etc) Store
-
Skunk Funk Big Box & Wholesale Store
-
Carl's Trading Co Hat Shop
-
Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$13.59M
Blend (final)
Blend
$10.49M
Owner & transaction history
Jennifer L Martin · 14 yrs held
Jennifer L Martin
since 2011
3 recorded transactions
Zoning & alternative use
H · White Bear Lake, MN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$15.7M
+60.2%
Warehouse, storage
$12.3M
+25.3%
Office building
$11.7M
+19.1%
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 White Bear Lake submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs White Bear Lake 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)
$9,785,000
Current use
MEDICAL BUILDING
$15,675,000
Change: +60% · Conversion: Moderate
WAREHOUSE, STORAGE
$12,260,000
Change: +25% · Conversion: Difficult
OFFICE BUILDING
$11,650,000
Change: +19% · Conversion: Moderate
RETAIL STORES
$10,875,000
Change: +11% · Conversion: Difficult
Blend value · Realmo final
$10.49M
Range $9.44M – $11.53M · ±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
$99 / 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
$652,420
Tax year 2023
Assessed value
$39,900,000
Assessed 2023
Previous assessed
$43,112,500
-7.5% YoY
Effective rate
1.64%
On assessed value
Assessed land
$4,560,000
Assessed improvement
$35,340,000
Land market value
$4,560,000
Improvement market value
$35,340,000
Total market value
$39,900,000
Applied tax rate
624.0000
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
1987
Construction
WOOD FRAME
Heating
YES
Buildings
3
Total area
106,400 SF
Lot
18.28 ac (796,451 SF)
Zoning code
H
APN
16-30-22-42-0003
UPID
US46-0722589
Jurisdiction
RAMSEY
Zoning & alternative use
H · White Bear Lake, MN
Zoning H · permitted uses
H · White Bear Lake, MN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
White Bear Lake. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$9.8M
MEDICAL BUILDING
Est. value
$15.7M
WAREHOUSE, STORAGE
Est. value
$12.3M
OFFICE BUILDING
Est. value
$11.7M
RETAIL STORES
Est. value
$10.9M
APARTMENT HOUSE (5+ UNITS) Current
MEDICAL BUILDING
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
1987
Construction
WOOD FRAME
Heating
YES
Buildings
3
Lot
18.28 ac
Current owner
From public records · entity-resolved
Jennifer L Martin
Individual
Mailing address
8500 NORMANDALE LK BLVD STE #700, MINNEAPOLIS, MN 55437-3813
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 30, 2011
$145,000
Jennifer L Martin
Txayange,shertxhia
Warranty Deed
$105,000 · Cu Mortgage Services INC
Sep 22, 2010
$28,661,500
White Bear Woods Assocs LLC
I & G St Paul LLC
Grant Deed
$22,800,000 · Wells Fargo Bank
May 25, 2006
$23,700,000
I & G St Paul LLC
Crico Of White Bear Woods I
Warranty Deed
—
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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