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Property profile & analytics
OFF-MARKET
Estimated value
$665,000
Manufacturing properties
507 Conrad S Ave Cologne, MN 55322-9624
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US46-0597979
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1989
Total area
11,040 SF
Lot
1.95 ac (84,942 SF)
APN
40-0132600
UPID
US46-0597979
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
-
Custom Formulations Industrial Manufacturer Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$550k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$778k
Blend (final)
Blend
$665k
Owner & transaction history
Fritz Enterprises LLC · 10 yrs held
Fritz Enterprises LLC
since 2016
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.0M
+96.9%
Retail stores
$1.0M
+90.2%
Auto repair, garage
$995,000
+88.2%
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 Cologne submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cologne 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
$550,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$530,000
Current use
MEDICAL BUILDING
$1,040,000
Change: +97% · Conversion: Difficult
RETAIL STORES
$1,005,000
Change: +90% · Conversion: Moderate
AUTO REPAIR, GARAGE
$995,000
Change: +88% · Conversion: Easy
WAREHOUSE, STORAGE
$650,000
Change: +23% · Conversion: Easy
Blend value · Realmo final
$665k
Range $599k – $732k · ±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
$60 / 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
$35,384
Tax year 2024
Assessed value
$1,260,900
Assessed 2024
Previous assessed
$1,184,000
+6.5% YoY
Effective rate
2.81%
On assessed value
Assessed land
$212,400
Assessed improvement
$1,048,500
Land market value
$212,400
Improvement market value
$1,048,500
Total market value
$1,260,900
Applied tax rate
108.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1989
Heating
SPACE
Stories
1
Total area
11,040 SF
Lot
1.95 ac (84,942 SF)
APN
40-0132600
UPID
US46-0597979
Jurisdiction
CARVER
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
INDUSTRIAL (GENERAL) Current
Est. value
$530,000
MEDICAL BUILDING
Est. value
$1.0M
RETAIL STORES
Est. value
$1.0M
AUTO REPAIR, GARAGE
Est. value
$995,000
WAREHOUSE, STORAGE
Est. value
$650,000
INDUSTRIAL (GENERAL) Current
MEDICAL BUILDING
RETAIL STORES
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
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
1989
Heating
SPACE
Stories
1
Lot
1.95 ac
Current owner
From public records · entity-resolved
Fritz Enterprises LLC
Entity
Mailing address
PO BOX 90, COLOGNE, MN 55322-0090
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 3, 2016
$474,500
Fritz Enterprises LLC
King,james G & Lorna J
Dual Purpose Document
$474,500 · James G & Lorna J King
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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