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Property profile & analytics
OFF-MARKET
Estimated value
$710,000
Grocery and convenience stores
516 Water S St Northfield, MN 55057-2062
Entity Owned
~
Est. High Equity
Property ID
US46-1275060
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1960
Total area
10,000 SF
Lot
0.41 ac (17,856 SF)
APN
22.01.1.00.020
UPID
US46-1275060
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
$637k
Blend (final)
Blend
$710k
Owner & transaction history
Justice Food Properties LLC
Justice Food Properties LLC
since 2026
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 Northfield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Northfield 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
Blend value · Realmo final
$710k
Range $639k – $781k · ±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
$71 / 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
$24,624
Tax year 2024
Assessed value
$780,500
Assessed 2024
Previous assessed
$780,500
+0.0% YoY
Effective rate
3.15%
On assessed value
Assessed land
$249,100
Assessed improvement
$531,400
Land market value
$249,100
Improvement market value
$531,400
Total market value
$780,500
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
1960
Heating
NONE
Buildings
2
Stories
1
Total area
10,000 SF
Lot
0.41 ac (17,856 SF)
APN
22.01.1.00.020
UPID
US46-1275060
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
Building & site characteristics
From public records
Year built
1960
Heating
NONE
Stories
1
Buildings
2
Lot
0.41 ac
Current owner
From public records · entity-resolved
Justice Food Properties LLC
Entity
Mailing address
205 WATER ST S STE #10, NORTHFIELD, MN 55057-1760
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 23, 2026
$1,452,500
Justice Food Properties LLC
Northfield Development Company
Warranty Deed
$2,122,500 · Premier Bank
Jul 6, 2020
—
Just Food Northfield Cmnty Co
—
Deed
related
$1,922,000 · Self-help Cu
Jun 18, 2020
—
Northfield Dev Co
—
Deed
related
$620,000 · Midwestone Bk
May 3, 2004
$450,000
Joseph M Heinen
Clem El Corp
Warranty Deed
—
May 3, 2004
$480,100
Northfield Dev Co
Lubbers,glenn
Warranty Deed
related
$390,000 · Castle Rock Bank
—
—
Northfield Dev Co
—
Deed Of Trust
related
$660,000 · Central Bk
—
—
Just Food Northfield Cmnty Co
—
Deed Of Trust
related
$1,922,000 · Self-help Cu
—
—
Northfield Dev Co
—
Loan Modification
related
$620,000 · Midwestone Bk
—
—
Northfield Dev Co
—
Loan Modification
related
—
—
—
Northfield Dev Co
—
Loan Modification
related
$214,175 · Castle Rock Bk
—
—
Northfield Dev Co
—
Deed Of Trust
related
$60,000 · Castle Rock Bank
—
—
Northfield Dev Co
—
Deed Of Trust
related
$200,000 · Castle Rock Bank
—
—
Northfield Dev Co
—
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.
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