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Property profile & analytics
OFF-MARKET
Estimated value
$1,775,000
Retail space
5231 Lincoln Rd Lincoln, ND 58504-1200
Individually Owned
4-yr Hold
Free & Clear
Property ID
US56-0743618
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2023
Total area
9,100 SF
APN
CL-138-79-86-01-020
UPID
US56-0743618
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
$1.81M
Comparable Approach
Comparable
$1.74M
Blend (final)
Blend
$1.78M
Owner & transaction history
Exchangeright Net Leased Portfolio · 4 yrs held
Exchangeright Net Leased Portfolio
since 2021
Last sale
$1.7M
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.4M
+6.8%
Industrial (general)
$1.4M
+3.2%
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 Lincoln submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lincoln 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
$1,860,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,960,000
6.5%
$1,810,000
7%
$1,680,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,335,000
Current use
COMMERCIAL (GENERAL)
$1,430,000
Change: +7% · Conversion: Easy
INDUSTRIAL (GENERAL)
$1,380,000
Change: +3% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,255,000
Change: -6% · Conversion: Moderate
Blend value · Realmo final
$1.78M
Range $1.60M – $1.95M · ±10% · vs last sale $1.73M (Sep 9 2021)
Last sale anchor
$1.73M
Sep 9 2021
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
$195 / 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
$17,726
Tax year 2023
Assessed value
$744,700
Assessed 2023
Previous assessed
$22,500
+3,209.8% YoY
Effective rate
2.38%
On assessed value
Total market value
$1,489,400
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2023
Total area
9,100 SF
APN
CL-138-79-86-01-020
UPID
US56-0743618
Jurisdiction
BURLEIGH
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
RETAIL STORES Current
Est. value
$1.3M
COMMERCIAL (GENERAL)
Est. value
$1.4M
INDUSTRIAL (GENERAL)
Est. value
$1.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.3M
RETAIL STORES Current
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
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
2023
Current owner
From public records · entity-resolved
Exchangeright Net Leased Portfolio
Individual
Free & Clear · 4 yrs held
Mailing address
1055 E COLORADO BLVD STE #310, PASADENA, CA 91106-2374
Ownership since
2021
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
Sep 9, 2021
$1,730,315
Exchangeright Net Leased Portfolio
Elk Creek Capital LLC
Warranty Deed
—
Mar 5, 2021
$175,000
Elk Creek Capital LLC
Western Prairie
Warranty Deed
$1,213,000 · Crossfirst Bank
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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