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Property profile & analytics
OFF-MARKET
Estimated value
$2,140,000
Retail properties & Spaces
5310 Blaine Ave, Inver Grove Heights, MN 55076
Entity Owned
2-yr Hold
Free & Clear
Property ID
US46-0568096
Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Year built
1996
Construction
STEEL FRAME
Total area
29,304 SF
Lot
19.88 ac (865,973 SF)
Zoning code
R
APN
20-03310-03-021
UPID
US46-0568096
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
$2.29M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.16M
Blend (final)
Blend
$2.14M
Owner & transaction history
Glg Properties LLP · 2 yrs held
Glg Properties LLP
since 2023
Last sale
$2.1M
3 recorded transactions
Zoning & alternative use
R · Inver Grove Heights, MN
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 Inver Grove Heights submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Inver Grove Heights 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
$2,160,000
ML approach
$2,285,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.14M
Range $1.93M – $2.35M · ±10% · vs last sale $2.12M (Nov 29 2023)
Last sale anchor
$2.12M
Nov 29 2023
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
$73 / 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
$68,332
Tax year 2023
Assessed value
$4,435,400
Assessed 2022
Previous assessed
$4,435,400
+0.0% YoY
Effective rate
1.54%
On assessed value
Assessed land
$2,715,100
Assessed improvement
$1,720,300
Land market value
$2,715,100
Improvement market value
$1,720,300
Total market value
$4,435,400
Applied tax rate
20.0000
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
Retail properties & Spaces
Use group
DEPARTMENT STORE
Status
Off-Market
Year built
1996
Construction
STEEL FRAME
Heating
NONE
Buildings
2
Bathrooms
4
Total area
29,304 SF
Lot
19.88 ac (865,973 SF)
Zoning code
R
APN
20-03310-03-021
UPID
US46-0568096
Jurisdiction
DAKOTA
Zoning & alternative use
R · Inver Grove Heights, MN
Zoning R · permitted uses
R · Inver Grove Heights, MN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Inver Grove Heights. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1996
Construction
STEEL FRAME
Heating
NONE
Buildings
2
Bathrooms
4
Lot
19.88 ac
Current owner
From public records · entity-resolved
Glg Properties LLP
Entity
Free & Clear · 2 yrs held
Mailing address
5715 BLAINE AVE, INVER GROVE HEIGHTS, MN 55076-1225
Ownership since
2023
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
Nov 29, 2023
—
Glg Properties LLP
Robert L Gerten
Warranty Deed
—
Nov 29, 2023
$2,120,327
Glg Properties LLP
Lewis R Gerten
Deed
—
Sep 6, 2012
$2,120,325
Glg Properties
Gerten,robert L & Virginia B
Dual Purpose Document
$859,689 · Robert L & Virginia B Gerten
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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