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    5966 Hwy 61st N Saint Paul, MN 55110-2370
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    Property profile & analytics

    5966 Hwy 61st N, Saint Paul, MN 55110-2370

    View on Map
    • Retail space
    • 9,990 SF
    • 0.63 lot acres
    Off-Market
    Last Sale Jun 6, 2023
    $995,000
    Property ID
    US46-0783340
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Farmhouse Style Furniture / Furniture & Home Goods / Home Decor Store

    Property Details for 5966 Hwy 61st N

    Year built
    2005
    Construction
    WOOD FRAME
    Lot size
    0.63 lot acres
    Property type
    Retail space
    APN
    01-30-22-22-0023
    APU
    13022220023

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jun 6, 2023 $995,000 Jathan LLC Lendway Holdings LLC Warranty Deed $488k · Central Minnesota Cu
    Sep 12, 2019 — Lendway Holdigns LLC — Deed · related $495k · Lake Area Bank
    Dec 3, 2018 $665,000 Lendway Holdings LLC Thedore L Steichen Warranty Deed $495k · Lake Area Bank
    May 16, 2018 $500 Theodore L Steichen Fmb Properties LLC Quit Claim Deed · related —
    Jan 27, 2017 — Fmb Properties LLC — Deed · related $345k · Premier Bk
    Oct 20, 2006 — Fmb Properties LLC — Trustees Deed · related $50k · Riverbank
    — — Fmb Properties LLC — Deed Of Trust · related $100k · Premier Bank
    — — Fmb Properties LLC — Deed Of Trust · related $390k · Premier Bank
    — — Lendway Holdings LLC — Deed Of Trust · related $339k · Twin Cities-metro Certified De
    — — Fmb Properties LLC — Loan Modification · related $345k · Premier Bk
    — — Fmb Properties LLC — Deed Of Trust · related $300k · Premier Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Saint Paul
    County
    Ramsey
    State
    Minnesota
    Longitude
    -93.0021
    Latitude
    45.1227
    CBSA code
    33460
    CBSA name
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $15,800
    $109,800
    $545,800
    $655,600
    -
    $109,800
    $545,800
    $655,600

    Comparable in this City

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      $1,515,000
      13,366 SF

      4800 Hwy 61st N

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    • Value Estimation by Request
      9,595 SF

      2184 4th St

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      4,800 SF

      1658 County Rd Ee

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      1658 County Rd Ee, Vadnais Heights, MN 55110-4658
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    • Value Estimation
      $1,570,000
      16,526 SF

      2223 4th St

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    • Value Estimation by Request
      4,702 SF

      5051 Stewart Ave

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    • Value Estimation
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      23,660 SF

      4796 Washington Sq

      RETAIL STORES (PERSONAL SERVICES)
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    • $500,000
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      White Bear Lake Commercial Opportunity

      High-visibility corner lot, ideal for diverse business ventures.
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      Industrial Property with Expansion Potential

      Industrial property with freeway access and expansion possibilities.
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      1.363 Acres Buildable Land

      1.363 acres of land suitable for various developments.
      12101 Forest Blvd, Saint Paul, MN 55110
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      Highly visible land with permitted industrial and commercial uses.
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    Similar Nearby for Lease

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      High-visibility retail space in White Bear Lake's charming downtown.
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      Retail Space Available For Lease

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      Retail Space with Drive-Thru Potential

      Retail space with expansion options and drive-thru potential.
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      Retail Building with Drive-Through

      Multi-tenant retail building with drive-through, suitable for various businesses.
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    • Contact for pricing

      Birch Lake Square Retail Opportunity

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    Saint Paul, MN 55110-2370
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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