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Property profile & analytics
OFF-MARKET
Estimated value
$625,000
Retail space
601 Hwy 10th E Detroit Lakes, MN 56501-4132
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US46-2793425
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1985
Construction
STEEL FRAME
Total area
11,440 SF
Lot
0.92 ac (40,030 SF)
APN
490458000
UPID
US46-2793425
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
$625k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$415k
Blend (final)
Blend
$625k
Owner & transaction history
Business Builders INC · 2 yrs held
Business Builders INC
since 2024
Last sale
$625,000
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 Detroit Lakes submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Detroit Lakes 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
$625,000
ML approach
$625,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$745,000
Current use
Blend value · Realmo final
$625k
Range $563k – $688k · ±10% · vs last sale $625k (Feb 5 2024)
Last sale anchor
$625k
Feb 5 2024
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
$55 / 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
$9,212
Tax year 2023
Assessed value
$417,100
Assessed 2023
Previous assessed
$417,100
+0.0% YoY
Effective rate
2.21%
On assessed value
Assessed land
$165,100
Assessed improvement
$252,000
Land market value
$165,100
Improvement market value
$252,000
Total market value
$417,100
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
1985
Construction
STEEL FRAME
Heating
FLOOR/WALL FURNACE
Stories
1
Total area
11,440 SF
Lot
0.92 ac (40,030 SF)
APN
490458000
UPID
US46-2793425
Jurisdiction
BECKER
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
$745,000
RETAIL STORES Current
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
1985
Construction
STEEL FRAME
Heating
FLOOR/WALL FURNACE
Stories
1
Lot
0.92 ac
Current owner
From public records · entity-resolved
Business Builders INC
Entity
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 5, 2024
$625,000
Business Builders INC
106 Properties LLC
Warranty Deed
$500,000 · Midwest Bank
Feb 5, 2024
$475,000
106 Properties LLC
Larry Shaw
Warranty Deed
$500,000 · Midwest Bank
Dec 5, 2022
$475,000
106 Prop LLC
Larry Shaw
Deed
—
Aug 31, 2022
—
Tracy E Wallin
Larry Shaw
Deed
—
Dec 23, 2019
—
Larry J Shaw
—
Deed
related
$460,000 · Bremer Bank
Aug 30, 2017
—
Larry Shaw
Drake Development
Warranty Deed
$290,000 · Midwest Bank
Jun 28, 2007
$400,000
Larry Shaw
Allen G Drake
Contract Sale
$375,000 · Allen G Drake Etux
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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