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Property profile & analytics
OFF-MARKET
Estimated value
$590,000
Apartment buildings
605 Linden St Royalton, MN 56373-9165
Individually Owned
17-yr Hold
Property ID
US46-1872874
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1978
Construction
WOOD
Total area
11,172 SF
Lot
2 ac (87,120 SF)
APN
44.0095.000
UPID
US46-1872874
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
$440k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$738k
Blend (final)
Blend
$590k
Owner & transaction history
Jason D Neubauer · 17 yrs held
Jason D Neubauer
since 2009
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$965,000
+39.8%
Restaurant
$925,000
+34.2%
Office building
$875,000
+26.9%
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 Royalton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Royalton 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
$440,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$690,000
Current use
AUTO REPAIR, GARAGE
$965,000
Change: +40% · Conversion: Difficult
RESTAURANT
$925,000
Change: +34% · Conversion: Difficult
OFFICE BUILDING
$875,000
Change: +27% · Conversion: Moderate
WAREHOUSE, STORAGE
$710,000
Change: +3% · Conversion: Difficult
RETAIL STORES
$635,000
Change: -8% · Conversion: Difficult
Blend value · Realmo final
$590k
Range $484k – $1.13M
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
$53 / 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
$7,638
Tax year 2023
Assessed value
$540,300
Assessed 2023
Previous assessed
$540,300
+0.0% YoY
Effective rate
1.41%
On assessed value
Assessed land
$107,000
Assessed improvement
$433,300
Land market value
$107,000
Improvement market value
$433,300
Total market value
$540,300
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1978
Construction
WOOD
Heating
OTHER
Cooling
WINDOW A/C
Stories
3
Units
12
Total area
11,172 SF
Lot
2 ac (87,120 SF)
APN
44.0095.000
UPID
US46-1872874
Jurisdiction
MORRISON
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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$690,000
AUTO REPAIR, GARAGE
Est. value
$965,000
RESTAURANT
Est. value
$925,000
OFFICE BUILDING
Est. value
$875,000
WAREHOUSE, STORAGE
Est. value
$710,000
RETAIL STORES
Est. value
$635,000
APARTMENT HOUSE (5+ UNITS) Current
AUTO REPAIR, GARAGE
RESTAURANT
OFFICE BUILDING
WAREHOUSE, STORAGE
RETAIL STORES
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
1978
Construction
WOOD
Heating
OTHER
Cooling
Yes
Stories
3
Units
12
Lot
2 ac
Current owner
From public records · entity-resolved
Jason D Neubauer
Individual
Mailing address
13108 JUDICIAL RD APT #2, BURNSVILLE, MN 55337-1988
Ownership since
2009
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 20, 2009
$400,000
Jason D Neubauer
Randell L Schuh
Warranty Deed
$250,000 · Us Bank NA
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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