Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$500,000
Commercial real estate
624 Lk St Minneapolis, MN 55407-1549
Entity Owned
2-yr Hold
Free & Clear
Property ID
US46-3232382
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1946
Construction
CONCRETE
Total area
2,280 SF
Lot
0.11 ac (4,792 SF)
Zoning code
C1
APN
35-029-24-33-0153
UPID
US46-3232382
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
Current use
Occupant on record · Public records
-
Open Arms Adult Daycare Adult Day Care
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$500k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$500k
Owner & transaction history
Molina Investment Group LLC · 2 yrs held
Molina Investment Group LLC
since 2024
Last sale
$500,000
6 recorded transactions
Zoning & alternative use
C1 · Minneapolis, 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 Minneapolis submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Minneapolis 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
$500,000
ML approach
$500,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$500k
Range $450k – $550k · ±10% · vs last sale $500k (Mar 11 2024)
Last sale anchor
$500k
Mar 11 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
$219 / 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
$11,917
Tax year 2023
Assessed value
$436,100
Assessed 2023
Previous assessed
$323,000
+35.0% YoY
Effective rate
2.73%
On assessed value
Assessed land
$83,900
Assessed improvement
$352,200
Land market value
$83,900
Improvement market value
$352,200
Total market value
$436,100
Applied tax rate
1.0000
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1946
Construction
CONCRETE
Heating
FORCED AIR
Stories
1
Total area
2,280 SF
Lot
0.11 ac (4,792 SF)
Zoning code
C1
APN
35-029-24-33-0153
UPID
US46-3232382
Jurisdiction
HENNEPIN
Zoning & alternative use
C1 · Minneapolis, MNZoning C1 · permitted uses
C1 · Minneapolis, MN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1946
Construction
CONCRETE
Heating
FORCED AIR
Stories
1
Lot
0.11 ac
Current owner
From public records · entity-resolved
Molina Investment Group LLC
Entity
Free & Clear · 2 yrs held
Mailing address
507 E LK ST, MINNEAPOLIS, MN 55408-2427
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 11, 2024
—
Molina Investment Group LLC
Wilson Molina
Intrafamily Transfer
related
—
Dec 7, 2021
$500,000
Wilson Molina
Said LLC
Warranty Deed
$350,000 · First National Bank Minnesota
Feb 6, 2009
$500
Saldi LLC
Hernandez,eduardo S
Quit Claim Deed
related
—
Jun 6, 2005
$329,000
Eduardo S Hernandez
Alm Properties LLC
Warranty Deed
—
Aug 18, 2000
$100,000
Alm Properties LLC
Kovack,myoung D
Quit Claim Deed
related
—
Aug 17, 1998
—
Myoung D Kovack
Abul-hajj,nedal Y
Quit Claim Deed
related
—
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 624 Lk St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
