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Property profile & analytics
OFF-MARKET
Estimated value
$3,080,000
Commercial real estate
6244 Cedar S Ave, Richfield, MN 55423-1829
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US46-0880548
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1973
Construction
STEEL FRAME
Lot
1.81 ac (78,844 SF)
APN
26-028-24-11-0075
UPID
US46-0880548
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
$2.89M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.08M
Owner & transaction history
6244 Cedar Avenue LLC · 3 yrs held
6244 Cedar Avenue LLC
since 2023
Last sale
$3.3M
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 Richfield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Richfield 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
$2,930,000
ML approach
$2,890,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$3.08M
Range $2.77M – $3.39M · ±10% · vs last sale $3.25M (Jul 6 2023)
Last sale anchor
$3.25M
Jul 6 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
—
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
$117,649
Tax year 2023
Assessed value
$3,275,000
Assessed 2023
Previous assessed
$2,838,000
+15.4% YoY
Effective rate
3.59%
On assessed value
Assessed land
$1,185,000
Assessed improvement
$2,090,000
Land market value
$1,185,000
Improvement market value
$2,090,000
Total market value
$3,275,000
Applied tax rate
280.0000
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
1973
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Lot
1.81 ac (78,844 SF)
APN
26-028-24-11-0075
UPID
US46-0880548
Jurisdiction
HENNEPIN
Zoning & alternative use
Zoning · permitted uses
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
1973
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Lot
1.81 ac
Current owner
From public records · entity-resolved
6244 Cedar Avenue LLC
Entity
Mailing address
2830 FAIRVIEW AVE N, ROSEVILLE, MN 55113-1314
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 6, 2023
$3,250,000
6244 Cedar Avenue LLC
Makk Partners LLC
Warranty Deed
$2,200,000 · Bremer Bank NA
Feb 6, 2017
—
Makk Partners LLC
—
Deed
related
$250,000 · Metropolitan Consortium/cmnty
May 26, 2015
$1,570,000
Makk Partners LLC
Red Apple LLC
Warranty Deed
$1,580,000 · Wells Fargo Bk
Feb 2, 2015
—
Red Apple LLC
—
Grant Deed
related
$1,170,000 · Anchor Bk
Jun 2, 2011
$1,100,000
Red Apple LLC
Qwest Corp
Quit Claim Deed
related
$691,000 · Anchor Bank NA
—
—
Red Apple LLC
—
Deed Of Trust
related
$730,000 · Twin Cities-metro Cert Dev Co
—
—
Red Apple LLC
—
Deed Of Trust
related
$599,000 · Twin Cities-metro Cert Dev Co
—
—
Red Apple LLC
—
Deed Of Trust
related
$599,000 · Twin Cities-metro Cert Dev Co
—
—
Florida Tower Partners LLC
—
Deed Of Trust
related
$375,000 · Regions Bank
—
—
Makk Partners LLC
—
Loan Modification
related
$250,000 · Metropolitan Consortium/cmnty
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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