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Property profile & analytics
OFF-MARKET
Estimated value
$1,375,000
Retail space
631 Nelson Blvd Montrose, MN 55363-8553
Individually Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US46-3250307
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2015
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
9,354 SF
Lot
1.74 ac (75,664 SF)
APN
112-500-354301
UPID
US46-3250307
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
-
Dollar General Discount Store
-
FedEx OnSite Postal Service Courier Service
-
Redbox Cinema (Bike/Boat/Book/etc) Store
-
Western Union Bank Credit Union
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.77M
Comparable Approach
Comparable
$1.37M
Blend (final)
Blend
$1.38M
Owner & transaction history
State Of Minnesota · 1 yrs held
State Of Minnesota
since 2025
Last sale
$18,600
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.2M
+13.3%
Restaurant
$1.2M
+11.8%
Auto repair, garage
$1.1M
+0.2%
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 Montrose submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Montrose 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
by Request
CAP Approach
CAP Return
Estimation
6%
$1,920,000
6.5%
$1,770,000
7%
$1,645,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,095,000
Current use
OFFICE BUILDING
$1,240,000
Change: +13% · Conversion: Easy
RESTAURANT
$1,225,000
Change: +12% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,095,000
Change: +0% · Conversion: Difficult
COMMERCIAL (GENERAL)
$975,000
Change: -11% · Conversion: Easy
Blend value · Realmo final
$1.38M
Range $1.24M – $1.51M · ±10% · vs last sale $19k (Jan 28 2025)
Last sale anchor
$19k
Jan 28 2025
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
$147 / 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
$22,834
Tax year 2023
Assessed value
$1,054,100
Assessed 2023
Previous assessed
$1,054,100
+0.0% YoY
Effective rate
2.17%
On assessed value
Assessed land
$274,100
Assessed improvement
$780,000
Land market value
$274,100
Improvement market value
$780,000
Total market value
$1,054,100
Applied tax rate
1,201.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
2015
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Total area
9,354 SF
Lot
1.74 ac (75,664 SF)
APN
112-500-354301
UPID
US46-3250307
Jurisdiction
WRIGHT
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
$1.1M
OFFICE BUILDING
Est. value
$1.2M
RESTAURANT
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$975,000
RETAIL STORES Current
OFFICE BUILDING
RESTAURANT
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
2015
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Lot
1.74 ac
Current owner
From public records · entity-resolved
State Of Minnesota
Individual
Free & Clear · 1 yrs held
Mailing address
345 PARK AVE FL #8, NEW YORK, NY 10154-0017
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 28, 2025
$18,600
State Of Minnesota
Ldg Montrose Mn LLC
Warranty Deed
—
Oct 28, 2015
$1,167,100
Ldg Montrose Mn LLC
Imperial Dev Corp
Grant Deed
$767,000 · Ladder Cap Fin
Jan 9, 2015
—
Imperial Dev Corp
Crowrosa Investments LLC
Warranty Deed
related
$828,000 · Southern Bk
Jun 22, 2006
$410,000
Crowrosa Investments LLC
Kinte,kippe
Warranty Deed
$391,500 · Klein Bank
Jun 3, 2005
$500
Gl Anderson Construction LLC
Kinte,kippe
Quit Claim Deed
related
—
Apr 15, 2005
$500
April L Pivec
Kinte,kippe
Quit Claim Deed
related
—
Apr 15, 2005
$72,000
Gl Anderson Construction LLC
Kinte,kippe
Warranty Deed
$325,000 · Bank West
—
—
Crowrosa Investments LLC
—
Deed Of Trust
related
$50,000 · Klein Bank
—
—
Crowrosa Investments LLC
—
Deed Of Trust
related
$50,000 · Klein Bank
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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