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Property profile & analytics
OFF-MARKET
Estimated value
$565,000
Turn key restaurants
720 Lk Dr Detroit Lakes, MN 56501-3821
Individually Owned
7-yr Hold
~
Est. High Equity
Property ID
US46-2463792
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1999
Construction
WOOD
Total area
7,576 SF
APN
491107000
UPID
US46-2463792
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
-
El Loro Mexican Restaurant Restaurant
-
Little Detroit Lake Fishing & Observation Pier Fishing Pier
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$425k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$699k
Blend (final)
Blend
$565k
Owner & transaction history
Marcos D Gomez · 7 yrs held
Marcos D Gomez
since 2019
4 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
by Request
ML approach
$425,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$735,000
Current use
WAREHOUSE, STORAGE
$695,000
Change: -6% · Conversion: Difficult
COMMERCIAL (GENERAL)
$695,000
Change: -6% · Conversion: Easy
OFFICE BUILDING
$680,000
Change: -7% · Conversion: Moderate
Blend value · Realmo final
$565k
Range $509k – $622k · ±10%
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
$75 / 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
$24,516
Tax year 2023
Assessed value
$966,600
Assessed 2023
Previous assessed
$924,000
+4.6% YoY
Effective rate
2.54%
On assessed value
Assessed land
$452,600
Assessed improvement
$514,000
Land market value
$452,600
Improvement market value
$514,000
Total market value
$966,600
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1999
Construction
WOOD
Stories
1
Total area
7,576 SF
APN
491107000
UPID
US46-2463792
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
RESTAURANT Current
Est. value
$735,000
WAREHOUSE, STORAGE
Est. value
$695,000
COMMERCIAL (GENERAL)
Est. value
$695,000
OFFICE BUILDING
Est. value
$680,000
RESTAURANT Current
WAREHOUSE, STORAGE
COMMERCIAL (GENERAL)
OFFICE BUILDING
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
1999
Construction
WOOD
Stories
1
Current owner
From public records · entity-resolved
Marcos D Gomez
Individual
Mailing address
7500 180TH ST E, PRIOR LAKE, MN 55372-9103
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 20, 2019
—
Marcos D Gomez
Marcos Gomez Properties 6
Quit Claim Deed
related
—
Mar 4, 2014
$800,000
Marcos Gomez Properties Vi LLC
Red Rock Leasing INC
Contract Sale
—
Mar 4, 2014
$740,969
Red Rock Leasing INC
Twd LLC
Limited Warranty Deed
—
Mar 3, 2008
—
Raymond Swanson
Melva Mae Swanson
Affidavit Of Death Of Joint Tenant
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.
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