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Property profile & analytics
FOR LEASE
Strip malls
720 Main St, Mendota Heights, MN 55118
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US46-1098914
For Lease
1 / 2
$8,780,000
720 Main St, Mendota Heights, MN 55118
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2005
Construction
STEEL FRAME
Total area
48,261 SF
Lot
0.91 ac (39,640 SF)
APN
27-48335-06-030
UPID
US46-1098914
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
$8.96M
CAP Approach
CAP
$9.64M
Comparable Approach
Comparable
$6.08M
Blend (final)
Blend
$8.78M
Owner & transaction history
Ordb LLC · 4 yrs held
Ordb LLC
since 2022
Last sale
$8.8M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$10.2M
+25.8%
Auto repair, garage
$9.8M
+20.8%
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 Mendota Heights submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mendota Heights 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
$7,765,000
ML approach
$8,955,000
CAP Approach
CAP Return
Estimation
6%
$10,435,000
6.5%
$9,635,000
7%
$8,945,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$8,100,000
Current use
RESTAURANT
$10,190,000
Change: +26% · Conversion: Difficult
AUTO REPAIR, GARAGE
$9,780,000
Change: +21% · Conversion: Difficult
MEDICAL BUILDING
$7,110,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$8.78M
Range $7.90M – $9.66M · ±10% · vs last sale $8.78M (May 13 2022)
Last sale anchor
$8.78M
May 13 2022
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
$182 / 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
$132,984
Tax year 2023
Assessed value
$4,663,700
Assessed 2022
Previous assessed
$4,663,700
+0.0% YoY
Effective rate
2.85%
On assessed value
Assessed land
$594,500
Assessed improvement
$4,069,200
Land market value
$594,500
Improvement market value
$4,069,200
Total market value
$4,663,700
Applied tax rate
27.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
2005
Construction
STEEL FRAME
Heating
NONE
Bathrooms
8
Total area
48,261 SF
Lot
0.91 ac (39,640 SF)
APN
27-48335-06-030
UPID
US46-1098914
Jurisdiction
DAKOTA
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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$8.1M
RESTAURANT
Est. value
$10.2M
AUTO REPAIR, GARAGE
Est. value
$9.8M
MEDICAL BUILDING
Est. value
$7.1M
NEIGHBORHOOD: SHOPPING CENTER Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL 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
2005
Construction
STEEL FRAME
Heating
NONE
Bathrooms
8
Lot
0.91 ac
Current owner
From public records · entity-resolved
Ordb LLC
Entity
Mailing address
1 E ERIE ST STE #525, CHICAGO, IL 60611-2980
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 13, 2022
$8,775,472
Ordb LLC
Mendota Heights Town Center LLC
Limited Warranty Deed
$12,935,000 · Bridgewater Bank
Jan 23, 2020
—
Cbm Two Hotels LP
—
Deed
related
$684,000 · Dbr Invs Co Ltd
Dec 16, 2011
—
Mendota Heights Town Center Ll
—
Deed Of Trust
related
$7,052,500 · Prior Lake State Bank
Sep 22, 2008
—
Mendota Heights Town Center Ll
—
Deed Of Trust
related
$7,052,500 · Prior Lake St Bk
Mar 29, 2007
—
Mendota Heights Town Center Ll
—
Trustees Deed
related
$920,000 · Prior Lake State Bank
Dec 27, 2004
$198,678
Mendota Heights Town Center Ll
City Of Mendota Heights
Grant Deed
related
$188,746 · City Of Mendota Heights
—
—
Mendota Heights Town Center Ll
—
Loan Modification
related
$7,052,500 · Klein Bk
—
—
Mendota Heights Town Center Ll
—
Loan Modification
related
$707,500 · Klein Bk
—
—
Mendota Heights Town Center Ll
—
Loan Modification
related
$707,500 · Klein Bk
—
—
Mendota Heights Town Center Ll
—
Loan Modification
related
$7,052,500 · Klein Bk
—
—
Mendota Heights Town Center Ll
—
Deed Of Trust
related
$707,500 · Prior Lake State Bank
—
—
Cbm Two Hotels LP
—
Deed Of Trust
related
$684,000 · Dbr Invs Co Ltd
—
—
Mendota Heights Town Center Ll
—
Deed Of Trust
related
$707,500 · Prior Lake St Bk
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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