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Property profile & analytics
OFF-MARKET
Estimated value
$4,395,000
Commercial real estate
861 Hennepin Ave, Minneapolis, MN 55414-1201
Entity Owned
13-yr Hold
Absentee Owner
Free & Clear
Property ID
US46-0757726
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1902
Construction
BRICK
Total area
54,132 SF
Lot
1.37 ac (59,677 SF)
Zoning code
I1
APN
13-029-24-33-0106
UPID
US46-0757726
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
-
Northland Visions (Bike/Boat/Book/etc) Store
-
Nash Frame Design (Bike/Boat/Book/etc) Store Home Decor Store
-
Mission Manor Escape Rooms Tour Operator Campground & RV Park
-
Innovative Design Labs Research And Product Development
-
MinnHealth Research And Product Development
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.64M
Blend (final)
Blend
$4.40M
Owner & transaction history
861 E Hennepin LLC · 13 yrs held
861 E Hennepin LLC
since 2012
7 recorded transactions
Zoning & alternative use
I1 · 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$4.40M
Range $3.96M – $4.83M · ±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
$81 / 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
$167,358
Tax year 2023
Assessed value
$4,800,000
Assessed 2023
Previous assessed
$4,300,000
+11.6% YoY
Effective rate
3.49%
On assessed value
Assessed land
$493,400
Assessed improvement
$4,306,600
Land market value
$493,400
Improvement market value
$4,306,600
Total market value
$4,800,000
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
1902
Construction
BRICK
Heating
STEAM
Stories
4
Total area
54,132 SF
Lot
1.37 ac (59,677 SF)
Zoning code
I1
APN
13-029-24-33-0106
UPID
US46-0757726
Jurisdiction
HENNEPIN
Zoning & alternative use
I1 · Minneapolis, MN
Zoning I1 · permitted uses
I1 · Minneapolis, MN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Minneapolis. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1902
Construction
BRICK
Heating
STEAM
Stories
4
Lot
1.37 ac
Current owner
From public records · entity-resolved
861 E Hennepin LLC
Entity
Free & Clear · 13 yrs held
Mailing address
2476 LONE EAGLE TRL, WOODBURY, MN 55129-4208
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2012
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
Nov 12, 2019
—
861 E Hennepin LLC
—
Deed
related
$5,770,393 · First Wstrn Bk
Jan 26, 2018
—
861 E Hennepin LLC
—
Deed
related
$5,958,333 · First Wstrn Bk
Feb 7, 2017
—
861 E Hennepin LLC
—
Deed
related
$4,733,776 · First Wstrn Bk
Dec 18, 2015
—
861 E Hennepin LLC
—
Trustees Deed
related
$50,000 · First Wstrn Bk
Sep 28, 2012
—
861 E Hennepin LLC
Miller,michel H
Grant Deed
related
—
Feb 21, 2012
$500
Michael H Miller
Miller,esther
Warranty Deed
related
—
—
—
861 E Hennepin LLC
—
Loan Modification
related
$5,770,393 · First Wstrn Bk
—
—
861 E Hennepin LLC
—
Loan Modification
related
$4,733,776 · First Wstrn Bk
—
—
861 E Hennepin LLC
—
Loan Modification
related
$5,958,333 · First Wstrn 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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