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Property profile & analytics
OFF-MARKET
Estimated value
$745,000
Warehouses
871 Shimmcor St, Mayer, MN 55360-2117
Entity Owned
22-yr Hold
Free & Clear
Property ID
US46-0705373
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2001
Total area
5,000 SF
Lot
1.08 ac (47,045 SF)
APN
50-7000110
UPID
US46-0705373
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
by Request
CAP Approach
CAP
$825k
Comparable Approach
Comparable
$686k
Blend (final)
Blend
$745k
Owner & transaction history
Quaas Properties LLC · 22 yrs held
Quaas Properties LLC
since 2004
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$985,000
+101.1%
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 Mayer submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mayer 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%
$895,000
6.5%
$825,000
7%
$765,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$490,000
Current use
OFFICE BUILDING
$985,000
Change: +101% · Conversion: Difficult
Blend value · Realmo final
$745k
Range $671k – $820k · ±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
$149 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$16,798
Tax year 2024
Assessed value
$682,500
Assessed 2024
Previous assessed
$642,400
+6.2% YoY
Effective rate
2.46%
On assessed value
Assessed land
$102,300
Assessed improvement
$580,200
Land market value
$102,300
Improvement market value
$580,200
Total market value
$682,500
Applied tax rate
111.0000
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
2001
Heating
NONE
Buildings
3
Total area
5,000 SF
Lot
1.08 ac (47,045 SF)
APN
50-7000110
UPID
US46-0705373
Jurisdiction
CARVER
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
WAREHOUSE, STORAGE Current
Est. value
$490,000
OFFICE BUILDING
Est. value
$985,000
WAREHOUSE, STORAGE Current
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
2001
Heating
NONE
Buildings
3
Lot
1.08 ac
Current owner
From public records · entity-resolved
Quaas Properties LLC
Entity
Free & Clear · 22 yrs held
Mailing address
PO BOX 73, MAYER, MN 55360-0073
Ownership since
2004
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
Dec 5, 2023
—
Ouaas Properties LLC
—
Deed
related
$250,000 · Security Bank & Trust
Jun 4, 2004
$500
Quaas Properties LLC
Quaas,bradley S & Shelly L
Warranty Deed
related
—
—
—
Quaas Properties LLC
—
Deed Of Trust
related
—
—
—
Quaas Properties LLC
—
Loan Modification
related
$118,649 · Security 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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