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Property profile & analytics
OFF-MARKET
Estimated value
$1,005,000
Drive through restaurants
960 Hwy 3rd S Northfield, MN 55057-2463
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US46-1196654
Property profile
Verified
Property type
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Year built
1983
Total area
7,182 SF
Lot
1.24 ac (54,128 SF)
APN
22.01.2.76.002
UPID
US46-1196654
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
$1.02M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.09M
Blend (final)
Blend
$1.01M
Owner & transaction history
38 Northre LLC · 5 yrs held
38 Northre LLC
since 2020
Last sale
$1.0M
7 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 Northfield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Northfield 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
$1,080,000
ML approach
$1,015,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$1,350,000
Current use
OFFICE BUILDING
$1,215,000
Change: -10% · Conversion: Moderate
Blend value · Realmo final
$1.01M
Range $905k – $1.11M · ±10% · vs last sale $1.00M (Aug 18 2020)
Last sale anchor
$1.00M
Aug 18 2020
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
$140 / 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
$38,880
Tax year 2024
Assessed value
$1,205,700
Assessed 2024
Previous assessed
$1,205,700
+0.0% YoY
Effective rate
3.22%
On assessed value
Assessed land
$251,200
Assessed improvement
$954,500
Land market value
$251,200
Improvement market value
$954,500
Total market value
$1,205,700
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Status
Off-Market
Year built
1983
Heating
NONE
Stories
1
Total area
7,182 SF
Lot
1.24 ac (54,128 SF)
APN
22.01.2.76.002
UPID
US46-1196654
Jurisdiction
RICE
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
$1.4M
OFFICE BUILDING
Est. value
$1.2M
RESTAURANT 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
1983
Heating
NONE
Stories
1
Lot
1.24 ac
Current owner
From public records · entity-resolved
38 Northre LLC
Entity
Mailing address
4737 COUNTY RD 101ST #256, MINNETONKA, MN 55345-2634
Ownership since
2020
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
Aug 18, 2020
$2,000,000
38 Northre LLC
Northfield Custard LLC
Grant Deed
related
$2,800,000 · Midwestone Bk
Nov 4, 2019
—
Custard LLC
—
Deed
related
$1,553,405 · Sterling Bk
Jan 9, 2014
$1,000,000
Northfield Custard LLC
Wernimont Properties II LLC
Warranty Deed
$1,165,000 · Sterling Bk
Jan 3, 2012
$1,239,300
Wernimont Properties II LLC
First Natl Bk Of Northfield
Warranty Deed
$1,150,000 · Sterling State Bank
Apr 19, 2011
$1,209,862
First Natl Bk Of Northfield
Deputy Sheriff Of Rice County
Trustees Deed
related
—
Aug 26, 2008
$834,000
R Family Foods INC
H3d LLC
Warranty Deed
$1,181,000 · First National Bank
Dec 28, 2006
$469,000
H3d LLC
Thompson,richard A & Dona L
Warranty Deed
—
—
—
Custard LLC
—
Deed Of Trust
related
$1,553,405 · Sterling Bk
—
—
R Family Foods INC
—
Deed Of Trust
related
$847,000 · Twin Cities-metro Cert Dev Co
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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