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Property profile & analytics
OFF-MARKET
Estimated value
$835,000
Auto shops
9880 60th SW St, Howard Lake, MN 55349
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US46-1379786
Property profile
Verified
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Year built
2010
Total area
7,744 SF
Lot
6.7 ac (291,678 SF)
APN
212-000-333300
UPID
US46-1379786
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
-
Rental &Trucking Company Car Rental Facility
-
Forsman Farms Elevator Feed Store Warehouse & Storage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$864k
Blend (final)
Blend
$835k
Owner & transaction history
Forsman Farms INC · 10 yrs held
Forsman Farms INC
since 2016
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.0M
+13.1%
Restaurant
$1.0M
+11.6%
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 Howard Lake submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Howard Lake 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
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$905,000
Current use
OFFICE BUILDING
$1,025,000
Change: +13% · Conversion: Difficult
RESTAURANT
$1,010,000
Change: +12% · Conversion: Difficult
RETAIL STORES
$905,000
Change: 0% · Conversion: Difficult
COMMERCIAL (GENERAL)
$805,000
Change: -11% · Conversion: Moderate
Blend value · Realmo final
$835k
Range $752k – $919k · ±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
$108 / 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
$20,726
Tax year 2023
Assessed value
$1,067,400
Assessed 2023
Previous assessed
$1,067,400
+0.0% YoY
Effective rate
1.94%
On assessed value
Assessed land
$280,900
Assessed improvement
$786,500
Land market value
$280,900
Improvement market value
$786,500
Total market value
$1,067,400
Applied tax rate
2,802.0000
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
Auto shops
Use group
AUTO REPAIR, GARAGE
Status
Off-Market
Year built
2010
Heating
NONE
Total area
7,744 SF
Lot
6.7 ac (291,678 SF)
APN
212-000-333300
UPID
US46-1379786
Jurisdiction
WRIGHT
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
AUTO REPAIR, GARAGE Current
Est. value
$905,000
OFFICE BUILDING
Est. value
$1.0M
RESTAURANT
Est. value
$1.0M
RETAIL STORES
Est. value
$905,000
COMMERCIAL (GENERAL)
Est. value
$805,000
AUTO REPAIR, GARAGE Current
OFFICE BUILDING
RESTAURANT
RETAIL STORES
COMMERCIAL (GENERAL)
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
2010
Heating
NONE
Lot
6.7 ac
Current owner
From public records · entity-resolved
Forsman Farms INC
Entity
Mailing address
1200 COMMERCE BLVD, HOWARD LAKE, MN 55349-4542
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 3, 2020
—
Forsman Farms INC
—
Deed
related
$6,760,842 · Private Individual
Mar 12, 2018
—
Forsman Farms INC
—
Grant Deed
related
$6,760,842 · Private Individual
Jun 1, 2016
$568,200
Forsman Farms INC
Mages,donald & Theresa
Warranty Deed
$5,807,400 · Citizens Alliance Bk
Apr 12, 2010
$168,630
Donald Mages
Munson Lakes Nutrition LLC
Warranty Deed
$250,000 · Security State Bank Howard Lak
—
—
Forsman Farms INC
—
Loan Modification
related
$4,239,157 · Private Individual
—
—
Forsman Farms INC
—
Loan Modification
related
$6,760,842 · Private Individual
—
—
Donald Mages
—
Deed Of Trust
related
$116,000 · Minnesota Business Finance
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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