Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    6845 20th Ave Centerville, MN 55038-7760

    • Industrial properties
    • 19,800 SF
    • 2.03 lot acres
    OFF-MARKET
    Value Estimations
    $2,605,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US46-0703070
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Industrial properties

    Property Details for 6845 20th Ave

    Year built
    2001
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    2.03 lot acres
    Property size
    19,800 SF
    Property type
    Industrial properties
    APN
    23-31-22-44-0008
    APU
    233122440008

    Description

    This 3,300-square-foot industrial warehouse condo, located at 6845 20th Ave S in Hugo, Minnesota (zip code 55038), is available for purchase at $660,000. Built in 2001 and renovated in 2024, this single-story building offers a 16-foot ceiling height, perfect for various industrial uses. The property features one loading dock and one dock-high door, providing convenient access for loading and unloading. Currently vacant, this space presents an excellent opportunity for businesses seeking a well-maintained and conveniently located warehouse. Situated in the Centerville/Hugo area, this property offers easy access to major transportation routes, including Interstate 35E and Highway 694. The net rentable square footage is 3,300 square feet. This is a multi-tenant building, and additional suites will become available in the fall of 2024, offering varying warehouse-to-office space ratios. For businesses interested in building equity through real estate, the possibility of purchasing a leased suite in the future may be available. This property is located in Anoka County.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,585,000
      6.5%
      $3,310,000
      7%
      $3,075,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,758,000
      Market price range: $1.37M - $2.84M
      AI Estimate
      $1,752,000
      Market price range: $514k - $2.04M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $1,930,000
      Current use
      COMMERCIAL (GENERAL)
      $3,485,000
      Change: +80% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Centerville
    County
    Anoka
    State
    Minnesota
    Longitude
    -93.0416
    Latitude
    45.1544
    CBSA code
    33460
    CBSA name
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $56,610
    $234,200
    $1,728,400
    $1,962,600
    -
    $234,200
    $1,728,400
    $1,962,600

    Comparable in this City

    • Value Estimation
      $3,570,000
      25,728 SF

      2065 Commerce Dr

      INDUSTRIAL (GENERAL) • 25,728 SF
      2065 Commerce Dr, Centerville, MN 55038-4684
      View Details
    • Value Estimation
      $10,050,000
      132,330 SF

      13620 Fenway N Blvd

      INDUSTRIAL (GENERAL) • 132,330 SF
      13620 Fenway N Blvd, Hugo, MN 55038-7454
      View Details
    • Value Estimation by Request
      1,536 SF

      15505 Frst N Blvd

      INDUSTRIAL (GENERAL) • 1,536 SF
      15505 Frst N Blvd, Hugo, MN 55038
      View Details
    • Value Estimation by Request
      2,394 SF

      13419 Fenway Blvd N Ste, Unit 105

      CONDOMINIUMS (INDUSTRIAL) • 2,394 SF
      13419 Fenway Blvd N Ste, Hugo, MN 55038-7466
      View Details
    • Value Estimation by Request
      2,394 SF

      13419 Fenway Blvd N Ste, Unit 106

      CONDOMINIUMS (INDUSTRIAL) • 2,394 SF
      13419 Fenway Blvd N Ste, Hugo, MN 55038-7466
      View Details
    • Value Estimation by Request
      3,990 SF

      13025 Fenway Blvd N Ste, Unit 330

      CONDOMINIUMS (INDUSTRIAL) • 3,990 SF
      13025 Fenway Blvd N Ste, Hugo, MN 55038-7532
      View Details

    Similar Nearby for Sale

    • $378,000
      18.00 Acres

      18-Acre Lot in May Twp

      Beautiful 18-acre lot in May Twp, MN, ready for development.
      Xxx Keystone Ave N, Hugo, MN 55038
      View Details
    • Contact for pricing

      Land with I-35E Access

      Land with utilities and highway access in Lino Lakes.
      & I-35E W Cedar St, Lino Lakes, MN 55038
      View Details
    • $425,000
      12.01 Acres

      Expansive 12-Acre Land Parcel

      12 acre parcel offers endless possibilities near shopping and freeway.
      15xxx Everton Ave N, Hugo, MN 55038
      View Details
    • Contact for pricing

      Lino Lakes Commercial Land Available

      Commercial land with I-35E visibility in Lino Lakes, MN.
      7233 24Th Ave N, Lino Lakes, MN 55038
      View Details
    • $499,900
      20.00 Acres

      20 Acres in Hugo, MN

      20-acre site in Stillwater School District, suitable for horses.
      129xx Jody Ave, Hugo, MN 55038
      View Details
    • Contact for pricing

      Centerville Land for Mixed Use

      1.61 acres in downtown Centerville, suitable for multi-family development.
      7073 Centerville Rd, Centerville, MN 55038
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      8,900 SF

      Centerville Land for Outdoor Storage

      Up to approximately 2.00 acres of outdoor storage available.
      6805 20Th Ave S, Centerville, MN 55038
      View Details
    • $15 SF/Yr
      2,904 SF

      Industrial Warehouse Space Available

      Industrial warehouse space for rent featuring 200 amp power.
      13419 N Fenway Blvd, Hugo, MN 55038
      View Details
    • Contact for pricing

      Hugo Flex Space For Rent

      Flex space with office and warehouse components, available December 2023.
      15587 Forest Blvd N, Hugo, MN 55038
      View Details
    • Contact for pricing

      Lino Lakes Industrial Property

      Industrial property available for lease in Lino Lakes, Minnesota.
      I-35E Rd 14, Lino Lakes, MN 55038
      View Details
    • Contact for pricing
      1,120 SF

      Historic Schoolhouse for Commercial Business

      Historic Hopkins Schoolhouse with potential for commercial use.
      5970 170Th St N, Hugo, MN 55038
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    6845 20th Ave
    Centerville, MN 55038-7760
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.