Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2973 Water Tower Pl Chanhassen, MN 55317
    Back to Search
    Property profile & analytics

    2973 Water Tower Pl, Chanhassen, MN 55317

    View on Map
    • Industrial properties
    • 6,356 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • LL Flooring / Carpet & Flooring Store / Hardware & Home Improvement

    Property Details for 2973 Water Tower Pl

    Property type
    Industrial properties
    Property subtype
    Flex space

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Chanhassen
    County
    Carver
    State
    Minnesota
    Longitude
    -93.596
    Latitude
    44.8594

    Comparable in this City

    • Value Estimation by Request
      1.72 Acres

      Chanhassen, MN 55317

      INDUSTRIAL (GENERAL)
      Chanhassen, MN 55317
      View Details
    • Value Estimation by Request
      20,520 SF

      2915 Water Tower Pl

      Distribution properties
      2915 Water Tower Pl, Chanhassen, MN 55317
      View Details
    • Value Estimation by Request
      1.78 Acres

      7580 Quattro Dr

      INDUSTRIAL (GENERAL)
      7580 Quattro Dr, Chanhassen, MN 55317-9306
      View Details
    • Value Estimation by Request
      2.37 Acres

      7600 Quattro Dr

      INDUSTRIAL (GENERAL)
      7600 Quattro Dr, Chanhassen, MN 55317-9306
      View Details
    • Value Estimation
      $540,000
      18.14 Acres

      18800 78th St

      INDUSTRIAL (GENERAL)
      18800 78th St, Chanhassen, MN 55317-9310
      View Details
    • Value Estimation by Request
      569 SF

      2323 Lk Lucy Rd

      INDUSTRIAL (GENERAL)
      2323 Lk Lucy Rd, Chanhassen, MN 55317
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      16,704 SF

      Chanhassen Industrial Property For Sale

      Industrial property in Chanhassen with easy highway access.
      8345 Commerce Dr, Chanhassen, MN 55317
      View Details
    • $2,195,000
      1.25 Acres

      Christmas Lake Luxury Homesite

      Premier 1.25-acre luxury homesite with 120 feet of shoreline.
      970 Pleasant View Rd, Chanhassen, MN 55317
      View Details
    • $450,000
      0.44 Acres

      Half-Acre Wooded Lot Opportunity

      Half-acre wooded lot near Lotus Lake in Fox Ridge.
      601 Fox Hill Dr, Chanhassen, MN 55317
      View Details
    • Contact for pricing

      Land at Highway Interchange

      Commercial land at the intersection of two highways.
      8971 Crossroads Blvd, Chanhassen, MN 55317
      View Details
    • $599,900
      9.55 Acres

      Chanhassen Land with Development Potential

      9.55 acres in Chanhassen, guided for residential development.
      Tbd County Rd 101, Chanhassen, MN 55317
      View Details
    • New
      Contact for pricing
      2,600 SF

      Chanhassen Office Suites Available

      Flexible office spaces in a well-maintained Chanhassen building.
      7965 Stone Creek Dr, Chanhassen, MN 55317
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      9,344 SF

      Chanhassen Warehouse with Highway Signage

      Flexible warehouse space with prominent signage and convenient highway access.
      2959-2989 Water Tower Pl, Chanhassen, MN 55317
      View Details
    • Contact for pricing
      22,368 SF

      Chanhassen Flex Space Available

      Flex space ideal for tech, R&D, or light manufacturing.
      1490 Lake Dr W, Chanhassen, MN 55317
      View Details
    • Contact for pricing
      22,368 SF

      Chanhassen Flex Space Available

      Flex space ideal for tech, R&D, or light manufacturing.
      1460 Lake Dr West, Chanhassen, MN 55317
      View Details
    • Contact for pricing
      53,612 SF

      Industrial Space in Chanhassen

      53,612 SF industrial property available for rent.
      8700 Shelby Ct, Chanhassen, MN 55317
      View Details
    • Contact for pricing
      5,037 SF

      Chanhassen Warehouse Space Available

      8,403 SF warehouse space for rent in Chanhassen, MN.
      1341-1365 Park Rd, Chanhassen, MN 55317
      View Details
    • Contact for pricing
      31,200 SF

      Functional Warehouse Space Available

      31,200 SF warehouse space for sublease in Chanhassen.
      8085-8175 Century Blvd, Chanhassen, MN 55317
      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.
    2973 Water Tower Pl
    Chanhassen, MN 55317
    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

    Thank You for Inquiry
    2973 Water Tower Pl, Chanhassen, MN, 55317
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!