Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$735,000
Office Spaces
11175 205th W St Lakeville, MN 55044-9827
Entity Owned
12-yr Hold
Free & Clear
Property ID
US46-0762123
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
2007
Construction
WOOD FRAME
Total area
5,040 SF
Lot
0.87 ac (37,897 SF)
APN
22-41618-01-020
UPID
US46-0762123
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
-
Shazam Atm Atm
-
Dillman Clinic & Lab: Internal Medicine/Pediatrics Medical Clinic
-
Clark EssentialClean Lakeville General Contractor Renovation Specialist
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.03M
Comparable Approach
Comparable
$943k
Blend (final)
Blend
$735k
Owner & transaction history
Kenrick Corner LLC · 12 yrs held
Kenrick Corner LLC
since 2014
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$1.0M
+44.7%
Restaurant
$980,000
+41.6%
Auto repair, garage
$860,000
+24.6%
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 Lakeville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lakeville 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%
$1,110,000
6.5%
$1,025,000
7%
$955,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$690,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,000,000
Change: +45% · Conversion: Difficult
RESTAURANT
$980,000
Change: +42% · Conversion: Moderate
AUTO REPAIR, GARAGE
$860,000
Change: +25% · Conversion: Difficult
WAREHOUSE, STORAGE
$770,000
Change: +11% · Conversion: Difficult
RETAIL STORES
$720,000
Change: +4% · Conversion: Moderate
Blend value · Realmo final
$735k
Range $662k – $809k · ±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
$146 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$29,038
Tax year 2022
Assessed value
$1,055,400
Assessed 2022
Previous assessed
$1,055,400
+0.0% YoY
Effective rate
2.75%
On assessed value
Assessed land
$374,800
Assessed improvement
$680,600
Land market value
$374,800
Improvement market value
$680,600
Total market value
$1,055,400
Applied tax rate
22.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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
Office Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
2007
Construction
WOOD FRAME
Heating
NONE
Buildings
2
Bathrooms
4
Total area
5,040 SF
Lot
0.87 ac (37,897 SF)
APN
22-41618-01-020
UPID
US46-0762123
Jurisdiction
DAKOTA
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
OFFICE BUILDING Current
Est. value
$690,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.0M
RESTAURANT
Est. value
$980,000
AUTO REPAIR, GARAGE
Est. value
$860,000
WAREHOUSE, STORAGE
Est. value
$770,000
RETAIL STORES
Est. value
$720,000
OFFICE BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
RESTAURANT
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
RETAIL STORES
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
2007
Construction
WOOD FRAME
Heating
NONE
Buildings
2
Bathrooms
4
Lot
0.87 ac
Current owner
From public records · entity-resolved
Kenrick Corner LLC
Entity
Free & Clear · 12 yrs held
Mailing address
9798 185TH ST W, LAKEVILLE, MN 55044-9623
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 7, 2014
$1,177,583
Kenrick Corner LLC
Sheriff Of Dakota County
Grant Deed
—
May 7, 2014
$1,177,585
Lakeville Commercial Inv LLC
Kenrick Corner LLC
Warranty Deed
$300,000 · Brigadoon LLC
Mar 19, 2014
—
Citizens Alliance Bk
New Market Bk
Trustees Deed
related
—
Nov 7, 2013
$1,144,727
New Market Bk
Deputy Sheriff Of Dakota County
Trustees Deed
related
—
—
—
Lakeville Commercial Inv LLC
—
Deed Of Trust
related
$400,000 · Merchants 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 11175 205th W St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
