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Property profile & analytics
FOR LEASE
Office buildings
1120 Centre Pointe Dr, Mendota Heights, MN 55120
Entity Owned
6-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US46-0543917
For Lease
1 / 4
$2,910,000
1120 Centre Pointe Dr, Mendota Heights, MN 55120
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1998
Construction
CONCRETE
Total area
31,038 SF
Lot
2.83 ac (123,275 SF)
Zoning code
R
APN
27-88100-01-010
UPID
US46-0543917
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.53M
Blend (final)
Blend
$2.91M
Owner & transaction history
Lexington Busn Pk III LLC · 6 yrs held
Lexington Busn Pk III LLC
since 2019
3 recorded transactions
Zoning & alternative use
R · Mendota Heights, MN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$4.6M
+34.6%
Warehouse, storage
$3.6M
+5.2%
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 Mendota Heights submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mendota Heights 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
OFFICE BUILDING
$3,400,000
Current use
MEDICAL BUILDING
$4,575,000
Change: +35% · Conversion: Easy
WAREHOUSE, STORAGE
$3,575,000
Change: +5% · Conversion: Difficult
RETAIL STORES
$3,175,000
Change: -7% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$2,855,000
Change: -16% · Conversion: Easy
Blend value · Realmo final
$2.91M
Range $2.62M – $3.20M · ±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
$94 / 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
$74,088
Tax year 2023
Assessed value
$2,584,300
Assessed 2022
Previous assessed
$2,584,300
+0.0% YoY
Effective rate
2.87%
On assessed value
Assessed land
$575,400
Assessed improvement
$2,008,900
Land market value
$575,400
Improvement market value
$2,008,900
Total market value
$2,584,300
Applied tax rate
27.0000
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 buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1998
Construction
CONCRETE
Heating
NONE
Bathrooms
6
Total area
31,038 SF
Lot
2.83 ac (123,275 SF)
Zoning code
R
APN
27-88100-01-010
UPID
US46-0543917
Jurisdiction
DAKOTA
Zoning & alternative use
R · Mendota Heights, MN
Zoning R · permitted uses
R · Mendota Heights, MN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Mendota Heights. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$3.4M
MEDICAL BUILDING
Est. value
$4.6M
WAREHOUSE, STORAGE
Est. value
$3.6M
RETAIL STORES
Est. value
$3.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.9M
OFFICE BUILDING Current
MEDICAL BUILDING
WAREHOUSE, STORAGE
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
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
1998
Construction
CONCRETE
Heating
NONE
Bathrooms
6
Lot
2.83 ac
Current owner
From public records · entity-resolved
Lexington Busn Pk III LLC
Entity
Mailing address
5201 EDEN AVE STE #50, EDINA, MN 55436-2367
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 11, 2019
—
Lexington Busn Pk III LLC
—
Deed
related
$1,940,000 · North American Bkng
—
—
Lexington Busn Pk III LLC
—
Deed Of Trust
related
$1,940,000 · North American Bkng
—
—
Lexington Busn Park III LLC
—
Deed Of Trust
related
$1,310,000 · Stonebridge Bank
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?”
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