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Property profile & analytics
OFF-MARKET
Estimated value
$535,000
Parking lots & garages
11484 Fairfield W Rd 301 Minnetonka, MN 55305-7440
Individually Owned
3-yr Hold
Free & Clear
Property ID
US46-1054301
Property profile
Verified
Property type
Parking lots & garages
Use group
RESIDENTIAL PARKING GARAGE
Year built
1999
Lot
0.95 ac (41,287 SF)
Zoning code
PID
APN
02-117-22-13-0351
UPID
US46-1054301
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
$505k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$535k
Owner & transaction history
Arlene Reich · 3 yrs held
Arlene Reich
since 2023
Last sale
$579,900
3 recorded transactions
Zoning & alternative use
PID · Minnetonka, MN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of the planned I-394 district is to establish a comprehensive, planned framework for development within the I-394 corridor.
Zone name
Planned I 394 District
General category
UNKNOWN
Zone area
814.83 ac
Source
Realmo
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 Minnetonka submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Minnetonka 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
$475,000
ML approach
$505,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$535k
Range $482k – $589k · ±10% · vs last sale $580k (Jun 10 2025)
Last sale anchor
$580k
Jun 10 2025
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
—
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
$128
Tax year 2023
Assessed value
$10,000
Assessed 2023
Previous assessed
$10,000
+0.0% YoY
Effective rate
1.28%
On assessed value
Assessed land
$5,000
Assessed improvement
$5,000
Land market value
$5,000
Improvement market value
$5,000
Total market value
$10,000
Applied tax rate
270.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
Parking lots & garages
Use group
RESIDENTIAL PARKING GARAGE
Status
Off-Market
Year built
1999
Heating
NONE
Cooling
NONE
Stories
1
Lot
0.95 ac (41,287 SF)
Zoning code
PID
APN
02-117-22-13-0351
UPID
US46-1054301
Jurisdiction
HENNEPIN
Zoning & alternative use
PID · Minnetonka, MNZoning PID · permitted uses
PID · Minnetonka, MN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of the planned I-394 district is to establish a comprehensive, planned framework for development within the I-394 corridor.
Zone name
Planned I 394 District
General category
UNKNOWN
Zone area
814.83 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1999
Heating
NONE
Cooling
Yes
Stories
1
Lot
0.95 ac
Current owner
From public records · entity-resolved
Arlene Reich
Individual
Free & Clear · 3 yrs held
Mailing address
11484 FAIRFIELD RD W UNIT #301, MINNETONKA, MN 55305-7440
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
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
Feb 3, 2023
$475,000
Arlene Reich
Muriel B Ryden
Warranty Deed
—
Feb 3, 2023
—
Muriel B Ryden
Joh S Ryden
Affidavit Of Death Of Joint Tenant
related
—
Mar 9, 2009
$500
Muriel B Ryden
Ryden,john S & Muriel B
Warranty Deed
related
—
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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