New search
Property profile & analytics
FOR LEASE
Distribution centers
12125 Nicollet Ave, Burnsville, MN 55337
Entity Owned
12-yr Hold
~
Est. High Equity
Property ID
US46-0904826
For Lease
$11,580,000
12125 Nicollet Ave, Burnsville, MN 55337
View Listing →
Property summary
AI-generated overview
The Nicollet Business Center offers a prime industrial warehouse opportunity in Dakota County. This multi-tenant property boasts a total of 118,125 square feet, with 16,935 square feet currently available as an end-cap space. Built in 1997, the building features a desirable 24-foot ceiling height, ideal for various warehousing and distribution needs. The available space provides excellent access with one dock-high door and two drive-in doors. The property sits on 12.4 acres of land, offering ample room for maneuvering and potential expansion. Power is robust, with 3,000 amps, 277/480V, and 3-phase service. Annual property taxes are $4.55 per square foot. This location presents a unique chance to secure a well-maintained warehouse space in a strategic location. The available space is perfect for businesses seeking efficient operations and convenient access. Don't miss this opportunity to establish your business in this established industrial park.
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1997
Construction
CONCRETE
Total area
118,400 SF
Lot
12.4 ac (540,144 SF)
APN
02-51356-01-020
UPID
US46-0904826
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
by Request
Blend (final)
Blend
$11.58M
Owner & transaction history
Viking Indl Fund Portfolio Ll · 12 yrs held
Viking Indl Fund Portfolio Ll
since 2013
Last sale
$12.8M
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Burnsville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Burnsville 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
WAREHOUSE, STORAGE
$18,035,000
Current use
RETAIL STORES
$16,875,000
Change: -6% · Conversion: Moderate
Blend value · Realmo final
$11.58M
Range $10.42M – $12.74M · ±10% · vs last sale $12.75M (Jan 23 2024)
Last sale anchor
$12.75M
Jan 23 2024
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
$98 / 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
$242,320
Tax year 2023
Assessed value
$8,294,600
Assessed 2022
Previous assessed
$8,006,800
+3.6% YoY
Effective rate
2.92%
On assessed value
Assessed land
$2,162,700
Assessed improvement
$6,131,900
Land market value
$2,162,700
Improvement market value
$6,131,900
Total market value
$8,294,600
Applied tax rate
2.0000
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
For Lease
Year built
1997
Construction
CONCRETE
Heating
NONE
Bathrooms
11
Total area
118,400 SF
Lot
12.4 ac (540,144 SF)
APN
02-51356-01-020
UPID
US46-0904826
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
WAREHOUSE, STORAGE Current
Est. value
$18.0M
RETAIL STORES
Est. value
$16.9M
WAREHOUSE, STORAGE Current
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
1997
Construction
CONCRETE
Heating
NONE
Bathrooms
11
Lot
12.4 ac
Current owner
From public records · entity-resolved
Viking Indl Fund Portfolio Ll
Entity
Mailing address
5201 EDEN AVE STE #50, EDINA, MN 55436-2367
Ownership since
2013
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
Mar 14, 2022
—
G&i Ix Nicollet
—
Deed
related
—
Feb 14, 2022
—
G&i Ix Nicollet LLC
—
Deed
related
$22,500,000 · Citizens Bank NA
Sep 26, 2013
$7,290,000
Viking Indl Fund Portfolio Ll
Iret Properties
Warranty Deed
related
$19,040,000 · Transamerica Fin'l Life Ins Co
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?”
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.
