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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    12700 Nicollet Ave Burnsville, MN 55337

    • Apartment buildings
    • 27,922 SF
    • 2.02 lot acres
    For Lease
    View listing
    $22 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US46-0606449
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Grande Market Place Apartments / Apartment Complex
    • Khouri Salwa MD / Doctor
    • Steven Swanson - Thrivent / Financial Consultant / Financial Planner
    • Skin Perfect Beauty / Waxing Hair Removal Service / Facial Spa
    • Mark Ohlmann - Thrivent / Financial Planner / Financial Consultant

    Property Details for 12700 Nicollet Ave

    Year built
    2003
    Construction
    WOOD
    Lot size
    2.02 lot acres
    Property size
    27,922 SF
    Property type
    Apartment buildings
    APN
    02-33325-01-030
    APU
    23332501030

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,224,000
      Market price range: $1.44M - $3.22M
      AI Estimate
      $1,842,000
      Market price range: $240k - $1.84M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $2,380,000
      Current use
      AUTO REPAIR, GARAGE
      $4,765,000
      Change: +100% Conversion: Difficult
      WAREHOUSE, STORAGE
      $4,255,000
      Change: +79% Conversion: Difficult
      RETAIL STORES
      $3,980,000
      Change: +67% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $3,235,000
      Change: +36% Conversion: Difficult
      OFFICE BUILDING
      $3,195,000
      Change: +34% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Burnsville
    County
    Dakota
    State
    Minnesota
    Longitude
    -93.2784
    Latitude
    44.7731
    CBSA code
    33460
    CBSA name
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $204,298
    $942,500
    $16,863,800
    $17,806,300
    -
    $942,500
    $16,863,800
    $17,806,300

    Comparable in this City

    • Value Estimation
      $10,355,000
      289,920 SF

      13000 Harriet S Ave

      APARTMENT HOUSE (100+ UNITS) • 289,920 SF
      13000 Harriet S Ave, Burnsville, MN 55337-2695
      View Details
    • Value Estimation by Request
      12,096 SF

      2805 Rolling Oak Rd

      APARTMENT HOUSE (5+ UNITS) • 12,096 SF
      2805 Rolling Oak Rd, Burnsville, MN 55337-3362
      View Details
    • Value Estimation
      $5,705,000
      56,016 SF

      1000 Burnsville Pkwy

      APARTMENT HOUSE (100+ UNITS) • 56,016 SF
      1000 Burnsville Pkwy, Burnsville, MN 55337-5819
      View Details
    • Value Estimation
      $680,000
      6,114 SF

      14151 Portland Ave

      APARTMENT HOUSE (5+ UNITS) • 6,114 SF
      14151 Portland Ave, Burnsville, MN 55337-4665
      View Details
    • Value Estimation by Request
      3,654 SF

      111 Travelers Trl

      APARTMENT HOUSE (5+ UNITS) • 3,654 SF
      111 Travelers Trl, Burnsville, MN 55337-1637
      View Details
    • Value Estimation by Request
      3,774 SF

      12837 Briar Ct

      APARTMENT HOUSE (5+ UNITS) • 3,774 SF
      12837 Briar Ct, Burnsville, MN 55337-5814
      View Details

    Similar Nearby for Sale

    • $170,000
      1,246 SF

      Bright Condo in 55+ Community

      Well-maintained 3-bedroom condo with amenities in a vibrant 55+ community.
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      View Details
    • $170,000
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      Top-Floor Condo in 55+ Community

      Charming 2-bedroom condo with nature views and updated features.
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      2-bedroom, 2-bathroom condo in Burnsville with many amenities.
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      Updated Condo with Planned Enhancements

      Move-in ready condo with community amenities and planned cosmetic updates.
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    • $299,500
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      Updated Townhome in Quiet Community

      Updated 3-bed, 2-bath townhome with modern amenities and convenient location.
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    Similar Nearby for Lease

    • Contact for pricing
      50,400 SF

      American Business Center I & II

      Burnsville, MN Office & Industrial Space
      2960 Judicial Rd, Burnsville, MN 55337
      View Details
    • Contact for pricing
      53,513 SF

      Gateway Business Park Warehouse Space

      Burnsville, MN Warehouse for Lease
      419-421 Travelers Trl, Burnsville, MN 55337
      View Details
    • $1,800 /Mo
      256,075 SF

      Burnsville Retail/Office Suites Available

      Up to 8,000 SF of retail or office space available.
      12301 South Nicollet Ave, Burnsville, MN 55337
      View Details
    • Contact for pricing

      Industrial Property Fully Leased

      Industrial property in Burnsville, MN, currently 100% leased.
      12170-12190 County Road 11, Burnsville, MN 55337
      View Details
    • Contact for pricing
      2,000 SF

      Burnsville Retail Space Available

      2000 SF retail space for rent in Burnsville.
      14001 Aldrich Ave S, Burnsville, MN 55337
      View Details
    • $10 SF/Yr
      20,146 SF

      Burnsville Warehouse with Drive-In Loading

      27,538 SF warehouse with convenient highway access for lease.
      12701 Sheridan Ave, Burnsville, MN 55337
      View Details
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    12700 Nicollet Ave
    Burnsville, MN 55337
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    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
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