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Property profile & analytics
FOR LEASE
Distribution centers
1284 Corporate Center Dr Eagan, MN 55121
Entity Owned
2-yr Hold
Free & Clear
Property ID
US46-0675742
For Lease
1 / 2
$12,400,000
1284 Corporate Center Dr, Eagan, MN 55121
View Listing →
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1985
Construction
CONCRETE
Total area
85,600 SF
Lot
6.8 ac (296,208 SF)
Zoning code
R
APN
10-22506-01-020
UPID
US46-0675742
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
$10.04M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$8.50M
Blend (final)
Blend
$12.40M
Owner & transaction history
Arepiv Minn I Industrial LLC · 2 yrs held
Arepiv Minn I Industrial LLC
since 2023
Last sale
$12.8M
2 recorded transactions
Zoning & alternative use
R · Eagan, MN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$18.1M
+83.2%
Auto repair, garage
$17.4M
+75.9%
Neighborhood: shopping center
$14.4M
+45.7%
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 Eagan submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Eagan 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
$12,980,000
ML approach
$10,040,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$9,860,000
Current use
RESTAURANT
$18,070,000
Change: +83% · Conversion: Difficult
AUTO REPAIR, GARAGE
$17,350,000
Change: +76% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$14,365,000
Change: +46% · Conversion: Moderate
MEDICAL BUILDING
$12,610,000
Change: +28% · Conversion: Difficult
OFFICE BUILDING
$9,370,000
Change: -5% · Conversion: Difficult
RETAIL STORES
$8,750,000
Change: -11% · Conversion: Moderate
Blend value · Realmo final
$12.40M
Range $11.16M – $13.64M · ±10% · vs last sale $12.75M (Dec 12 2023)
Last sale anchor
$12.75M
Dec 12 2023
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
$145 / 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
$140,138
Tax year 2023
Assessed value
$5,284,300
Assessed 2022
Previous assessed
$5,076,300
+4.1% YoY
Effective rate
2.65%
On assessed value
Assessed land
$1,333,600
Assessed improvement
$3,950,700
Land market value
$1,333,600
Improvement market value
$3,950,700
Total market value
$5,284,300
Applied tax rate
10.0000
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
1985
Construction
CONCRETE
Heating
NONE
Bathrooms
12
Total area
85,600 SF
Lot
6.8 ac (296,208 SF)
Zoning code
R
APN
10-22506-01-020
UPID
US46-0675742
Jurisdiction
DAKOTA
Zoning & alternative use
R · Eagan, MN
Zoning R · permitted uses
R · Eagan, MN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Eagan. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$9.9M
RESTAURANT
Est. value
$18.1M
AUTO REPAIR, GARAGE
Est. value
$17.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$14.4M
MEDICAL BUILDING
Est. value
$12.6M
OFFICE BUILDING
Est. value
$9.4M
RETAIL STORES
Est. value
$8.8M
WAREHOUSE, STORAGE Current
RESTAURANT
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
OFFICE BUILDING
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
1985
Construction
CONCRETE
Heating
NONE
Bathrooms
12
Lot
6.8 ac
Current owner
From public records · entity-resolved
Arepiv Minn I Industrial LLC
Entity
Free & Clear · 2 yrs held
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 18, 2025
—
Arepiv Minn I Industrial LLC
—
Deed
related
$99,110,000 · Areit Trs Lender LLC
Dec 12, 2023
$12,750,000
Arepiv Minn I Industrial LLC
Oakview Eagan Investors LLC
Limited Warranty Deed
—
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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