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Property profile & analytics
FOR SALE
Industrial properties
1385 Mendota Heights Rd, Mendota Heights, MN 55120
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US46-0925388
For Sale
1 / 2
$4,430,000
1385 Mendota Heights Rd, Mendota Heights, MN 55120
View Listing →
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1979
Construction
CONCRETE
Total area
32,408 SF
Lot
1.04 ac (45,302 SF)
Zoning code
R
APN
27-48300-02-072
UPID
US46-0925388
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
$2.93M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.08M
Owner & transaction history
Msp Venture Group LLC · 3 yrs held
Msp Venture Group LLC
since 2022
Last sale
$3.3M
7 recorded transactions
Zoning & alternative use
R · Mendota Heights, MN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$4.8M
+117.8%
Warehouse, storage
$3.7M
+70.3%
Office building
$3.6M
+61.9%
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
$2,875,000
ML approach
$2,925,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$2,190,000
Current use
MEDICAL BUILDING
$4,775,000
Change: +118% · Conversion: Difficult
WAREHOUSE, STORAGE
$3,735,000
Change: +70% · Conversion: Easy
OFFICE BUILDING
$3,550,000
Change: +62% · Conversion: Difficult
RETAIL STORES
$3,315,000
Change: +51% · Conversion: Moderate
Blend value · Realmo final
$3.08M
Range $2.77M – $3.38M · ±10% · vs last sale $3.25M (Aug 18 2022)
Last sale anchor
$3.25M
Aug 18 2022
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
$95 / 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
$9,214
Tax year 2023
Assessed value
$335,100
Assessed 2022
Previous assessed
$335,100
+0.0% YoY
Effective rate
2.75%
On assessed value
Assessed land
$185,800
Assessed improvement
$149,300
Land market value
$185,800
Improvement market value
$149,300
Total market value
$335,100
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
For Sale
Year built
1979
Construction
CONCRETE
Heating
NONE
Bathrooms
4
Total area
32,408 SF
Lot
1.04 ac (45,302 SF)
Zoning code
R
APN
27-48300-02-072
UPID
US46-0925388
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
INDUSTRIAL (GENERAL) Current
Est. value
$2.2M
MEDICAL BUILDING
Est. value
$4.8M
WAREHOUSE, STORAGE
Est. value
$3.7M
OFFICE BUILDING
Est. value
$3.6M
RETAIL STORES
Est. value
$3.3M
INDUSTRIAL (GENERAL) Current
MEDICAL BUILDING
WAREHOUSE, STORAGE
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
1979
Construction
CONCRETE
Heating
NONE
Bathrooms
4
Lot
1.04 ac
Current owner
From public records · entity-resolved
Msp Venture Group LLC
Entity
Mailing address
19791 FLAMINGO ST NW, OAK GROVE, MN 55011-9348
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 18, 2022
$3,250,000
Msp Venture Group LLC
Mfc Properties 25 LLC
Warranty Deed
$2,600,000 · Village Bank
Oct 6, 2017
—
Mfc Properties 25 LLC
—
Trustees Deed
related
$1,750,000 · Minnwest Bk
Jun 5, 2017
$1,649,000
Mfc Properties 25 LLC
1385 Mendota Heights Road Prop
Grant Deed
$1,550,000 · Minnwest Bk
Dec 8, 2004
$500
1385 Mendota Heights Road Prop
Khieu,kong L & Rachana C
Quit Claim Deed
related
—
Oct 8, 2004
$1,725,000
Kong Khieu
Cat Tail Realty
Warranty Deed
—
May 18, 2004
$1,725,000
Kong Khieu
Cat Tail Realty
Grant Deed
—
May 18, 2004
—
1385 Mendota Heights Road Prop
Khieu,kong L & Rachana C
Grant Deed
related
—
—
—
1385 Mendota Heights Road Prop
—
Deed Of Trust
related
$1,270,533 · Associated Bank
—
—
1385 Mendota Heights Road LLC
—
Deed Of Trust
related
$1,550,000 · Associated Bank Minnesota
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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