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Property profile & analytics
OFF-MARKET
Estimated value
$1,870,000
Office buildings
15000 Garrett Ave Apple Valley, MN 55124-9018
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US46-0654160
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1987
Construction
CONCRETE
Total area
5,436 SF
Lot
0.58 ac (25,265 SF)
Zoning code
R
APN
01-11731-01-010
UPID
US46-0654160
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
$1.87M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.87M
Owner & transaction history
Mmpf III Woodbury Mn LLC · 2 yrs held
Mmpf III Woodbury Mn LLC
since 2024
Last sale
$1.9M
4 recorded transactions
Zoning & alternative use
R · Apple Valley, MN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.2M
+92.8%
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 Apple Valley submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Apple Valley 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
$1,870,000
ML approach
$1,870,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$1,150,000
Change: +93% · Conversion: Moderate
Blend value · Realmo final
$1.87M
Range $1.68M – $2.06M · ±10% · vs last sale $1.87M (Feb 23 2024)
Last sale anchor
$1.87M
Feb 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
$344 / 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
$21,748
Tax year 2023
Assessed value
$770,400
Assessed 2022
Previous assessed
$615,700
+25.1% YoY
Effective rate
2.82%
On assessed value
Assessed land
$361,500
Assessed improvement
$408,900
Land market value
$361,500
Improvement market value
$408,900
Total market value
$770,400
Applied tax rate
1.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1987
Construction
CONCRETE
Heating
NONE
Bathrooms
3
Total area
5,436 SF
Lot
0.58 ac (25,265 SF)
Zoning code
R
APN
01-11731-01-010
UPID
US46-0654160
Jurisdiction
DAKOTA
Zoning & alternative use
R · Apple Valley, MN
Zoning R · permitted uses
R · Apple Valley, MN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Apple Valley. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$1.2M
RESTAURANT
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
1987
Construction
CONCRETE
Heating
NONE
Bathrooms
3
Lot
0.58 ac
Current owner
From public records · entity-resolved
Mmpf III Woodbury Mn LLC
Entity
Mailing address
1826 RIV RDG RD, HUDSON, WI 54016-2270
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 23, 2024
$1,868,700
Mmpf III Woodbury Mn LLC
Obgyn Consultants PLLC
Limited Warranty Deed
$141,000,000 · Capital One Bank NA
Feb 4, 2021
$700,000
Obgyn Consultants PLLC
Tentinger Properties Of Av LLC
Warranty Deed
$450,000 · Platinum Bank
Dec 23, 2013
$549,000
Tentinger Properties Of Av LLC
Mardell,michael C & Sarah S
Warranty Deed
$294,000 · Minnwest Bank Metro
—
—
Tentinger Properties Of Av LLC
—
Deed Of Trust
related
$244,000 · Spedco
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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