New search
Property profile & analytics
OFF-MARKET
Estimated value
$635,000
Office buildings
1505 Southcross W Dr 406 Burnsville, MN 55306-7014
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US46-1971270
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2006
Total area
2,544 SF
APN
02-22551-01-406
UPID
US46-1971270
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
Current use
Occupant on record · Public records
-
Shanise Aesthetics Hair Salon
-
Legacy Gold (Bike/Boat/Book/etc) Store
-
Wellnest Integrative Health Alternative Medicine Practice
-
Golden Heart- Jewelry Buyer & Gold and Silver Big Box & Wholesale Store (Bike/Boat/Book/etc) Store
-
Golden Heart (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$610k
CAP Approach
CAP
$520k
Comparable Approach
Comparable
$398k
Blend (final)
Blend
$635k
Owner & transaction history
Tompkins Investments LLC · 3 yrs held
Tompkins Investments LLC
since 2023
Last sale
$640,000
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$505,000
+29.5%
Auto repair, garage
$435,000
+11.5%
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
$650,000
ML approach
$610,000
CAP Approach
CAP Return
Estimation
6%
$560,000
6.5%
$520,000
7%
$480,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$390,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$505,000
Change: +30% · Conversion: Difficult
AUTO REPAIR, GARAGE
$435,000
Change: +12% · Conversion: Difficult
WAREHOUSE, STORAGE
$385,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$635k
Range $572k – $699k · ±10% · vs last sale $640k (Apr 6 2023)
Last sale anchor
$640k
Apr 6 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
$250 / 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
$6,904
Tax year 2023
Assessed value
$235,900
Assessed 2022
Previous assessed
$235,900
+0.0% YoY
Effective rate
2.93%
On assessed value
Assessed land
$32,000
Assessed improvement
$203,900
Land market value
$32,000
Improvement market value
$203,900
Total market value
$235,900
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2006
Heating
NONE
Total area
2,544 SF
APN
02-22551-01-406
UPID
US46-1971270
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
OFFICE BUILDING Current
Est. value
$390,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$505,000
AUTO REPAIR, GARAGE
Est. value
$435,000
WAREHOUSE, STORAGE
Est. value
$385,000
OFFICE BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
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
2006
Heating
NONE
Current owner
From public records · entity-resolved
Tompkins Investments LLC
Entity
Mailing address
7368 236TH ST E, LAKEVILLE, MN 55044-9497
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
Apr 6, 2023
$640,000
Tompkins Investments LLC
Beam Properties LLC
Limited Warranty Deed
$480,000 · Citizens Bank Minnesota
Sep 19, 2018
$820,000
Beam Properties LLC
Citizens Community Federal NA
Grant 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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1505 Southcross W Dr, Unit 406?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
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.
