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Property profile & analytics
FOR SALE
Office Spaces
15290 Pennock Ln Apple Valley, MN 55124
Entity Owned
Free & Clear
Property ID
US46-0667734
For Sale
1 / 2
$4,700,000
15290 Pennock Ln, Apple Valley, MN 55124
View Listing →
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1981
Construction
CONCRETE
Total area
30,888 SF
Lot
5.01 ac (218,236 SF)
Zoning code
R
APN
01-11783-01-010
UPID
US46-0667734
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.39M
Blend (final)
Blend
$3.21M
Owner & transaction history
GROUP HEALTH PLAN INC
GROUP HEALTH PLAN INC
Zoning & alternative use
R · Apple Valley, MN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$5.2M
+53.3%
Medical building
$4.6M
+34.6%
Warehouse, storage
$3.6M
+5.2%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,380,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$5,185,000
Change: +53% · Conversion: Difficult
MEDICAL BUILDING
$4,550,000
Change: +35% · Conversion: Easy
WAREHOUSE, STORAGE
$3,560,000
Change: +5% · Conversion: Difficult
RETAIL STORES
$3,160,000
Change: -7% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$2,840,000
Change: -16% · Conversion: Easy
Blend value · Realmo final
$3.21M
Range $2.88M – $3.53M · ±10%
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
$104 / 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
$112,816
Tax year 2023
Assessed value
$3,920,400
Assessed 2022
Previous assessed
$3,657,600
+7.2% YoY
Effective rate
2.88%
On assessed value
Assessed land
$1,920,600
Assessed improvement
$1,999,800
Land market value
$1,920,600
Improvement market value
$1,999,800
Total market value
$3,920,400
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 Spaces
Use group
CONDOMINIUM OFFICES
Status
For Sale
Year built
1981
Construction
CONCRETE
Heating
NONE
Bathrooms
14
Total area
30,888 SF
Lot
5.01 ac (218,236 SF)
Zoning code
R
APN
01-11783-01-010
UPID
US46-0667734
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
OFFICE BUILDING Current
Est. value
$3.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$5.2M
MEDICAL BUILDING
Est. value
$4.6M
WAREHOUSE, STORAGE
Est. value
$3.6M
RETAIL STORES
Est. value
$3.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.8M
OFFICE BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
WAREHOUSE, STORAGE
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
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
1981
Construction
CONCRETE
Heating
NONE
Bathrooms
14
Lot
5.01 ac
Current owner
From public records · entity-resolved
GROUP HEALTH PLAN INC
Entity
Free & Clear · 0 yrs held
Mailing address
PO BOX 16115, SAINT LOUIS PARK, MN 55416-0115
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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?”
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