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Property profile & analytics
OFF-MARKET
Estimated value
$2,180,000
Office Spaces
15650 Cedar Ave, Apple Valley, MN 55124-7283
Entity Owned
Free & Clear
Property ID
US46-0824137
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1994
Construction
CONCRETE
Total area
19,749 SF
Lot
2.95 ac (128,502 SF)
APN
01-16252-01-010
UPID
US46-0824137
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
$2.47M
Blend (final)
Blend
$2.18M
Owner & transaction history
Holiday Stationstores LLC
Holiday Stationstores LLC
since 2025
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$3.3M
+53.3%
Medical building
$2.9M
+34.6%
Warehouse, storage
$2.3M
+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
$2,160,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$3,315,000
Change: +53% · Conversion: Difficult
MEDICAL BUILDING
$2,910,000
Change: +35% · Conversion: Easy
WAREHOUSE, STORAGE
$2,275,000
Change: +5% · Conversion: Difficult
RETAIL STORES
$2,020,000
Change: -7% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$1,815,000
Change: -16% · Conversion: Easy
Blend value · Realmo final
$2.18M
Range $1.96M – $2.40M · ±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
$110 / 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
$81,752
Tax year 2023
Assessed value
$2,853,700
Assessed 2022
Previous assessed
$2,739,300
+4.2% YoY
Effective rate
2.86%
On assessed value
Assessed land
$1,167,700
Assessed improvement
$1,686,000
Land market value
$1,167,700
Improvement market value
$1,686,000
Total market value
$2,853,700
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
Off-Market
Year built
1994
Construction
CONCRETE
Heating
NONE
Bathrooms
11
Total area
19,749 SF
Lot
2.95 ac (128,502 SF)
APN
01-16252-01-010
UPID
US46-0824137
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
$2.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.3M
MEDICAL BUILDING
Est. value
$2.9M
WAREHOUSE, STORAGE
Est. value
$2.3M
RETAIL STORES
Est. value
$2.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.8M
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
1994
Construction
CONCRETE
Heating
NONE
Bathrooms
11
Lot
2.95 ac
Current owner
From public records · entity-resolved
Holiday Stationstores LLC
Entity
Free & Clear · 0 yrs held
Mailing address
PO BOX 59318, MINNEAPOLIS, MN 55459-0318
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 15, 2025
$1,238,500
Holiday Stationstores LLC
B And S Land Development LLC
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.
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