Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1591 Park Rdb Chanhassen, MN 55317-9594

    • Commercial real estate
    • 5,952 SF
    • 2.39 lot acres
    OFF-MARKET
    Last Sale
    May 03, 2023
    $1,900,000
    Value Estimations
    $1,905,000
    Show details
    Cap Rate Potential
    3.8%
    Commercial real estate
    Location Intelligence
    Property ID
    US46-1186463
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Interstate Roadrunner / Trucking Company
    • Chanhassen Sewer Maintenance / City Government Office

    Property Details for 1591 Park Rdb

    Year built
    2003
    Lot size
    2.39 lot acres
    Property size
    5,952 SF
    Property type
    Commercial real estate
    APN
    25-1900300
    APU
    251900300

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,920,000
      ML approach
      $1,895,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Chanhassen
    County
    Carver
    State
    Minnesota
    Longitude
    -93.5602
    Latitude
    44.8566
    CBSA code
    33460
    CBSA name
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $16,652
    $416,400
    $220,700
    $637,100
    -
    $416,400
    $220,700
    $637,100

    Comparable in this City

    • Value Estimation by Request
      0.94 Acres

      19900 78th St

      COMMERCIAL (GENERAL) • 0.94 Acres
      19900 78th St, Chanhassen, MN 55317-9329
      View Details
    • Value Estimation
      $855,000
      4,658 SF

      30 Lk E Dr

      COMMERCIAL (GENERAL) • 4,658 SF
      30 Lk E Dr, Chanhassen, MN 55317-9319
      View Details
    • Value Estimation by Request
      0.08 Acres

      Chanhassen, MN 55317

      COMMERCIAL (GENERAL) • 0.08 Acres
      Chanhassen, MN 55317
      View Details
    • Value Estimation
      $3,195,000
      7.83 Acres

      Chanhassen, MN 55317

      COMMERCIAL (GENERAL) • 7.83 Acres
      Chanhassen, MN 55317
      View Details
    • Value Estimation by Request
      1.33 Acres

      445 79th St

      COMMERCIAL (GENERAL) • 1.33 Acres
      445 79th St, Chanhassen, MN 55317-4505
      View Details
    • Value Estimation by Request
      7.06 Acres

      18251 Lk E Dr

      COMMERCIAL (GENERAL) • 7.06 Acres
      18251 Lk E Dr, Chanhassen, MN 55317
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1.80 Acres

      Chanhassen Commercial Land Opportunity

      1.8-acre commercial lot, prime location.
      8971 Crossroads Blvd, Chanhassen, MN 55317
      View Details
    • Contact for pricing
      14 SF

      New Mixed-Use Development Retail Space

      New mixed-use development with retail space and market rate apartments.
      591 W 78Th St, Chanhassen, MN 55317
      View Details
    • $374,900
      2,110 SF

      Chanhassen Townhome with Wetland Views

      Well-maintained townhome with modern amenities and scenic wetland views.
      9450 Washington Cir, Chanhassen, MN 55317
      View Details
    • $279,000

      Updated Townhome in Prime Location

      Move-in-ready townhome near shopping, dining, and amenities.
      7275 Pontiac Cir, Chanhassen, MN 55317
      View Details
    • Contact for pricing

      Land For Sale Chanhassen

      Land available for sale in Chanhassen, Minnesota.
      8145 Upland Cir, Chanhassen, MN 55317
      View Details
    • Contact for pricing
      16,704 SF

      Chanhassen Industrial Property For Sale

      Industrial property in Chanhassen with easy highway access.
      8345 Commerce Dr, Chanhassen, MN 55317
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      44,424 SF

      Chanhassen Retail Space Available

      Prime Chanhassen storefront, multiple units.
      600 Market St, Chanhassen, MN 55317
      View Details
    • $8 SF/Yr
      9,344 SF

      Chanhassen Warehouse with Highway Signage

      Flexible warehouse space with prominent signage and convenient highway access.
      2959-2989 Water Tower Pl, Chanhassen, MN 55317
      View Details
    • $6 SF/Yr
      31,200 SF

      Functional Warehouse Space Available

      31,200 SF warehouse space for sublease in Chanhassen.
      8085-8175 Century Blvd, Chanhassen, MN 55317
      View Details
    • Contact for pricing
      192,171 SF

      Chanhassen Warehouse with Highway Access

      Climate-controlled warehouse and production area with easy highway access.
      950 Lake Dr E, Chanhassen, MN 55317
      View Details
    • $13 SF/Yr
      11,370 SF

      Chanhassen Warehouse Space Available

      Industrial space with easy highway access and area amenities.
      18701-18741 Lake Dr E, Chanhassen, MN 55317
      View Details
    • Contact for pricing
      30,402 SF

      Chanhassen Warehouse with Highway Visibility

      30,402 SF warehouse with dock and grade level loading.
      18751-18791 Lake Dr E, Chanhassen, MN 55317
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1591 Park Rdb
    Chanhassen, MN 55317-9594
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.