Property profile

1598 Eustis St Lauderdale, MN 55108

FOR SALE
Apartment buildings
Property ID
US46-1935111
24,432 SF 7.46 ac lot Built 1968
Entity Owned 6-yr Hold Absentee Owner ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional ±15.57-acre property presents a unique redevelopment opportunity in the desirable St. Anthony Park neighborhood, spanning both Lauderdale and St. Paul, Minnesota. Its strategic location offers unparalleled access to downtown Minneapolis and St. Paul, major universities (within 3 miles), and a vibrant park system. The site's zoning allows for diverse uses, including residential (single-family to high-density), educational, and religious development. Existing buildings currently serve educational and religious groups. The property boasts excellent access to key transportation arteries like MN-280, I-35W, and I-94. Nearby amenities include parks, retail establishments, and schools, enhancing its appeal and potential. Situated on the northwest corner of the St. Anthony Park neighborhood, this large, contiguous site is served by the Roseville Area 623 School District (Falcon Heights and Brimhall Elementary Schools). While Lauderdale zoning and future land use plans exist, they do not guarantee full development of the entire acreage. This presents a rare chance to acquire a substantial land parcel in the heart of the Twin Cities metropolitan area. The property's proximity to the Minnesota State Fairgrounds further adds to its desirability.

Property profile

Verified
Property type Apartment buildings
Use group APARTMENT HOUSE (100+ UNITS)
Year built 1968
Construction WOOD FRAME
Total area 24,432 SF
Lot 7.46 ac (324,740 SF)
APN 20-29-23-21-0078
UPID US46-1935111

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

1598 Eustis St Lauderdale, MN 55108
Lauderdale metro Census 42002 MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$3.15M
Blend (final) Blend
$2.50M

Owner & transaction history

since 2020
2 recorded transactions
2020
Price N/A
1969
Price N/A

Zoning & alternative use

Top alternative use upside
Medical building $3.6M +57.3%
Office building $2.5M +8.1%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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