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Property profile & analytics
OFF-MARKET
Estimated value
$960,000
Office buildings
16005 Joplin Ave Lakeville, MN 55044-9483
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US46-0329904
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1984
Construction
WOOD
Total area
4,174 SF
Lot
0.46 ac (20,038 SF)
Zoning code
R
APN
22-53706-01-010
UPID
US46-0329904
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
$970k
CAP Approach
CAP
$850k
Comparable Approach
Comparable
$614k
Blend (final)
Blend
$960k
Owner & transaction history
Triple N Properties INC · 2 yrs held
Triple N Properties INC
since 2023
Last sale
$950,000
7 recorded transactions
Zoning & alternative use
R · Lakeville, MN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$830,000
+44.7%
Auto repair, garage
$715,000
+24.6%
Warehouse, storage
$635,000
+11.2%
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 Lakeville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lakeville 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
$965,000
ML approach
$970,000
CAP Approach
CAP Return
Estimation
6%
$920,000
6.5%
$850,000
7%
$790,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$830,000
Change: +45% · Conversion: Difficult
AUTO REPAIR, GARAGE
$715,000
Change: +25% · Conversion: Difficult
WAREHOUSE, STORAGE
$635,000
Change: +11% · Conversion: Difficult
RETAIL STORES
$595,000
Change: +4% · Conversion: Moderate
Blend value · Realmo final
$960k
Range $864k – $1.06M · ±10% · vs last sale $950k (Jul 25 2023)
Last sale anchor
$950k
Jul 25 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
$230 / 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
$16,158
Tax year 2023
Assessed value
$593,200
Assessed 2022
Previous assessed
$582,600
+1.8% YoY
Effective rate
2.72%
On assessed value
Assessed land
$62,900
Assessed improvement
$530,300
Land market value
$62,900
Improvement market value
$530,300
Total market value
$593,200
Applied tax rate
22.0000
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
1984
Construction
WOOD
Heating
NONE
Buildings
2
Units
4
Bathrooms
4
Total area
4,174 SF
Lot
0.46 ac (20,038 SF)
Zoning code
R
APN
22-53706-01-010
UPID
US46-0329904
Jurisdiction
DAKOTA
Zoning & alternative use
R · Lakeville, MN
Zoning R · permitted uses
R · Lakeville, MN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lakeville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$830,000
AUTO REPAIR, GARAGE
Est. value
$715,000
WAREHOUSE, STORAGE
Est. value
$635,000
RETAIL STORES
Est. value
$595,000
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
RETAIL STORES
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
1984
Construction
WOOD
Heating
NONE
Buildings
2
Units
4
Bathrooms
4
Lot
0.46 ac
Current owner
From public records · entity-resolved
Triple N Properties INC
Entity
Mailing address
7770 182ND ST W, LAKEVILLE, MN 55044-2022
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 25, 2023
$950,000
Triple N Properties INC
Healthy Spaces 11 LLC
Warranty Deed
$967,000 · Sentry Bank
Mar 19, 2018
—
Healthy Spaces 11 LLC
—
Deed
related
$920,000 · Bridgewater Bk
May 23, 2016
$479,900
Healthy Spaces 11 LLC
Matthew Reiland
Warranty Deed
$408,000 · Bridgewater Bank
Feb 9, 2011
$214,490
Philip J Remeneski
Sheriff Of Dakota County
Grant Deed
—
Feb 9, 2011
$230,000
Jeffrey Relland
Remeneski,philip J
Grant Deed
—
Jul 20, 2010
$349,801
Bac Home Loans Servicing LP
Deputy Sheriff Of Dakota County
Trustees Deed
related
—
—
—
Healthy Spaces 11 LLC
—
Loan Modification
related
$920,000 · Bridgewater Bk
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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