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Property profile & analytics
OFF-MARKET
Estimated value
$560,000
Office buildings
1605 Southcross W Dr Burnsville, MN 55306-7013
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US46-0644240
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2006
Construction
WOOD
Total area
4,016 SF
APN
02-22551-06-605
UPID
US46-0644240
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
Current use
Occupant on record · Public records
-
Skye Massage Therapies Alternative Medicine Practice Spa & Massage Center
-
Farmers Insurance - Brian Welke Insurance Agency
-
Creative Connections Counseling LLC Crisis Center Medical Clinic
-
Zen Den Counseling Counselor
-
Taylor Kaspar Law Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$631k
Blend (final)
Blend
$560k
Owner & transaction history
Welke Re LLC · 7 yrs held
Welke Re LLC
since 2018
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$795,000
+29.5%
Auto repair, garage
$685,000
+11.5%
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 Burnsville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Burnsville 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
$615,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$795,000
Change: +30% · Conversion: Difficult
AUTO REPAIR, GARAGE
$685,000
Change: +12% · Conversion: Difficult
WAREHOUSE, STORAGE
$610,000
Change: 0% · Conversion: Difficult
RETAIL STORES
$570,000
Change: -7% · Conversion: Moderate
Blend value · Realmo final
$560k
Range $504k – $616k · ±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
$139 / 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
$9,240
Tax year 2023
Assessed value
$374,200
Assessed 2022
Previous assessed
$380,500
-1.7% YoY
Effective rate
2.47%
On assessed value
Assessed land
$60,000
Assessed improvement
$314,200
Land market value
$60,000
Improvement market value
$314,200
Total market value
$374,200
Applied tax rate
2.0000
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
2006
Construction
WOOD
Heating
NONE
Bathrooms
3
Total area
4,016 SF
APN
02-22551-06-605
UPID
US46-0644240
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
$615,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$795,000
AUTO REPAIR, GARAGE
Est. value
$685,000
WAREHOUSE, STORAGE
Est. value
$610,000
RETAIL STORES
Est. value
$570,000
OFFICE BUILDING Current
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
2006
Construction
WOOD
Heating
NONE
Bathrooms
3
Current owner
From public records · entity-resolved
Welke Re LLC
Entity
Mailing address
5994 188TH ST W, FARMINGTON, MN 55024-7065
Ownership since
2018
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
Oct 8, 2020
—
Welke Re LLC
—
Deed
related
$256,800 · Highland Bank
Aug 7, 2018
$290,000
Welke Re LLC
Maple Bank
Warranty Deed
$217,500 · First National Bank
Dec 26, 2014
$281,313
Maple Bk
Deputy Sheriff Of Dakota County|zoe Partners LLC
Trustees Deed
related
—
Sep 17, 2009
—
Zoe Partners LLC
—
Trustees Deed
related
$484,144 · Alliance Bank
Jan 29, 2008
—
Zoe Partners LLC
—
Trustees Deed
related
$1,000,000 · Commerce Bank NA
—
—
Zoe Partners LLC
—
Deed Of Trust
related
$367,500 · Maple Bank
—
—
Zoe Partners LLC
—
Deed Of Trust
related
$484,144 · Alliance Bank
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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