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Property profile & analytics
OFF-MARKET
Estimated value
$1,565,000
Retail space
16179 Kenrick Ave Lakeville, MN 55044-5428
Entity Owned
8-yr Hold
Absentee Owner
Free & Clear
Property ID
US46-2952786
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1997
Total area
12,987 SF
Lot
2.11 ac (92,120 SF)
APN
22-23850-01-010
UPID
US46-2952786
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
-
Baskin-Robbins Grocery & Convenience Store Specialty Food Shop
-
Yield Sign Tour Operator
-
Dunkin' Bakery Specialty Food Shop
-
Power Plate Meals Specialty Food Shop
-
Lakeville Liquors Kenrick (Bike/Boat/Book/etc) Store Wine and Liquor Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.11M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.57M
Owner & transaction history
Lake 46 I LLC · 8 yrs held
Lake 46 I LLC
since 2018
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$2.6M
+39.1%
Restaurant
$2.5M
+36.1%
Auto repair, garage
$2.2M
+19.8%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,285,000
6.5%
$2,105,000
7%
$1,955,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,850,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$2,575,000
Change: +39% · Conversion: Moderate
RESTAURANT
$2,520,000
Change: +36% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,215,000
Change: +20% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,980,000
Change: +7% · Conversion: Difficult
OFFICE BUILDING
$1,780,000
Change: -4% · Conversion: Easy
Blend value · Realmo final
$1.57M
Range $1.41M – $1.72M · ±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
$121 / 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
$75,716
Tax year 2023
Assessed value
$2,659,500
Assessed 2022
Previous assessed
$2,642,800
+0.6% YoY
Effective rate
2.85%
On assessed value
Assessed land
$1,114,700
Assessed improvement
$1,544,800
Land market value
$1,114,700
Improvement market value
$1,544,800
Total market value
$2,659,500
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1997
Heating
NONE
Total area
12,987 SF
Lot
2.11 ac (92,120 SF)
APN
22-23850-01-010
UPID
US46-2952786
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
RETAIL STORES Current
Est. value
$1.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.6M
RESTAURANT
Est. value
$2.5M
AUTO REPAIR, GARAGE
Est. value
$2.2M
WAREHOUSE, STORAGE
Est. value
$2.0M
OFFICE BUILDING
Est. value
$1.8M
RETAIL STORES Current
NEIGHBORHOOD: SHOPPING CENTER
RESTAURANT
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
OFFICE BUILDING
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
1997
Heating
NONE
Lot
2.11 ac
Current owner
From public records · entity-resolved
Lake 46 I LLC
Entity
Free & Clear · 8 yrs held
Mailing address
5201 EDEN AVE STE #370, EDINA, MN 55436-2350
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 20, 2018
$2,370,000
Lake 46 I LLC
City Of Lakeville
Grant Deed
related
—
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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