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    16233 Kenyon Ave Lakeville, MN 55044
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    Property profile & analytics

    16233 Kenyon Ave Lakeville, MN 55044

    View on Map
    • Office buildings
    • 36,048 SF
    • 2.51 lot acres
    For Lease
    $3,340,000
    View Listing →
    Lakeville Office Space Available For Lease
    $3,340,000
    1,286 SF

    Lakeville Office Space Available

    Office spaces available in Lakeville, close to I-35.

    16233 Kenyon Ave, Lakeville, MN
    View Listing
    Property ID
    US46-0256614
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Real Star Title / Title Company
    • American Land & Capital LLC / Loan Service / Bank
    • Source One Financial / Loan Service / Financial Advisor
    • Edward Jones - Financial Advisor: Susanne Venberg / Financial Advisor
    • Edward Jones - Financial Advisor: Kellee Ablard, CRPC™ / Financial Advisor

    Property Details for 16233 Kenyon Ave

    Year built
    2008
    Construction
    CONCRETE
    Lot size
    2.51 lot acres
    Property size
    36,048 SF
    Property type
    Office buildings
    APN
    22-41640-01-030
    APU
    224164001030

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,565,000
      Market price range: $3.57M - $6.74M
      AI Estimate
      $2,063,000
      Market price range: $1.48M - $4.30M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $4,940,000
      Current use
      WAREHOUSE, STORAGE
      $5,490,000
      Change: +11% Conversion: Difficult
      RETAIL STORES
      $5,140,000
      Change: +4% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Lakeville
    County
    Dakota
    State
    Minnesota
    Longitude
    -93.2892
    Latitude
    44.7137
    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
    2023
    $94,290
    $1,023,600
    $2,273,700
    $3,297,300
    -
    $1,023,600
    $2,273,700
    $3,297,300

    Comparable in this City

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      24,960 SF

      17305 Cedar S Ave

      OFFICE BUILDING • 24,960 SF
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      View Details
    • Value Estimation
      $940,000
      4,588 SF

      21029 Heron Way

      OFFICE BUILDING • 4,588 SF
      21029 Heron Way, Lakeville, MN 55044-8068
      View Details
    • Value Estimation
      $1,450,000
      1,602 SF

      20783 Holyoke Ave

      OFFICE BUILDING • 1,602 SF
      20783 Holyoke Ave, Lakeville, MN 55044-9825
      View Details
    • Value Estimation
      $2,195,000
      12,548 SF

      17271 Kenyon Ave

      OFFICE BUILDING • 12,548 SF
      17271 Kenyon Ave, Lakeville, MN 55044-6906
      View Details
    • Value Estimation
      $620,000
      4,200 SF

      10547 165th W St

      OFFICE BUILDING • 4,200 SF
      10547 165th W St, Lakeville, MN 55044-5735
      View Details
    • Value Estimation
      $680,000
      6,684 SF

      10567 165th W St

      OFFICE BUILDING • 6,684 SF
      10567 165th W St, Lakeville, MN 55044-3523
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.00 Acres

      Lakeville Office Space For Sale

      Single office space in high-traffic Lakeville commercial area.
      16372 Kenrick Ave, Lakeville, MN 55044
      View Details
    • $782,000
      2.64 Acres

      Mixed-Use Property on 2.6+ Acres

      Versatile commercial property with garage, bonus space, and on-site home.
      9775 215Th St W, Lakeville, MN 55044
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    • Contact for pricing
      0.00 Acres

      Lakeville Office Space For Sale

      Professional office space in high-traffic Lakeville commercial area.
      16372 Kenrick Ave, Lakeville, MN 55044
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    • Contact for pricing
      89,775 SF

      Lakeville Flex/Industrial Property For Sale

      Flex/Industrial property available for sale in Lakeville, Minnesota.
      11356 215Th St W, Lakeville, MN 55044
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    • Contact for pricing
      0.10 Acres

      Lakeville Office Suite For Sale

      Professional office suite in high-visibility Lakeville corridor, ideal for medical.
      16372 Kenrick Ave, Lakeville, MN 55044
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    • $328,875
      2,408 SF

      Lakeville Industrial Unit - For Sale

      Spacious Shop, Storage & Office Space
      24947 Larson Ln, Lakeville, MN 55044
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      35,000 SF

      Lakeville Office Space For Lease

      Two-story office building in Lakeville's Fairfield Business Park.
      20855 Kensington Blvd, Lakeville, MN 55044
      View Details
    • Contact for pricing
      10,332 SF

      Professional Office Building For Rent

      Professional office building with elevator access and ample parking.
      17685 Juniper Path, Lakeville, MN 55044
      View Details
    • Contact for pricing

      Office Building Currently 100% Leased

      Office building for rent, currently 100% leased.
      17595 Kenwood Trl, Lakeville, MN 55044
      View Details
    • Contact for pricing
      12,000 SF

      Proposed Class A Medical Building

      Proposed single-story Class A medical building with premier signage.
      11080 161St St W, Lakeville, MN 55044
      View Details
    • Contact for pricing

      Office Space Available For Lease

      Office space for lease in Lakeville, Minnesota.
      10523 165Th St W, Lakeville, MN 55044
      View Details
    • Contact for pricing
      25,000 SF

      Development Opportunity Near Interstate I-35

      20+ acres available for development near a full diamond interchange.
      18350 Orchard Trl, Lakeville, MN 55044
      View Details
    View Listing
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    Lakeville, MN 55044
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    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
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    16233 Kenyon Ave, Lakeville, MN, 55044
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