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Property profile & analytics
FOR LEASE
Retail space
16350 Kenrick Loop Near I-35 Lakeville, MN 55044
Entity Owned
~
Est. High Equity
Property ID
US46-0966907
For Lease
1 / 11
Contact for pricing
16350 Kenrick Loop,Unit Near I-35, Lakeville, MN 55044
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Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1984
Construction
WOOD
Total area
10,320 SF
Lot
1.13 ac (49,223 SF)
Zoning code
R
APN
22-37900-01-030
UPID
US46-0966907
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
-
Pleasant Hills Saddle Shop Inc (Bike/Boat/Book/etc) Store
-
South Metro Safe & Vault Co Locksmith (Bike/Boat/Book/etc) Store
-
Precision Auto Upholstery Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$927k
Blend (final)
Blend
$865k
Owner & transaction history
Kenrick Group LLC
Kenrick Group LLC
since 2026
Last sale
$1.0M
2 recorded transactions
Zoning & alternative use
R · Lakeville, MN
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,415,000
Change: -4% · Conversion: Easy
Blend value · Realmo final
$865k
Range $779k – $952k · ±10% · vs last sale $1.00M (Jan 15 2026)
Last sale anchor
$1.00M
Jan 15 2026
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
$84 / 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
$20,040
Tax year 2023
Assessed value
$747,700
Assessed 2022
Previous assessed
$737,300
+1.4% YoY
Effective rate
2.68%
On assessed value
Assessed land
$432,800
Assessed improvement
$314,900
Land market value
$432,800
Improvement market value
$314,900
Total market value
$747,700
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
For Lease
Year built
1984
Construction
WOOD
Heating
NONE
Bathrooms
3
Total area
10,320 SF
Lot
1.13 ac (49,223 SF)
Zoning code
R
APN
22-37900-01-030
UPID
US46-0966907
Jurisdiction
DAKOTA
Zoning & alternative use
R · Lakeville, MNZoning R · permitted uses
R · Lakeville, MN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
11-45-5: ZONING MAP:
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$1.4M
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
1984
Construction
WOOD
Heating
NONE
Bathrooms
3
Lot
1.13 ac
Current owner
From public records · entity-resolved
Kenrick Group LLC
Entity
Mailing address
7244 50TH ST, PRINCETON, MN 55371-6410
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 15, 2026
$1,000,000
Kenrick Group LLC
Grosser Family Properties LLC
Deed
$700,000 · South Metro FCU
Nov 20, 2017
—
Grosser Family Properties LLC
Grosser Russell H
Quit Claim Deed
—
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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