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Property profile & analytics
OFF-MARKET
Estimated value
$1,515,000
Manufacturing properties
16477 Jordan Ave Jordan, MN 55352-9378
Entity Owned
Absentee Owner
Free & Clear
Property ID
US46-0961173
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1998
Total area
17,720 SF
Lot
5.26 ac (229,126 SF)
Zoning code
I-1
APN
09-054001-0
UPID
US46-0961173
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
-
Mullin Trucking Inc. Trucking Company
-
Joe Mullin Leasing Trucking Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.90M
Blend (final)
Blend
$1.52M
Owner & transaction history
MULLIN PROPERTY MANAGEMENT COMPANY LLC
MULLIN PROPERTY MANAGEMENT COMPANY LLC
Zoning & alternative use
I-1 · Jordan, MN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
ISTRICT (R-3) MULTIPLE-FAMILY RESIDENTIAL DISTRICT (R-4) MANUFACTURED HOME DISTRICT (R-5) NEIGHBORHOOD BUSINESS DISTRICT (C-1) CENTRAL BUSINESS DISTRICT (C-2) HIGHWAY COMMERCIAL DISTRICT (C-3) LIGHT INDUSTRIAL DISTRICT (I-1) GENERAL INDUSTRIAL DISTRICT (I-2) CONSERVANCY DISTRICT (CD) PLANNED UNIT DEVELOPMENT DISTRICT (PUD) OFF-STREET PARKING AND LOADING SPAC…
Zone name
Light Industrial
General category
INDUSTRIAL
Zone area
203.63 ac
Source
§ 154.061 ZONING DISTRICTS.
Top alternative use upside
Commercial (general)
$1.9M
+22.8%
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 Jordan submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Jordan 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
INDUSTRIAL (GENERAL)
$1,510,000
Current use
COMMERCIAL (GENERAL)
$1,855,000
Change: +23% · Conversion: Difficult
Blend value · Realmo final
$1.52M
Range $1.36M – $1.67M · ±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
$85 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$43,916
Tax year 2024
Assessed value
$1,812,400
Assessed 2024
Previous assessed
$1,791,600
+1.2% YoY
Effective rate
2.42%
On assessed value
Assessed land
$347,700
Assessed improvement
$1,464,700
Land market value
$347,700
Improvement market value
$1,464,700
Total market value
$1,812,400
Applied tax rate
1,201.0000
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1998
Heating
BASEBOARD
Cooling
REFRIGERATOR
Total area
17,720 SF
Lot
5.26 ac (229,126 SF)
Zoning code
I-1
APN
09-054001-0
UPID
US46-0961173
Jurisdiction
SCOTT
Zoning & alternative use
I-1 · Jordan, MNZoning I-1 · permitted uses
I-1 · Jordan, MN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
ISTRICT (R-3) MULTIPLE-FAMILY RESIDENTIAL DISTRICT (R-4) MANUFACTURED HOME DISTRICT (R-5) NEIGHBORHOOD BUSINESS DISTRICT (C-1) CENTRAL BUSINESS DISTRICT (C-2) HIGHWAY COMMERCIAL DISTRICT (C-3) LIGHT INDUSTRIAL DISTRICT (I-1) GENERAL INDUSTRIAL DISTRICT (I-2) CONSERVANCY DISTRICT (CD) PLANNED UNIT DEVELOPMENT DISTRICT (PUD) OFF-STREET PARKING AND LOADING SPACES SIGNS SHORELAND OVERLAY DISTRICT AVIATION REQUIREMENTS ARCHITECTURAL CONTROL AND
Zone name
Light Industrial
General category
INDUSTRIAL
Zone area
203.63 ac
Source
§ 154.061 ZONING DISTRICTS.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$1.9M
INDUSTRIAL (GENERAL) Current
COMMERCIAL (GENERAL)
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
1998
Heating
BASEBOARD
Cooling
Yes
Lot
5.26 ac
Current owner
From public records · entity-resolved
MULLIN PROPERTY MANAGEMENT COMPANY LLC
Entity
Free & Clear · 0 yrs held
Mailing address
17620 XANADU AVE, JORDAN, MN 55352-9309
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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