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Property profile & analytics
OFF-MARKET
Estimated value
$1,545,000
Office buildings
16972 Brandtjen Farm Dr Lakeville, MN 55044-6047
Entity Owned
5-yr Hold
Free & Clear
Property ID
US46-2881373
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1932
Construction
CONCRETE
Total area
17,332 SF
Lot
0.31 ac (13,677 SF)
APN
22-71360-01-010
UPID
US46-2881373
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
-
Homes By Tradition Construction Company General Contractor
-
Robert Thomas Homes Construction Company General Contractor
-
Tradition Companies Construction Company
-
RT Urban Homes Construction Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.71M
Blend (final)
Blend
$1.55M
Owner & transaction history
RT Urban Homes INC · 5 yrs held
RT Urban Homes INC
since 2020
Last sale
$35,909
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$2.5M
+4.0%
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
$2,375,000
Current use
RETAIL STORES
$2,470,000
Change: +4% · Conversion: Moderate
Blend value · Realmo final
$1.55M
Range $1.39M – $1.70M · ±10% · vs last sale $36k (May 27 2020)
Last sale anchor
$36k
May 27 2020
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
$89 / 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
$31,982
Tax year 2023
Assessed value
$1,203,400
Assessed 2022
Previous assessed
$1,200,900
+0.2% YoY
Effective rate
2.66%
On assessed value
Assessed land
$52,000
Assessed improvement
$1,151,400
Land market value
$52,000
Improvement market value
$1,151,400
Total market value
$1,203,400
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1932
Construction
CONCRETE
Heating
NONE
Total area
17,332 SF
Lot
0.31 ac (13,677 SF)
APN
22-71360-01-010
UPID
US46-2881373
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
$2.4M
RETAIL STORES
Est. value
$2.5M
OFFICE BUILDING Current
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
1932
Construction
CONCRETE
Heating
NONE
Lot
0.31 ac
Current owner
From public records · entity-resolved
RT Urban Homes INC
Entity
Free & Clear · 5 yrs held
Mailing address
16972 BRANDTJEN FARM DR, LAKEVILLE, MN 55044-6047
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
61 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 27, 2021
—
RT Urban Homes INC
—
Deed
related
$5,000,000 · Tradition Cap Bk
Dec 16, 2020
$70,000
RT Urban Homes INC
Sbf Development Corp
Warranty Deed
—
Dec 16, 2020
—
RT Urban Homes INC
—
Deed
related
$5,000,000 · Tradition Cap Bk
Dec 9, 2020
—
Robert Thomas Homes INC
Sbf Development Corp
Warranty Deed
related
—
Dec 2, 2020
$70,000
RT Urban Homes INC
Sbf Dev Corp
Warranty Deed
—
Dec 2, 2020
—
Sbf Dev Corp
Cobblestone Lake LLC
Warranty Deed
related
$500,000 · Tradition Cap Bk
Nov 16, 2020
—
Sbf Development Corp
—
Deed
related
$6,400,000 · Tradition Cap Bk
Nov 12, 2020
$140,000
RT Urban Hms INC
Sbf Dev Corp
Warranty Deed
—
Nov 4, 2020
$70,000
RT Urban Homes INC
Sbf Development Corp
Warranty Deed
—
Nov 4, 2020
—
RT Urban Homes INC
—
Deed
related
$500,000 · Tradition Cap Bk
Oct 28, 2020
—
Robert Thomas Homes INC
Sbf Development Corp
Warranty Deed
related
$500,000 · Tradition Cap Bk
Oct 21, 2020
—
Sbf Development Corp
Cobblestone Lake LLC
Warranty Deed
related
—
Oct 14, 2020
—
RT Urban Homes INC
—
Deed
related
$500,000 · Tradition Cap Bk
Oct 7, 2020
$52,161
Sbf Development Corp
Cobblestone Lake LLC
Warranty Deed
—
Oct 7, 2020
—
Robert Thomas Homes INC
—
Deed
related
$4,200,000 · Tradition Cap Bk
Oct 5, 2020
$500
Sbf Development Corp
Aggregate Industries Mwr INC
Quit Claim Deed
related
—
Oct 5, 2020
—
Cobblestone Lake LLC
Cobblestone Lake LLC
Quit Claim Deed
related
—
Sep 30, 2020
$85,000
Robert Thomas Homes INC
Sbf Development Corp
Warranty Deed
—
Sep 30, 2020
$13,812
Sbf Development Corp
Cobblestone Lake LLC
Warranty Deed
—
Sep 30, 2020
$150,000
Robert Thomas Homes INC
Sbf Development Corp
Warranty Deed
—
Sep 30, 2020
—
Robert Thomas Hms INC
—
Deed
related
$4,200,000 · Tradition Cap Bk
Sep 23, 2020
$105,000
Robert Thomas Homes INC
Sbf,development Co
Warranty Deed
—
Sep 23, 2020
$21,191
Sbf Development Corp
Cobblestone Lake LLC
Warranty Deed
—
Sep 23, 2020
—
Robert Thomas Homes INC
—
Deed
related
$4,200,000 · Tradition Cap Bk
Sep 18, 2020
—
Robert Thomas Homes INC
—
Deed
related
$18,500,000 · Tradition Cap Bk
Aug 26, 2020
$197,000
Robert Thomas Homes INC
Sbf Dev Corp
Warranty Deed
—
Aug 5, 2020
$70,000
RT Urban Homes INC
Sbf Dev Corp
Warranty Deed
—
Jul 14, 2020
$85,000
Robert Thomas Homes INC
Sbf Dev Corp
Warranty Deed
—
Jul 8, 2020
—
RT Urban Homes INC
—
Deed
related
$5,000,000 · Tradition Cap Bk
Jun 24, 2020
$70,000
RT Urban Homes INC
Sbf Dev Corp
Warranty Deed
—
Jun 23, 2020
—
Robert Thomas Homes INC
—
Deed
related
$8,000,000 · Bridgewater Bk
Jan 24, 2020
$564,500
Robert Thomas Homes INC
Sbf Dev Corp
Warranty Deed
—
Jan 8, 2020
—
Robert Thomas Homes INC
—
Deed
related
$17,000,000 · Tradition Cap Bk
Nov 22, 2019
$85,000
Robert Thomas Homes INC
Sbf Dev Corp
Warranty Deed
—
Nov 22, 2019
—
Robert Thomas Homes INC
—
Loan Modification
related
$17,000,000 · Tradition Cap Bk
May 7, 2019
$500
Cobblestone Lake LLC
Aggregate Industries-mwr INC
Quit Claim Deed
related
—
Dec 28, 2018
$362,600
Robert Thomas Homes INC
Sbf Dev Corp
Warranty Deed
—
Sep 14, 2018
$71,309
Sbf Dev Corp
Cobblestone Lake LLC
Warranty Deed
—
Aug 24, 2018
$210,000
Robert Thomas Homes INC
Sbf Dev Corp
Grant Deed
$17,000,000 · Tradition Cap Bk
Jul 27, 2018
$293,300
Robert Thomas Homes INC
Sbf Dev Corp
Warranty Deed
—
Jun 22, 2018
$300,000
Robert Thomas Homes INC
Sbf Dev Corp
Warranty Deed
—
May 11, 2018
$471,000
Robert Thomas Homes INC
Sbf Dev Corp
Warranty Deed
—
Mar 9, 2018
—
Sbf Commercial Holdings LLC
—
Deed
related
$906,750 · Tradition Cap Bk
—
—
Robert Thomas Homes INC
—
Loan Modification
related
$4,200,000 · Tradition Cap Bk
—
—
RT Urban Homes INC
—
Loan Modification
related
$5,000,000 · Tradition Cap Bk
—
—
Robert Thomas Homes INC
—
Loan Modification
related
$4,200,000 · Tradition Cap Bk
—
—
Sbf Development Corp
—
Loan Modification
related
$6,400,000 · Tradition Cap Bk
—
—
Robert Thomas Homes INC
—
Loan Modification
related
$17,000,000 · Tradition Cap Bk
—
—
RT Urban Homes INC
—
Loan Modification
related
$5,000,000 · Tradition Cap Bk
—
—
Robert Thomas Homes INC
—
Loan Modification
related
$8,000,000 · Bridgewater Bk
—
—
Sbf Commercial Holdings LLC
—
Loan Modification
related
$906,750 · Tradition Cap Bk
—
—
Sbf Commercial Holdings LLC
—
Loan Modification
related
$200,000 · Tradition Cap Bk
—
—
RT Urban Homes INC
—
Loan Modification
related
$500,000 · Tradition Cap Bk
—
—
RT Urban Homes INC
—
Loan Modification
related
$5,000,000 · Tradition Cap Bk
—
—
RT Urban Homes INC
—
Loan Modification
related
$500,000 · Tradition Cap Bk
—
—
RT Urban Homes INC
—
Loan Modification
related
$500,000 · Tradition Cap Bk
—
—
RT Urban Homes INC
—
Loan Modification
related
$500,000 · Tradition Cap Bk
—
—
Robert Thomas Hms INC
—
Loan Modification
related
$4,200,000 · Tradition Cap Bk
—
—
Co RT Urban Homes INC
—
Loan Modification
related
—
—
—
Robert Thomas Homes INC
—
Loan Modification
related
$4,200,000 · Tradition Cap Bk
—
—
Robert Thomas Homes INC
—
Loan Modification
related
$18,500,000 · Tradition Cap Bk
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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