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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1700 Tower Dr Stillwater, MN 55082

    • Commercial real estate
    • 10,634 SF
    • 0.68 lot acres
    For Lease
    View listing
    Last Sale
    Sep 20, 2022
    $1,150,000
    Value Estimations
    $1,070,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US46-1014357
    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.

    Current Use by Public Records

    • Tammy Kasprowicz / Physician
    • Conner Simons / Physician
    • Kristi Hughlett / Physician
    • Michael Ripley / Physician
    • Greg Bailen / Physician

    Property Details for 1700 Tower Dr

    Year built
    1988
    Lot size
    0.68 lot acres
    Property size
    10,634 SF
    Property type
    Commercial real estate
    APN
    32-030-20-43-0001
    APU
    3203020430001

    Description

    1700 Tower Drive offers 3,519 square feet of immediately available executive office space within a larger 10,635 square foot single-story building. Located in Stillwater's thriving business park, this property boasts convenient access to Highway 36 and Curve Crest Boulevard, ensuring effortless commutes for employees and clients. Built in 1988, the building provides ample parking, a significant advantage in a busy commercial area. The location offers proximity to numerous amenities, including the HealthPartners Stillwater Medical Group and the River Valley Athletic Club, enhancing the convenience and appeal for tenants and their staff. The available space is part of a multi-tenant building, providing a collaborative and professional environment. This is an exceptional opportunity to secure high-quality office space in a desirable location with excellent accessibility and nearby conveniences. The property's single-story design offers ease of navigation and accessibility for all. The ample parking ensures convenient parking for employees and visitors alike. This space is ideal for businesses seeking a well-located, functional, and easily accessible office environment in Stillwater, Minnesota. The surrounding area offers a variety of amenities, making it an attractive location for employees and clients. This is a rare opportunity to lease high-quality office space in a prime Stillwater location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $980,000
      ML approach
      $920,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $721,000
      Market price range: $259k - $953k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,610,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Stillwater
    County
    Washington
    State
    Minnesota
    Longitude
    -92.8297
    Latitude
    45.0392
    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
    $47,316
    $208,300
    $1,424,200
    $1,632,500
    -
    $208,300
    $1,424,200
    $1,632,500

    Comparable in this City

    • Value Estimation
      $4,025,000
      31,663 SF

      402 Main S St

      COMMERCIAL (GENERAL) • 31,663 SF
      402 Main S St, Stillwater, MN 55082-5128
      View Details
    • Value Estimation
      $1,545,000
      15,782 SF

      214 Main S St

      COMMERCIAL (GENERAL) • 15,782 SF
      214 Main S St, Stillwater, MN 55082-5124
      View Details
    • Value Estimation
      $900,000
      9,028 SF

      5843 Neal N Ave

      COMMERCIAL (GENERAL) • 9,028 SF
      5843 Neal N Ave, Stillwater, MN 55082-2177
      View Details
    • Value Estimation
      $925,000
      0.44 Acres

      1675 Greeley S St

      COMMERCIAL (GENERAL) • 0.44 Acres
      1675 Greeley S St, Stillwater, MN 55082-6091
      View Details
    • Value Estimation
      $5,725,000
      88,843 SF

      5805 Krueger Ln

      COMMERCIAL (GENERAL) • 88,843 SF
      5805 Krueger Ln, Oak Park Heights, MN 55082-2189
      View Details
    • Value Estimation
      $1,450,000
      11,070 SF

      5880 Omaha N Ave

      COMMERCIAL (GENERAL) • 11,070 SF
      5880 Omaha N Ave, Stillwater, MN 55082-6330
      View Details

    Similar Nearby for Sale

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      2.78 Acres

      Stillwater Commercial Land - 2.78 Acres

      Prime Stillwater location, 2.78 acres, BP-I zoning.
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      View Details
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      Commercial Land for Retail Development

      Two-acre commercial land parcel suitable for retail development.
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      5,225 SF

      Former Restaurant in Retail District

      5,225 SF building in the heart of Stillwater's retail.
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    • $299,000
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      Homesite Near St. Croix River

      Homesite near the St. Croix River and downtown Stillwater.
      308 4Th St S, Stillwater, MN 55082
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    • $1,600,000
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      Retail Property in Oak Park Heights

      Retail property with 3,751 square feet available for sale.
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    Similar Nearby for Lease

    • Contact for pricing
      2,750 SF

      Oak Park Heights Drive-Thru

      2,750 SF drive-thru restaurant on 0.98 acres.
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      View Details
    • Contact for pricing
      17,000 SF

      Medical Space in Stillwater Available

      Build-to-suit medical space with convenient access to amenities.
      1701 Curve Crest Blvd, Stillwater, MN 55082
      View Details
    • $20 SF/Yr
      825 SF

      Retail Center Space Available

      Retail space in multi-tenant center with highway frontage.
      5946-5988 N Osgood Ave, Oak Park Heights, MN 55082
      View Details
    • Contact for pricing
      10,635 SF

      Executive Suites Stillwater, MN

      Prime Office Space Available Now
      1700 Tower Dr, Stillwater, MN 55082
      View Details
    • Contact for pricing
      4,935 SF

      Retail Space in Oak Park

      Community center retail space for lease in Oak Park Heights.
      5805-5855 Krueger Ln N, Oak Park Heights, MN 55082
      View Details
    • Contact for pricing
      5,120 SF

      Downtown Stillwater Office Space

      Modern office suite, 250 sq ft, prime location.
      522 4Th St, Stillwater, MN 55082
      View Details
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    Stillwater, MN 55082
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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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