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Property profile & analytics
OFF-MARKET
Estimated value
$690,000
Office Spaces
17600 Cedar Ave Lakeville, MN 55044-4722
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US46-0825022
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
2007
Construction
CONCRETE
Total area
4,609 SF
Lot
0.93 ac (40,511 SF)
APN
22-21226-01-010
UPID
US46-0825022
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
-
Reliance Heating & Cooling HVAC Service General Contractor
-
Lakeville Advanced Dental Care Dental Office
-
Eddie Construction and Handyman Hardware & Home Improvement General Contractor
-
Dr. Jeffery Kohler Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$940k
Comparable Approach
Comparable
$862k
Blend (final)
Blend
$690k
Owner & transaction history
Brightside Investments R E LLC · 9 yrs held
Brightside Investments R E LLC
since 2017
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$915,000
+44.7%
Auto repair, garage
$785,000
+24.6%
Warehouse, storage
$700,000
+11.2%
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%
$1,015,000
6.5%
$940,000
7%
$870,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$630,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$915,000
Change: +45% · Conversion: Difficult
AUTO REPAIR, GARAGE
$785,000
Change: +25% · Conversion: Difficult
WAREHOUSE, STORAGE
$700,000
Change: +11% · Conversion: Difficult
RETAIL STORES
$655,000
Change: +4% · Conversion: Moderate
Blend value · Realmo final
$690k
Range $621k – $759k · ±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
$150 / 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
$31,088
Tax year 2023
Assessed value
$1,125,700
Assessed 2022
Previous assessed
$1,084,800
+3.8% YoY
Effective rate
2.76%
On assessed value
Assessed land
$466,700
Assessed improvement
$659,000
Land market value
$466,700
Improvement market value
$659,000
Total market value
$1,125,700
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
Office Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
2007
Construction
CONCRETE
Heating
NONE
Bathrooms
2
Total area
4,609 SF
Lot
0.93 ac (40,511 SF)
APN
22-21226-01-010
UPID
US46-0825022
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
$630,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$915,000
AUTO REPAIR, GARAGE
Est. value
$785,000
WAREHOUSE, STORAGE
Est. value
$700,000
RETAIL STORES
Est. value
$655,000
OFFICE BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
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
2007
Construction
CONCRETE
Heating
NONE
Bathrooms
2
Lot
0.93 ac
Current owner
From public records · entity-resolved
Brightside Investments R E LLC
Entity
Mailing address
17600 CEDAR AVE, LAKEVILLE, MN 55044-4722
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 9, 2017
$785,000
Brightside Investments R E LLC
Bermer Bank NA
Limited Warranty Deed
$1,930,000 · Compass Bank
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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