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Property profile & analytics
OFF-MARKET
Estimated value
$1,340,000
Manufacturing properties
1951 Commerce SE Dr Lonsdale, MN 55046-3310
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US46-1967157
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
2016
Total area
12,400 SF
Lot
3 ac (130,680 SF)
APN
19.25.4.01.001
UPID
US46-1967157
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.27M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.34M
Owner & transaction history
1951 Commerce Drive Holdings LLC · 3 yrs held
1951 Commerce Drive Holdings LLC
since 2023
Last sale
$1.4M
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$2.1M
+53.8%
Commercial (general)
$1.8M
+32.2%
Restaurant
$1.8M
+28.5%
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 Lonsdale submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lonsdale 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
$1,290,000
ML approach
$1,270,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,365,000
Current use
OFFICE BUILDING
$2,095,000
Change: +54% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,805,000
Change: +32% · Conversion: Difficult
RESTAURANT
$1,755,000
Change: +29% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,480,000
Change: +9% · Conversion: Easy
RETAIL STORES
$1,355,000
Change: -1% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,160,000
Change: -15% · Conversion: Easy
MEDICAL BUILDING
$1,100,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$1.34M
Range $1.21M – $1.47M · ±10% · vs last sale $1.40M (Jul 19 2023)
Last sale anchor
$1.40M
Jul 19 2023
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
$108 / 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
$37,110
Tax year 2024
Assessed value
$1,331,500
Assessed 2024
Previous assessed
$1,331,500
+0.0% YoY
Effective rate
2.79%
On assessed value
Assessed land
$215,700
Assessed improvement
$1,115,800
Land market value
$215,700
Improvement market value
$1,115,800
Total market value
$1,331,500
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
2016
Heating
NONE
Stories
1
Total area
12,400 SF
Lot
3 ac (130,680 SF)
APN
19.25.4.01.001
UPID
US46-1967157
Jurisdiction
RICE
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
INDUSTRIAL (GENERAL) Current
Est. value
$1.4M
OFFICE BUILDING
Est. value
$2.1M
COMMERCIAL (GENERAL)
Est. value
$1.8M
RESTAURANT
Est. value
$1.8M
WAREHOUSE, STORAGE
Est. value
$1.5M
RETAIL STORES
Est. value
$1.4M
AUTO REPAIR, GARAGE
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$1.1M
INDUSTRIAL (GENERAL) Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
RESTAURANT
WAREHOUSE, STORAGE
RETAIL STORES
AUTO REPAIR, GARAGE
MEDICAL 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
2016
Heating
NONE
Stories
1
Lot
3 ac
Current owner
From public records · entity-resolved
1951 Commerce Drive Holdings LLC
Entity
Mailing address
2346 VERNON CIR, MINNETONKA, MN 55305-3053
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 19, 2023
$1,400,000
1951 Commerce Drive Holdings LLC
Ndn Holdings LLC Under Laws Of Minn
Limited Warranty Deed
$1,305,000 · Highland Bank
Aug 15, 2022
$94,088
Axiotos Properties LLC
Gpm Lonsdale LLC
Warranty Deed
$6,478,877 · Minnesta Housing Finance Agency
Feb 24, 2022
$723,748
Mdc Development IV LLC
Mcdonough Farms LLC
Warranty Deed
$1,100,000 · Bremer Bank NA
May 16, 2016
—
Ndn Holdings LLC
—
Deed Of Trust
related
$1,346,200 · Bremer Bk
May 18, 2015
$130,679
Ndn Holdings LLC
City Of Lonsdale
Warranty Deed
related
—
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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