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Property profile & analytics
OFF-MARKET
Estimated value
$2,485,000
Office Spaces
19685 Pilot Knob Rd, Farmington, MN 55024-7238
Entity Owned
19-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US46-0687261
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
2007
Construction
CONCRETE
Total area
14,780 SF
Lot
1.25 ac (54,450 SF)
APN
14-16800-01-030
UPID
US46-0687261
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
-
Meadowview Orthodontics Dental Office
-
Kristen Strong Registered General Nurse
-
Scott Bender, MD Pediatrician Physician
-
Shelley Dotson, MD Pediatrician Physician
-
Dr. Amer Azar, MD Pediatrician Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.01M
Comparable Approach
Comparable
$2.43M
Blend (final)
Blend
$2.49M
Owner & transaction history
Farmington Medical LLC · 19 yrs held
Farmington Medical LLC
since 2007
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$2.9M
+63.6%
Restaurant
$2.9M
+60.0%
Auto repair, garage
$2.5M
+40.8%
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 Farmington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Farmington 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%
$3,260,000
6.5%
$3,010,000
7%
$2,795,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,790,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$2,930,000
Change: +64% · Conversion: Difficult
RESTAURANT
$2,865,000
Change: +60% · Conversion: Moderate
AUTO REPAIR, GARAGE
$2,525,000
Change: +41% · Conversion: Difficult
WAREHOUSE, STORAGE
$2,250,000
Change: +26% · Conversion: Difficult
RETAIL STORES
$2,105,000
Change: +18% · Conversion: Moderate
Blend value · Realmo final
$2.49M
Range $2.24M – $2.73M · ±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
$168 / 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
$56,962
Tax year 2023
Assessed value
$1,913,000
Assessed 2022
Previous assessed
$1,835,200
+4.2% YoY
Effective rate
2.98%
On assessed value
Assessed land
$501,500
Assessed improvement
$1,411,500
Land market value
$501,500
Improvement market value
$1,411,500
Total market value
$1,913,000
Applied tax rate
14.0000
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
4
Total area
14,780 SF
Lot
1.25 ac (54,450 SF)
APN
14-16800-01-030
UPID
US46-0687261
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
$1.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.9M
RESTAURANT
Est. value
$2.9M
AUTO REPAIR, GARAGE
Est. value
$2.5M
WAREHOUSE, STORAGE
Est. value
$2.3M
RETAIL STORES
Est. value
$2.1M
OFFICE BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
RESTAURANT
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
4
Lot
1.25 ac
Current owner
From public records · entity-resolved
Farmington Medical LLC
Entity
Mailing address
3120 WOODBURY DR #100, WOODBURY, MN 55129-9600
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 3, 2020
—
Farmington Medical LLC
—
Deed
related
$1,892,000 · North American Bkng
Dec 26, 2018
—
Farmington Medical LLC
—
Deed
related
$1,524,000 · North American Bkng
Mar 28, 2013
—
Farmington Medical LLC
—
Trustees Deed
related
$500,000 · Republic Bank & Trust
May 29, 2007
$500
Farmington Medical LLC
Fargo Northern LLC
Grant Deed
related
$2,560,000 · First Commercial Bank
—
—
Farmington Medical LLC
—
Deed Of Trust
related
$1,524,000 · North American Bkng
—
—
Farmington Medical LLC
—
Loan Modification
related
$1,892,000 · North American Bkng
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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