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Property profile & analytics
OFF-MARKET
Estimated value
$2,285,000
Office buildings
20809 Kensington Blvd Lakeville, MN 55044-8353
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US46-0695025
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2003
Construction
CONCRETE
Total area
24,131 SF
Lot
2.67 ac (116,305 SF)
APN
22-24501-01-020
UPID
US46-0695025
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
-
Advanced Wireless Communications Electronics & Wireless Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.39M
Blend (final)
Blend
$2.29M
Owner & transaction history
Coons Family LLC · 2 yrs held
Coons Family LLC
since 2024
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$3.7M
+11.2%
Retail stores
$3.4M
+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
$3,305,000
Current use
WAREHOUSE, STORAGE
$3,675,000
Change: +11% · Conversion: Difficult
RETAIL STORES
$3,440,000
Change: +4% · Conversion: Moderate
Blend value · Realmo final
$2.29M
Range $2.06M – $2.51M · ±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
$95 / 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
$64,354
Tax year 2023
Assessed value
$2,239,200
Assessed 2022
Previous assessed
$2,175,300
+2.9% YoY
Effective rate
2.87%
On assessed value
Assessed land
$561,100
Assessed improvement
$1,678,100
Land market value
$561,100
Improvement market value
$1,678,100
Total market value
$2,239,200
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
2003
Construction
CONCRETE
Heating
NONE
Bathrooms
6
Total area
24,131 SF
Lot
2.67 ac (116,305 SF)
APN
22-24501-01-020
UPID
US46-0695025
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
$3.3M
WAREHOUSE, STORAGE
Est. value
$3.7M
RETAIL STORES
Est. value
$3.4M
OFFICE BUILDING Current
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
2003
Construction
CONCRETE
Heating
NONE
Bathrooms
6
Lot
2.67 ac
Current owner
From public records · entity-resolved
Coons Family LLC
Entity
Mailing address
20809 KENSINGTON BLVD, LAKEVILLE, MN 55044-8353
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 29, 2024
—
Coons Family LLC
—
Deed
related
$2,170,000 · Visionbank Of Iowa
Nov 27, 2018
—
Coons Family LLC
—
Deed
related
$162,373 · Vision Bk
Jan 12, 2004
—
Coons Family LLC
—
Trustees Deed
related
$840,480 · Landmark Community Bank
—
—
Coons Family LLC
—
Loan Modification
related
$162,373 · Vision Bk
—
—
Coons Family LLC
—
Deed Of Trust
related
$1,000,000 · Prinsource Business Credit LLC
—
—
Coons Family LLC
—
Deed Of Trust
related
$350,000 · Anchor Bank Farmington
—
—
Coons Family LLC
—
Deed Of Trust
related
$864,000 · Twin Cities-metro Certified De
—
—
Advanced Wireless
—
Deed Of Trust
related
$200,000 · Expert Financial Services INC
—
—
Coons Family LLC
—
Deed Of Trust
related
$300,000 · Anchor Bank Farmington
—
—
Coons Family LLC
—
Deed Of Trust
related
$1,500,000 · Itasca Business Credit INC
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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