Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$5,055,000
Office buildings
20855 Kensington Blvd Lakeville, MN 55044-7542
Entity Owned
18-yr Hold
Free & Clear
Property ID
US46-0477938
Property summary
AI-generated overview
This exceptional two-story office building, located at 20855 Kensington Blvd in Lakeville, Minnesota, offers a variety of executive office spaces for lease. The property boasts a total of 54,986 square feet, situated on a generous 5.02-acre lot. Multiple tenancy options are available, with spaces ranging from a minimum of 2,999 square feet to a maximum contiguous space of 45,900 square feet. Currently, there is 87,321 square feet of vacant space ready for immediate occupancy. Built in 1996, this well-maintained building is zoned O-P Office Park, ensuring compatibility with a range of professional businesses. The property's address is 20855 Kensington Blvd, Lakeville, MN 55044, and its location within Dakota County provides easy access to major transportation routes and amenities. The property's APN is 22-24501-01-010. This is an excellent opportunity for businesses seeking high-quality, flexible office space in a desirable location. Contact us today to learn more about leasing options and explore the possibilities for your business.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1996
Construction
CONCRETE
Total area
54,986 SF
Lot
5.02 ac (218,671 SF)
APN
22-24501-01-010
UPID
US46-0477938
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
-
Idaho PERCS Ambulance Service
-
NMEMSTARS Ambulance Service
-
Little Trenders Preschool High School Daycare Center
-
ImageTrend LLC (Bike/Boat/Book/etc) Store Corporate Office
-
Michigan EMS Information System Ambulance Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.44M
Blend (final)
Blend
$5.06M
Owner & transaction history
Imagetrend Dev LLC · 18 yrs held
Imagetrend Dev LLC
since 2008
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$8.4M
+11.2%
Retail stores
$7.8M
+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
$7,530,000
Current use
WAREHOUSE, STORAGE
$8,375,000
Change: +11% · Conversion: Difficult
RETAIL STORES
$7,835,000
Change: +4% · Conversion: Moderate
Blend value · Realmo final
$5.06M
Range $4.55M – $5.56M · ±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
$92 / 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
$135,372
Tax year 2023
Assessed value
$4,608,000
Assessed 2022
Previous assessed
$4,478,000
+2.9% YoY
Effective rate
2.94%
On assessed value
Assessed land
$1,070,500
Assessed improvement
$3,537,500
Land market value
$1,070,500
Improvement market value
$3,537,500
Total market value
$4,608,000
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
1996
Construction
CONCRETE
Heating
NONE
Bathrooms
5
Total area
54,986 SF
Lot
5.02 ac (218,671 SF)
APN
22-24501-01-010
UPID
US46-0477938
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
$7.5M
WAREHOUSE, STORAGE
Est. value
$8.4M
RETAIL STORES
Est. value
$7.8M
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
1996
Construction
CONCRETE
Heating
NONE
Bathrooms
5
Lot
5.02 ac
Current owner
From public records · entity-resolved
Imagetrend Dev LLC
Entity
Free & Clear · 18 yrs held
Mailing address
20855 KENSINGTON BLVD, LAKEVILLE, MN 55044-7542
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 26, 2018
—
Imagetrend Dev LLC
—
Deed
related
$2,168,900 · Wells Fargo Bk
Jun 22, 2011
—
Imagetrend Dev LLC
—
Grant Deed
related
$2,049,500 · Anchor Bank NA
Feb 11, 2008
$279,000
Imagetrend Dev LLC
Hansen,christopher K & Angela J
Warranty Deed
—
Feb 11, 2008
$744,000
Imagetrend Dev LLC
Symington,john A & Unni
Warranty Deed
—
Feb 11, 2008
$651,000
Imagetrend Dev LLC
Mathews,richard K
Warranty Deed
—
Feb 11, 2008
$930,000
Imagetrend Dev LLC
Rockford Road Investment
Warranty Deed
$2,480,000 · Anchor Bank Farmington
Feb 11, 2008
$310,000
Imagetrend Dev LLC
Bingham,james R
Warranty Deed
—
Feb 11, 2008
$186,000
Imagetrend Dev LLC
Slade-bingham Ptshp LLP
Warranty Deed
—
—
—
Imagetrend Dev LLC
—
Deed Of Trust
related
$2,624,096 · Anchor Bank NA
—
—
Imagetrend Dev LLC
—
Deed Of Trust
related
$2,168,900 · Wells Fargo Bk
—
—
Imagetrend Dev LLC
—
Deed Of Trust
related
$2,096,000 · Twin Cities-metro Cert Dev Co
—
—
Imagetrend Dev LLC
—
Deed Of Trust
related
$2,049,500 · Anchor Bank NA
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 20855 Kensington Blvd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
