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Property profile & analytics
OFF-MARKET
Estimated value
$1,605,000
Assisted living facilities
20949 Keokuk Ave, Lakeville, MN 55044
Entity Owned
~
Est. High Equity
Property ID
US46-1274790
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
2022
Total area
21,904 SF
Lot
3.06 ac (133,294 SF)
Zoning code
R
APN
22-44340-02-010
UPID
US46-1274790
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
-
Suite Living Senior Care of Lakeville Nursing Home Retirement Community
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.59M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.61M
Owner & transaction history
Target Properties Of Lakeville LLC
Target Properties Of Lakeville LLC
since 2026
Last sale
$1.6M
3 recorded transactions
Zoning & alternative use
R · Lakeville, MN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.0M
+481.4%
Office building
$1.8M
+426.9%
Auto repair, garage
$1.1M
+226.7%
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
$1,580,000
ML approach
$1,585,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$2,000,000
Change: +481% · Conversion: Difficult
OFFICE BUILDING
$1,815,000
Change: +427% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,125,000
Change: +227% · Conversion: Difficult
Blend value · Realmo final
$1.61M
Range $1.44M – $1.77M · ±10% · vs last sale $1.63M (Dec 27 2021)
Last sale anchor
$1.63M
Dec 27 2021
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
$73 / 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
$232,530
Tax year 2023
Assessed value
$927,500
Assessed 2022
Previous assessed
$927,500
+0.0% YoY
Effective rate
25.07%
On assessed value
Assessed land
$927,500
Land market value
$927,500
Total market value
$927,500
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
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
2022
Heating
NONE
Total area
21,904 SF
Lot
3.06 ac (133,294 SF)
Zoning code
R
APN
22-44340-02-010
UPID
US46-1274790
Jurisdiction
DAKOTA
Zoning & alternative use
R · Lakeville, MN
Zoning R · permitted uses
R · Lakeville, MN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lakeville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$2.0M
OFFICE BUILDING
Est. value
$1.8M
AUTO REPAIR, GARAGE
Est. value
$1.1M
RESTAURANT
OFFICE BUILDING
AUTO REPAIR, GARAGE
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
2022
Heating
NONE
Lot
3.06 ac
Current owner
From public records · entity-resolved
Target Properties Of Lakeville LLC
Entity
Mailing address
1824 BUERKLE RD, WHITE BEAR LAKE, MN 55110-5245
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 5, 2026
—
Kingspath Target Housing Of Mi
—
Deed
related
$96,285,000
May 5, 2026
$15,023,293
Target Properties Of Lakeville LLC
Coventry Properties Of Lakeville LLC
Warranty Deed
$96,285,000
Dec 27, 2021
$800,000
Landco Investments Of Lakeville LLC
Lakeville Land Ltd
Limited Warranty Deed
$710,000 · Lake Area 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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