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Property profile & analytics
OFF-MARKET
Estimated value
$8,265,000
Showrooms
21130 Chippendale W Ave, Farmington, MN 55024-1161
Entity Owned
24-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US46-0786529
Property summary
AI-generated overview
This exceptional Farmington, MN industrial property at 21130 Chippendale Ave offers 18,750 square feet of versatile manufacturing and warehouse space, currently entirely vacant and ready for immediate occupancy. The property is zoned I-1 and features multiple tenancy options, with a minimum divisible space of 6,250 square feet and a maximum contiguous space of 12,500 square feet. Ideal for businesses requiring substantial space and convenient access, the building boasts two dock-high doors and one drive-in door, ensuring efficient loading and unloading of goods. The property's location in Farmington, MN, zip code 55024, provides easy access to major transportation routes, making it a strategic location for distribution and manufacturing operations. This is a rare opportunity to secure a large, flexible industrial space in a prime location. The building's total square footage is 18,750 square feet, providing ample room for various business needs. The property's zoning and features make it suitable for a wide range of industrial uses. Contact us today to learn more about this exceptional opportunity.
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1976
Construction
STEEL FRAME
Total area
94,854 SF
Lot
13.79 ac (600,692 SF)
Zoning code
R
APN
14-03200-80-010
UPID
US46-0786529
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
-
Indigo Industrial Inc Big Box & Wholesale Store
-
Specialty Turf & AG Agricultural Supply Garden Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$8.96M
Blend (final)
Blend
$8.27M
Owner & transaction history
Dakota Storage LLC
Dakota Storage LLC
2 recorded transactions
Zoning & alternative use
R · Farmington, MN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$13.5M
+71.5%
Office building
$11.5M
+45.9%
Apartment house (5+ units)
$8.1M
+2.7%
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 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$7,880,000
Current use
RETAIL STORES
$13,520,000
Change: +72% · Conversion: Easy
OFFICE BUILDING
$11,495,000
Change: +46% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$8,090,000
Change: +3% · Conversion: Moderate
Blend value · Realmo final
$8.27M
Range $7.44M – $9.09M · ±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
$87 / 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
$162,816
Tax year 2023
Assessed value
$5,357,600
Assessed 2022
Previous assessed
$5,357,600
+0.0% YoY
Effective rate
3.04%
On assessed value
Assessed land
$912,200
Assessed improvement
$4,445,400
Land market value
$912,200
Improvement market value
$4,445,400
Total market value
$5,357,600
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
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
Off-Market
Year built
1976
Construction
STEEL FRAME
Heating
NONE
Buildings
2
Bathrooms
5
Total area
94,854 SF
Lot
13.79 ac (600,692 SF)
Zoning code
R
APN
14-03200-80-010
UPID
US46-0786529
Jurisdiction
DAKOTA
Zoning & alternative use
R · Farmington, MN
Zoning R · permitted uses
R · Farmington, MN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Farmington. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$7.9M
RETAIL STORES
Est. value
$13.5M
OFFICE BUILDING
Est. value
$11.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$8.1M
COMMERCIAL (GENERAL) Current
RETAIL STORES
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
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
1976
Construction
STEEL FRAME
Heating
NONE
Buildings
2
Bathrooms
5
Lot
13.79 ac
Current owner
From public records · entity-resolved
Dakota Storage LLC
Entity
Mailing address
8415 220TH ST W, LAKEVILLE, MN 55044-9013
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
—
—
Dakota Storage LLC
—
Deed Of Trust
related
$4,200,243 · Bremer Bank NA
—
—
Dakota Storage LLC
—
Deed Of Trust
related
$4,200,243 · Bremer 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.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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