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Property profile & analytics
FOR LEASE
Showrooms
21170 Eaton Ave, Farmington, MN 55024
Entity Owned
~
Est. High Equity
Property ID
US46-0509757
For Lease
1 / 2
$1,505,000
21170 Eaton Ave, Farmington, MN 55024
View Listing →
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
2004
Construction
CONCRETE
Total area
12,151 SF
Lot
1.37 ac (59,677 SF)
Zoning code
R
APN
14-25850-01-040
UPID
US46-0509757
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.51M
Blend (final)
Blend
$1.51M
Owner & transaction history
Ddr Properties LLC
Ddr Properties LLC
since 2026
Last sale
$1.4M
7 recorded transactions
Zoning & alternative use
R · Farmington, MN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$2.4M
+138.6%
Restaurant
$2.4M
+133.4%
Auto repair, garage
$2.1M
+105.4%
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)
$1,010,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$2,410,000
Change: +139% · Conversion: Difficult
RESTAURANT
$2,355,000
Change: +133% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,075,000
Change: +105% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,850,000
Change: +83% · Conversion: Difficult
RETAIL STORES
$1,730,000
Change: +72% · Conversion: Easy
OFFICE BUILDING
$1,475,000
Change: +46% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$1,035,000
Change: +3% · Conversion: Moderate
Blend value · Realmo final
$1.51M
Range $1.35M – $1.66M · ±10% · vs last sale $1.41M (Oct 1 2024)
Last sale anchor
$1.41M
Oct 1 2024
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
$124 / 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
$27,824
Tax year 2023
Assessed value
$905,400
Assessed 2022
Previous assessed
$829,200
+9.2% YoY
Effective rate
3.07%
On assessed value
Assessed land
$194,400
Assessed improvement
$711,000
Land market value
$194,400
Improvement market value
$711,000
Total market value
$905,400
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
For Lease
Year built
2004
Construction
CONCRETE
Heating
NONE
Bathrooms
4
Total area
12,151 SF
Lot
1.37 ac (59,677 SF)
Zoning code
R
APN
14-25850-01-040
UPID
US46-0509757
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
$1.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.4M
RESTAURANT
Est. value
$2.4M
AUTO REPAIR, GARAGE
Est. value
$2.1M
WAREHOUSE, STORAGE
Est. value
$1.9M
RETAIL STORES
Est. value
$1.7M
OFFICE BUILDING
Est. value
$1.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.0M
COMMERCIAL (GENERAL) Current
NEIGHBORHOOD: SHOPPING CENTER
RESTAURANT
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
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
2004
Construction
CONCRETE
Heating
NONE
Bathrooms
4
Lot
1.37 ac
Current owner
From public records · entity-resolved
Ddr Properties LLC
Entity
Mailing address
15845 EASTBEND WAY, APPLE VALLEY, MN 55124-8095
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
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 27, 2026
$1,610,000
Ddr Properties LLC
D & R Minnesota Properties LLC
Warranty Deed
$1,288,000 · Associated Bank
Dec 31, 2024
$1,405,651
D & R Minnesota Properties LLC
Delich Properties LLC
Warranty Deed
$1,054,237 · Citizens Bank Minnesota
Jun 3, 2015
$800,000
Delich Properties LLC
Pettis Properties LLC
Warranty Deed
—
Jun 3, 2015
—
Pettis Props Building 2 LLC
Anchor Bk
Grant Deed
related
—
May 6, 2014
$700,000
Delich Properties LLC
Pettis Props Building 2 LLC
Dual Purpose Document
$560,000 · Pettis Props Building 2 LLC
Feb 26, 2004
$69,733
Pettis Props Building 2 LLC
Pettis Properties LLC
Warranty Deed
related
—
—
—
Pettis Properties LLC
—
Deed Of Trust
related
$633,750 · Anchor Bank Farmington
—
—
Pettis Properties LLC
—
Deed Of Trust
related
$63,750 · Anchor Bank Farmington
—
—
Pettis Properties LLC
—
Deed Of Trust
related
$633,750 · Anchor Bank Farmington
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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