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Property profile & analytics
OFF-MARKET
Estimated value
$4,370,000
Industrial properties
21400 Hamburg Ave Lakeville, MN 55044-8993
Entity Owned
21-yr Hold
Free & Clear
Property ID
US46-0760470
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1977
Construction
CONCRETE
Total area
52,748 SF
Lot
5.48 ac (238,709 SF)
APN
22-11100-01-084
UPID
US46-0760470
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
$5.97M
Blend (final)
Blend
$4.37M
Owner & transaction history
Jwb LLC · 21 yrs held
Jwb LLC
since 2005
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$7.2M
+62.7%
Apartment house (5+ units)
$4.5M
+1.3%
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
INDUSTRIAL (GENERAL)
$4,440,000
Current use
OFFICE BUILDING
$7,225,000
Change: +63% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$4,500,000
Change: +1% · Conversion: Difficult
Blend value · Realmo final
$4.37M
Range $3.93M – $4.81M · ±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
$83 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$123,016
Tax year 2022
Assessed value
$4,233,400
Assessed 2022
Previous assessed
$4,233,400
+0.0% YoY
Effective rate
2.91%
On assessed value
Assessed land
$892,500
Assessed improvement
$3,340,900
Land market value
$892,500
Improvement market value
$3,340,900
Total market value
$4,233,400
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1977
Construction
CONCRETE
Heating
NONE
Buildings
3
Bathrooms
9
Total area
52,748 SF
Lot
5.48 ac (238,709 SF)
APN
22-11100-01-084
UPID
US46-0760470
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
INDUSTRIAL (GENERAL) Current
Est. value
$4.4M
OFFICE BUILDING
Est. value
$7.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.5M
INDUSTRIAL (GENERAL) Current
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
1977
Construction
CONCRETE
Heating
NONE
Buildings
3
Bathrooms
9
Lot
5.48 ac
Current owner
From public records · entity-resolved
Jwb LLC
Entity
Free & Clear · 21 yrs held
Mailing address
7965 215TH ST W, LAKEVILLE, MN 55044-9016
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 13, 2016
—
Jwb LLC
—
Deed
related
$700,000 · New Market Bank
Jun 7, 2005
$645,421
Jwb LLC
City Of Lakeville
Grant Deed
—
Jun 7, 2005
$500
Jwb LLC
Barum,jeffrey W & Lori J
Warranty Deed
related
—
—
—
Jwb LLC
—
Deed Of Trust
related
$200,000 · New Market 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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