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Property profile & analytics
OFF-MARKET
Estimated value
$1,170,000
Industrial properties
21535 Cedar Ave Lakeville, MN 55044-9038
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US46-2853022
Property profile
Verified
Property type
Industrial properties
Use group
CONDOMINIUMS (INDUSTRIAL)
Year built
1983
Total area
12,855 SF
APN
22-16800-01-002
UPID
US46-2853022
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
-
Redline Sales & Services (Bike/Boat/Book/etc) Store Building Supply
-
Cedar 70 Business Park Business Park
-
Airlake Development Inc Construction Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.18M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$979k
Blend (final)
Blend
$1.17M
Owner & transaction history
Jwc Business Properties LLC · 5 yrs held
Jwc Business Properties LLC
since 2021
Last sale
$1.2M
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.8M
+69.3%
Office building
$1.8M
+62.7%
Apartment house (5+ units)
$1.1M
+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
$1,145,000
ML approach
$1,175,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,080,000
Current use
RETAIL STORES
$1,830,000
Change: +69% · Conversion: Moderate
OFFICE BUILDING
$1,760,000
Change: +63% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,095,000
Change: +1% · Conversion: Difficult
Blend value · Realmo final
$1.17M
Range $1.05M – $1.29M · ±10% · vs last sale $1.18M (Apr 8 2021)
Last sale anchor
$1.18M
Apr 8 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
$91 / 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
$18,508
Tax year 2023
Assessed value
$694,300
Assessed 2022
Previous assessed
$583,000
+19.1% YoY
Effective rate
2.67%
On assessed value
Assessed land
$193,600
Assessed improvement
$500,700
Land market value
$193,600
Improvement market value
$500,700
Total market value
$694,300
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
CONDOMINIUMS (INDUSTRIAL)
Status
Off-Market
Year built
1983
Heating
NONE
Total area
12,855 SF
APN
22-16800-01-002
UPID
US46-2853022
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
$1.1M
RETAIL STORES
Est. value
$1.8M
OFFICE BUILDING
Est. value
$1.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.1M
INDUSTRIAL (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
1983
Heating
NONE
Current owner
From public records · entity-resolved
Jwc Business Properties LLC
Entity
Mailing address
21541 CEDAR AVE, LAKEVILLE, MN 55044-9038
Ownership since
2021
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
May 25, 2021
—
Jwc Business Properties LLC
—
Deed
related
$489,000 · Amplio Economic Development Corporation
Apr 8, 2021
$1,180,000
Jwc Business Properties LLC
South Cedar LLC
Warranty Deed
$600,000 · Old National 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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