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Property profile & analytics
OFF-MARKET
Estimated value
$6,930,000
Industrial properties
21673 Cedar Ave Lakeville, MN 55044-9073
Individually Owned
6-yr Hold
~
Est. High Equity
Property ID
US46-3245061
Property profile
Verified
Property type
Industrial properties
Use group
CONDOMINIUMS (INDUSTRIAL)
Year built
1985
Construction
CONCRETE
Total area
99,365 SF
APN
22-56900-05-001
UPID
US46-3245061
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
-
X-Stand Tree Stands Industrial Manufacturer Production Facility
-
Bare Necessities Nutrition Specialty Food Shop
-
Rambo Bikes Corporate Office
-
Hoffmans Custom Cabinets General Contractor Renovation Specialist
-
Sniper Treestands Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$7.79M
Blend (final)
Blend
$6.93M
Owner & transaction history
Numerically Automated Cutting Syste · 6 yrs held
Numerically Automated Cutting Syste
since 2019
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$8.5M
+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)
$8,365,000
Current use
APARTMENT HOUSE (5+ UNITS)
$8,475,000
Change: +1% · Conversion: Difficult
Blend value · Realmo final
$6.93M
Range $6.24M – $7.62M · ±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
$70 / 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
$159,352
Tax year 2023
Assessed value
$5,524,400
Assessed 2022
Previous assessed
$4,979,700
+10.9% YoY
Effective rate
2.88%
On assessed value
Assessed land
$588,800
Assessed improvement
$4,935,600
Land market value
$588,800
Improvement market value
$4,935,600
Total market value
$5,524,400
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
CONDOMINIUMS (INDUSTRIAL)
Status
Off-Market
Year built
1985
Construction
CONCRETE
Heating
NONE
Bathrooms
6
Total area
99,365 SF
APN
22-56900-05-001
UPID
US46-3245061
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
$8.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$8.5M
INDUSTRIAL (GENERAL) Current
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
1985
Construction
CONCRETE
Heating
NONE
Bathrooms
6
Current owner
From public records · entity-resolved
Numerically Automated Cutting Syste
Individual
Mailing address
21673 CEDAR AVE, LAKEVILLE, MN 55044-9073
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 3, 2019
$5,800,000
Numerically Automated Cutting Syste
Nlsc Properties LLC
Warranty Deed
$10,000,000 · First Merchants Bank
Dec 18, 2018
—
Nlsc Properties LLC
—
Deed
related
$1,985,148 · Reliance Bk
Dec 22, 2017
$4,000,000
Nlsc Properties LLC
Tfl2 LLC
Limited Warranty Deed
$2,481,435 · Reliance Bank
Oct 9, 2006
$3,500,000
Tfl 2 LLC
Performance Office Papers INC
Warranty Deed
$2,500,000 · General Elec Com'l Fin Busines
—
—
Nlsc Properties LLC
—
Loan Modification
related
$1,985,148 · Reliance Bk
—
—
Tfl 2 LLC
—
Deed Of Trust
related
$620,000 · General Elec Com'l Fin Busines
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.
Try Rey
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