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Property profile & analytics
FOR LEASE
Industrial properties
225 Thomas Ave N, Minneapolis, MN 55405
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US46-0365698
For Lease
1 / 2
$1,545,000
225 Thomas Ave N, Minneapolis, MN 55405
View Listing →
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1940
Construction
CONCRETE
Total area
49,706 SF
Lot
2.12 ac (92,347 SF)
APN
20-029-24-44-0088
UPID
US46-0365698
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
-
Nordic Julemarket Association Or Organization
-
Military Supply USA. Marketing & Advertising IT Consulting Firm
-
Push Interactive Marketing & Advertising
-
Post and Proper Marketing & Advertising Advertising Agency
-
Really Spicy Opera Theater & Performing Art Venue Music Venue
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.55M
Owner & transaction history
Lazy Creek Properties LLC · 3 yrs held
Lazy Creek Properties LLC
since 2023
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Minneapolis submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Minneapolis 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$31 / 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
$75,043
Tax year 2023
Assessed value
$2,480,000
Assessed 2023
Previous assessed
$2,067,000
+20.0% YoY
Effective rate
3.03%
On assessed value
Assessed land
$794,500
Assessed improvement
$1,685,500
Land market value
$794,500
Improvement market value
$1,685,500
Total market value
$2,480,000
Applied tax rate
1.0000
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
For Lease
Year built
1940
Construction
CONCRETE
Heating
CONVECTION
Stories
1
Total area
49,706 SF
Lot
2.12 ac (92,347 SF)
APN
20-029-24-44-0088
UPID
US46-0365698
Jurisdiction
HENNEPIN
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1940
Construction
CONCRETE
Heating
CONVECTION
Stories
1
Lot
2.12 ac
Current owner
From public records · entity-resolved
Lazy Creek Properties LLC
Entity
Mailing address
225 THOMAS AVE N, MINNEAPOLIS, MN 55405-3055
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 9, 2023
—
Lazy Creek Properties LLC
Atglenwood LLC
Warranty Deed
—
Feb 7, 2023
$4,700,000
Lazy Creek Properties LLC
Atglenwood LLC
Warranty Deed
—
Jun 11, 2018
—
Atglenwood LLC
—
Deed
related
$450,000 · Bridgewater Bk
Aug 31, 1999
$149,000
Dennis J Smith
Conn,grace L
Grant Deed
$126,650 · Home Town Mortgage INC
—
—
Dennis J Smith
—
Deed Of Trust
related
$160,000 · Farmers Bank
—
—
Atglenwood LLC
—
Loan Modification
related
$450,000 · Bridgewater Bk
—
—
Kristen M Smith
—
Deed Of Trust
related
$100,000 · Citimortgage INC
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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