New search
Property profile & analytics
OFF-MARKET
Estimated value
$4,975,000
Industrial properties
2289 Cedar St, Lino Lakes, MN 55038-8782
Entity Owned
12-yr Hold
~
Est. High Equity
Property ID
US46-0435198
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1997
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
41,420 SF
Lot
3.7 ac (161,172 SF)
APN
24-31-22-43-0013
UPID
US46-0435198
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
-
GNW Machine Industrial Manufacturer
-
Evolv Fitness Company Gym & Fitness Center
-
Honor Fitness Gym & Fitness Center
-
Momentum Chiropractic Alternative Medicine Practice
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$6.93M
Comparable Approach
Comparable
$5.04M
Blend (final)
Blend
$4.98M
Owner & transaction history
Northern Development LLC · 12 yrs held
Northern Development LLC
since 2013
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$7.4M
+69.9%
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 Lino Lakes submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lino Lakes 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%
$7,500,000
6.5%
$6,925,000
7%
$6,430,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$4,375,000
Current use
COMMERCIAL (GENERAL)
$7,435,000
Change: +70% · Conversion: Difficult
Blend value · Realmo final
$4.98M
Range $4.48M – $5.47M · ±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
$120 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$109,664
Tax year 2024
Assessed value
$3,311,700
Assessed 2024
Previous assessed
$3,311,700
+0.0% YoY
Effective rate
3.31%
On assessed value
Assessed land
$219,300
Assessed improvement
$3,092,400
Land market value
$219,300
Improvement market value
$3,092,400
Total market value
$3,311,700
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
Off-Market
Year built
1997
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Cooling
EVAPORATIVE
Stories
1
Total area
41,420 SF
Lot
3.7 ac (161,172 SF)
APN
24-31-22-43-0013
UPID
US46-0435198
Jurisdiction
ANOKA
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
COMMERCIAL (GENERAL)
Est. value
$7.4M
INDUSTRIAL (GENERAL) Current
COMMERCIAL (GENERAL)
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
1997
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Cooling
Yes
Stories
1
Lot
3.7 ac
Current owner
From public records · entity-resolved
Northern Development LLC
Entity
Mailing address
2289 E CEDAR ST STE #106, HUGO, MN 55038-8801
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 19, 2013
$2,050,000
Northern Development LLC
Tu Bishvat Realty Ada Compliant Lim
Warranty Deed
$1,042,500 · 21st Century Bank
—
—
Northern Dev LLC
—
Loan Modification
related
$990,616 · Twenty First Century Bk
—
—
Bishvat Realty Ada Complian Tu
—
Deed Of Trust
related
$3,500,000 · Bank Of The Ozarks
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?”
You own 2289 Cedar St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
