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Property profile & analytics
OFF-MARKET
Estimated value
$1,795,000
Industrial properties
23100 Sugarbush NW Rd Elk River, MN 55330-9157
Individually Owned
5-yr Hold
Free & Clear
Property ID
US46-1049571
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1967
Construction
WOOD FRAME
Total area
12,818 SF
Lot
239.75 ac (10,443,510 SF)
APN
31-34-25-11-0001
UPID
US46-1049571
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
$2.14M
Comparable Approach
Comparable
$1.73M
Blend (final)
Blend
$1.80M
Owner & transaction history
Northrop Grumman Systems Corporatio · 5 yrs held
Northrop Grumman Systems Corporatio
since 2021
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.7M
+142.5%
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 Elk River submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Elk River 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%
$2,320,000
6.5%
$2,140,000
7%
$1,990,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,105,000
Current use
COMMERCIAL (GENERAL)
$2,675,000
Change: +142% · Conversion: Difficult
Blend value · Realmo final
$1.80M
Range $1.62M – $1.97M · ±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
$140 / 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
$61,508
Tax year 2024
Assessed value
$2,814,000
Assessed 2024
Previous assessed
$2,814,000
+0.0% YoY
Effective rate
2.19%
On assessed value
Assessed land
$1,026,500
Assessed improvement
$1,787,500
Land market value
$1,026,500
Improvement market value
$1,787,500
Total market value
$2,814,000
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
Off-Market
Year built
1967
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
EVAPORATIVE
Stories
1
Total area
12,818 SF
Lot
239.75 ac (10,443,510 SF)
APN
31-34-25-11-0001
UPID
US46-1049571
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
$1.1M
COMMERCIAL (GENERAL)
Est. value
$2.7M
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
1967
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
239.75 ac
Current owner
From public records · entity-resolved
Northrop Grumman Systems Corporatio
Individual
Free & Clear · 5 yrs held
Mailing address
2980 FAIRVIEW PARK DR, FALLS CHURCH, VA 22042-4511
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
—
Northrop Grumman Systems Corporatio
Northrop Grumman Innovation Systems
Quit Claim Deed
related
—
Apr 25, 2019
$500
Northrop Grumman Nnovation Sys
Northrop Grumman Innovation Sy
Quit Claim Deed
related
—
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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