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Property profile & analytics
OFF-MARKET
Estimated value
$595,000
Commercial real estate
23575 Smithtown Rd, Shorewood, MN 55331
Entity Owned
19-yr Hold
Free & Clear
Property ID
US46-3235043
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
2006
Construction
CONCRETE BLOCKS
Lot
2.11 ac (91,912 SF)
APN
34-117-23-24-0045
UPID
US46-3235043
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
$595k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$595k
Owner & transaction history
South Lake Office Building LLC · 19 yrs held
South Lake Office Building LLC
since 2006
6 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 Shorewood submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Shorewood 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
$595,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$595k
Range $536k – $655k · ±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
—
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
$135,226
Tax year 2023
Assessed value
$4,719,000
Assessed 2023
Previous assessed
$4,719,000
+0.0% YoY
Effective rate
2.87%
On assessed value
Assessed land
$1,777,000
Assessed improvement
$2,942,000
Land market value
$1,777,000
Improvement market value
$2,942,000
Total market value
$4,719,000
Applied tax rate
276.0000
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
2006
Construction
CONCRETE BLOCKS
Heating
OTHER
Cooling
YES
Lot
2.11 ac (91,912 SF)
APN
34-117-23-24-0045
UPID
US46-3235043
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
2006
Construction
CONCRETE BLOCKS
Heating
OTHER
Cooling
Yes
Lot
2.11 ac
Current owner
From public records · entity-resolved
South Lake Office Building LLC
Entity
Free & Clear · 19 yrs held
Mailing address
23505 SMITHTOWN RD STE #220, SHOREWOOD, MN 55331-4545
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2006
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
Dec 12, 2016
—
South Lake Office Building LLC
—
Deed
related
$3,720,833 · Wings Fin'l FCU
Jan 28, 2015
—
South Lake Office Building LLC
—
Grant Deed
related
$3,780,000 · Wings Fin'l FCU
Nov 2, 2006
$1,800,000
South Lake Office Building LLC
Minion,lary S
Warranty Deed
—
—
—
South Lake Office Building LLC
—
Deed Of Trust
related
$157,689 · Bank Mutual
—
—
South Lake Office Building LLC
—
Deed Of Trust
related
$157,689 · Bank Mutual
—
—
South Lake Office Building LLC
—
Loan Modification
related
$3,720,833 · Wings Fin'l FCU
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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