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Property profile & analytics
OFF-MARKET
Estimated value
$4,930,000
Industrial properties
2400 Pilot Knob Rd, Mendota Heights, MN 55120-1118
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US46-0982991
Property profile
Verified
Property type
Industrial properties
Use group
CONDOMINIUMS (INDUSTRIAL)
Year built
2004
Construction
CONCRETE
Total area
27,600 SF
APN
27-71286-05-001
UPID
US46-0982991
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
$4.90M
CAP Approach
CAP
$4.62M
Comparable Approach
Comparable
$3.46M
Blend (final)
Blend
$4.93M
Owner & transaction history
Design Properties LLC · 4 yrs held
Design Properties LLC
since 2021
Last sale
$5.1M
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$5.5M
+135.5%
Restaurant
$5.4M
+130.4%
Auto repair, garage
$4.7M
+102.8%
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 Mendota Heights submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mendota Heights 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
$4,940,000
ML approach
$4,895,000
CAP Approach
CAP Return
Estimation
6%
$4,995,000
6.5%
$4,615,000
7%
$4,285,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$5,470,000
Change: +135% · Conversion: Difficult
RESTAURANT
$5,355,000
Change: +130% · Conversion: Difficult
AUTO REPAIR, GARAGE
$4,710,000
Change: +103% · Conversion: Easy
WAREHOUSE, STORAGE
$4,205,000
Change: +81% · Conversion: Easy
RETAIL STORES
$3,935,000
Change: +69% · Conversion: Moderate
OFFICE BUILDING
$3,345,000
Change: +44% · Conversion: Difficult
Blend value · Realmo final
$4.93M
Range $4.44M – $5.42M · ±10% · vs last sale $5.10M (Nov 23 2021)
Last sale anchor
$5.10M
Nov 23 2021
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
$179 / 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
$82,288
Tax year 2023
Assessed value
$3,055,500
Assessed 2022
Previous assessed
$2,851,300
+7.2% YoY
Effective rate
2.69%
On assessed value
Assessed land
$615,500
Assessed improvement
$2,440,000
Land market value
$615,500
Improvement market value
$2,440,000
Total market value
$3,055,500
Applied tax rate
27.0000
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
2004
Construction
CONCRETE
Heating
NONE
Bathrooms
3
Total area
27,600 SF
APN
27-71286-05-001
UPID
US46-0982991
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
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$5.5M
RESTAURANT
Est. value
$5.4M
AUTO REPAIR, GARAGE
Est. value
$4.7M
WAREHOUSE, STORAGE
Est. value
$4.2M
RETAIL STORES
Est. value
$3.9M
OFFICE BUILDING
Est. value
$3.3M
NEIGHBORHOOD: SHOPPING CENTER
RESTAURANT
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
RETAIL STORES
OFFICE BUILDING
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
2004
Construction
CONCRETE
Heating
NONE
Bathrooms
3
Current owner
From public records · entity-resolved
Design Properties LLC
Entity
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 23, 2021
$5,100,000
Design Properties LLC
7 Scruples LLC
Limited Warranty Deed
$2,550,000 · First International Bank & Trust
Dec 22, 2014
$3,300,000
7 Scruples LLC
Med Alley Health Specialties L
Grant Deed
$2,300,000 · * Other Institutional Lenders
—
—
Alley Health Specialties L Med
—
Deed Of Trust
related
$1,700,000 · Wells Fargo Bank
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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