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Property profile & analytics
OFF-MARKET
Estimated value
$840,000
Office buildings
2510 Lexington S Ave, Mendota Heights, MN 55120-1260
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US46-0590555
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2001
Construction
WOOD FRAME
Total area
7,208 SF
Lot
0.64 ac (27,878 SF)
APN
27-48315-01-020
UPID
US46-0590555
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
-
Isalis (Bike/Boat/Book/etc) Store
-
Party City Party Supply Store (Bike/Boat/Book/etc) Store
-
Skunk Funk Big Box & Wholesale Store
-
Carl's Trading Co Hat Shop
-
Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$800k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$748k
Blend (final)
Blend
$840k
Owner & transaction history
2510 Lexington Avenue LLC · 4 yrs held
2510 Lexington Avenue LLC
since 2021
Last sale
$860,000
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$1.2M
+53.3%
Medical building
$1.1M
+34.6%
Warehouse, storage
$830,000
+5.2%
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
$835,000
ML approach
$800,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$790,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,210,000
Change: +53% · Conversion: Difficult
MEDICAL BUILDING
$1,060,000
Change: +35% · Conversion: Easy
WAREHOUSE, STORAGE
$830,000
Change: +5% · Conversion: Difficult
RETAIL STORES
$735,000
Change: -7% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$665,000
Change: -16% · Conversion: Easy
Blend value · Realmo final
$840k
Range $756k – $924k · ±10% · vs last sale $860k (Jul 27 2021)
Last sale anchor
$860k
Jul 27 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
$117 / 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
$20,484
Tax year 2023
Assessed value
$807,800
Assessed 2022
Previous assessed
$807,800
+0.0% YoY
Effective rate
2.54%
On assessed value
Assessed land
$321,900
Assessed improvement
$485,900
Land market value
$321,900
Improvement market value
$485,900
Total market value
$807,800
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2001
Construction
WOOD FRAME
Heating
NONE
Bathrooms
2
Total area
7,208 SF
Lot
0.64 ac (27,878 SF)
APN
27-48315-01-020
UPID
US46-0590555
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
OFFICE BUILDING Current
Est. value
$790,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$1.1M
WAREHOUSE, STORAGE
Est. value
$830,000
RETAIL STORES
Est. value
$735,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$665,000
OFFICE BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
WAREHOUSE, STORAGE
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
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
2001
Construction
WOOD FRAME
Heating
NONE
Bathrooms
2
Lot
0.64 ac
Current owner
From public records · entity-resolved
2510 Lexington Avenue LLC
Entity
Mailing address
2510 LEXINGTON AVE S, MENDOTA HEIGHTS, MN 55120-1260
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 27, 2021
$860,000
2510 Lexington Avenue LLC
Old Mill Commercial Properties LLC
Warranty Deed
$880,000 · Bridgewater Bank
Apr 18, 2018
—
Old Mill Coml Prop LLC
—
Deed
related
$600,000 · Miscellaneous Govt Agcy
Aug 1, 2014
$625,000
Old Mill Commercial Props LLC
Air Transport District Ldg 143
Warranty Deed
$345,500 · Sunrise Bk
—
—
Old Mill Commercial Props LLC
—
Deed Of Trust
related
$286,000 · Spedco
—
—
Old Mill Commercial Props LLC
—
Deed Of Trust
related
$345,500 · Spedco
—
—
Old Mill Coml Prop LLC
—
Deed Of Trust
related
$600,000 · Miscellaneous Govt Agcy
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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