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Property profile & analytics
FOR LEASE
Office buildings
2785 White Bear Ave N Maplewood, MN 55109
Individually Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US46-0839036
For Lease
1 / 2
Contact for pricing
2785 White Bear Ave N, Maplewood, MN 55109
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Property summary
AI-generated overview
The Hazelwood Professional Building, a Class A office property located in the MN - Northeast submarket of Ramsey County, offers a diverse range of office spaces ideal for various business needs. This single, four-story building totaling 37,576 square feet was constructed in 1983 and sits on a 4.16-acre lot. The building currently boasts a 95% occupancy rate, with 8,950 square feet of immediately available space. This space is divisible to a minimum of 914 square feet, with a maximum contiguous space of 8,950 square feet, providing flexibility for businesses of all sizes. The building is zoned BC and caters to multiple tenants, making it suitable for executive offices, medical offices, creative offices, and traditional office setups. Ample parking is available with 115 spaces. The property's strategic location within the MN - Northeast submarket offers excellent accessibility and visibility. Two smaller suites are currently available and ready for immediate occupancy. This presents a unique opportunity to secure high-quality office space in a well-maintained, established building.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1983
Total area
37,576 SF
Lot
4.16 ac (181,166 SF)
Zoning code
B
APN
02-29-22-31-0022
UPID
US46-0839036
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
by Request
Comparable Approach
Comparable
$2.66M
Blend (final)
Blend
$3.02M
Owner & transaction history
Brian T Luger · 4 yrs held
Brian T Luger
since 2021
4 recorded transactions
Zoning & alternative use
B · Maplewood, MN
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 Maplewood submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Maplewood 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,805,000
Current use
APARTMENT HOUSE (5+ UNITS)
$3,520,000
Change: -7% · Conversion: Easy
Blend value · Realmo final
$3.02M
Range $2.72M – $3.32M · ±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
$80 / 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
$118,416
Tax year 2023
Assessed value
$3,567,700
Assessed 2023
Previous assessed
$3,574,500
-0.2% YoY
Effective rate
3.32%
On assessed value
Assessed land
$1,787,600
Assessed improvement
$1,780,100
Land market value
$1,787,600
Improvement market value
$1,780,100
Total market value
$3,567,700
Applied tax rate
622.0000
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 (MULTI-STORY)
Status
For Lease
Year built
1983
Heating
STEAM
Buildings
3
Total area
37,576 SF
Lot
4.16 ac (181,166 SF)
Zoning code
B
APN
02-29-22-31-0022
UPID
US46-0839036
Jurisdiction
RAMSEY
Zoning & alternative use
B · Maplewood, MNZoning B · permitted uses
B · Maplewood, MN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$3.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.5M
OFFICE BUILDING Current
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
1983
Heating
STEAM
Buildings
3
Lot
4.16 ac
Current owner
From public records · entity-resolved
Brian T Luger
Individual
Free & Clear · 4 yrs held
Mailing address
1700 HWY 36TH W, ROSEVILLE, MN 55113-4034
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 15, 2021
—
Brian T Luger
Thomas A Luger
Transfer On Death Deed
related
—
Mar 13, 2006
$2,950,000
Black Marlin Investments INC
Maplewood Executive Partners G
Warranty Deed
—
Jul 21, 1998
—
Partners Maplewood Executive
Johnson,suzanne
Grant Deed
$1,500,000 · Mutual Service Life Ins Co
—
—
Partners Maplewood Executive
—
Deed Of Trust
related
$150,000 · Associated Bank Minnesota
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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