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Property profile & analytics
OFF-MARKET
Estimated value
$805,000
Office buildings
28 8th St Farmington, MN 55024-1162
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US46-0684402
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1991
Construction
WOOD FRAME
Total area
4,800 SF
Lot
5.88 ac (256,133 SF)
APN
14-03100-23-020
UPID
US46-0684402
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
-
Dakota County Lumber Co. Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$975k
Comparable Approach
Comparable
$790k
Blend (final)
Blend
$805k
Owner & transaction history
Dakota County Lumber Co · 7 yrs held
Dakota County Lumber Co
since 2019
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$950,000
+63.6%
Auto repair, garage
$820,000
+40.8%
Warehouse, storage
$730,000
+25.7%
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 Farmington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Farmington 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%
$1,060,000
6.5%
$975,000
7%
$905,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$580,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$950,000
Change: +64% · Conversion: Difficult
AUTO REPAIR, GARAGE
$820,000
Change: +41% · Conversion: Difficult
WAREHOUSE, STORAGE
$730,000
Change: +26% · Conversion: Difficult
RETAIL STORES
$685,000
Change: +18% · Conversion: Moderate
Blend value · Realmo final
$805k
Range $725k – $886k · ±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
$168 / 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
$23,684
Tax year 2023
Assessed value
$810,600
Assessed 2022
Previous assessed
$810,600
+0.0% YoY
Effective rate
2.92%
On assessed value
Assessed land
$565,700
Assessed improvement
$244,900
Land market value
$565,700
Improvement market value
$244,900
Total market value
$810,600
Applied tax rate
14.0000
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
1991
Construction
WOOD FRAME
Heating
NONE
Buildings
3
Bathrooms
3
Total area
4,800 SF
Lot
5.88 ac (256,133 SF)
APN
14-03100-23-020
UPID
US46-0684402
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
$580,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$950,000
AUTO REPAIR, GARAGE
Est. value
$820,000
WAREHOUSE, STORAGE
Est. value
$730,000
RETAIL STORES
Est. value
$685,000
OFFICE BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
RETAIL STORES
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
1991
Construction
WOOD FRAME
Heating
NONE
Buildings
3
Bathrooms
3
Lot
5.88 ac
Current owner
From public records · entity-resolved
Dakota County Lumber Co
Entity
Mailing address
28 8TH ST, FARMINGTON, MN 55024-1162
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 13, 2019
—
Dakota County Lumber Co
—
Deed
related
$649,250 · Bankcherokee
Sep 16, 2009
—
Dakota County Lumber Co
—
Trustees Deed
related
$700,000 · Bankcherokee
—
—
Dakota County Lumber Co
—
Deed Of Trust
related
$132,854 · Cherokee State Bank
—
—
Dakota County Lumber Co
—
Deed Of Trust
related
$477,000 · Bankcherokee
—
—
Dakota County Lumber Co
—
Deed Of Trust
related
$649,250 · Bankcherokee
—
—
Dakota County Lumber Co
—
Deed Of Trust
related
$190,000 · Bankcherokee
—
—
Dakota County Lumber Co
—
Deed Of Trust
related
$145,768 · Bankcherokee
—
—
Dakota County Lumber Co
—
Loan Modification
related
$474,274 · Bankcherokee
—
—
Dakota County Lumber Co
—
Deed Of Trust
related
$191,158 · Bankcherokee
—
—
Dakota County Lumber Co
—
Deed Of Trust
related
$250,000 · Cherokee State Bank
—
—
Dakota County Lumber Co
—
Deed Of Trust
related
$700,000 · Bankcherokee
—
—
Dakota County Lumber Co
—
Deed Of Trust
related
$700,000 · Bankcherokee
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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