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Property profile & analytics
OFF-MARKET
Estimated value
$1,355,000
Office buildings
3570 Lexington N Ave Shoreview, MN 55126-8049
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US46-0916700
Property summary
AI-generated overview
The Lex Center, a Class A office building located at 3570 Lexington Ave N in Shoreview, Minnesota, offers exceptional office space in the Twin Cities North Central submarket. This single, three-story building, totaling 29,000 square feet, underwent a complete renovation in 2024, boasting modern amenities and a vibrant atmosphere. Currently, 8,000 square feet of space is available, divisible into units ranging from a minimum of 750 square feet to a maximum contiguous space of 5,500 square feet. The building features a total of 20 suites, providing flexibility for businesses of various sizes. Ample parking is available with 145 spaces. The property sits on 2.1 acres of land and is conveniently located near County Rd. E. and offers easy access to Highway 694. The building is zoned for commercial use and benefits from its location in Ramsey County. Built in 1980, the recent renovation ensures modern infrastructure and finishes. Property taxes are $2 per square foot. Elevators are available for convenient access to all three floors. This prime location and updated facilities make the Lex Center an ideal choice for businesses seeking high-quality office space in a thriving area.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1980
Total area
29,832 SF
Lot
2.1 ac (91,476 SF)
Zoning code
D
APN
35-30-23-22-0004
UPID
US46-0916700
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
by Request
Blend (final)
Blend
$1.36M
Owner & transaction history
Lex Center LLC · 2 yrs held
Lex Center LLC
since 2023
Last sale
$1.8M
3 recorded transactions
Zoning & alternative use
D · Shoreview, MN
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 Shoreview submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Shoreview 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
$910,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.36M
Range $1.22M – $1.49M · ±10% · vs last sale $1.76M (Aug 14 2023)
Last sale anchor
$1.76M
Aug 14 2023
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
$45 / 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
$71,864
Tax year 2023
Assessed value
$2,000,000
Assessed 2023
Previous assessed
$2,000,000
+0.0% YoY
Effective rate
3.59%
On assessed value
Assessed land
$914,800
Assessed improvement
$1,085,200
Land market value
$914,800
Improvement market value
$1,085,200
Total market value
$2,000,000
Applied tax rate
621.0000
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
Off-Market
Year built
1980
Heating
STEAM
Buildings
2
Total area
29,832 SF
Lot
2.1 ac (91,476 SF)
Zoning code
D
APN
35-30-23-22-0004
UPID
US46-0916700
Jurisdiction
RAMSEY
Zoning & alternative use
D · Shoreview, MN
Zoning D · permitted uses
D · Shoreview, MN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Shoreview. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1980
Heating
STEAM
Buildings
2
Lot
2.1 ac
Current owner
From public records · entity-resolved
Lex Center LLC
Entity
Mailing address
3570 LEXINGTON AVE N #150, SHOREVIEW, MN 55126-8049
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
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
Jul 23, 2025
—
Lex Center LLC
—
Deed
related
$135,000 · Lake Elmo Bank
Aug 14, 2023
$1,755,000
Lex Center LLC
Kochiam International INC
Limited Warranty Deed
$1,554,000 · Lake Elmo Bank
—
—
Kochiam International INC
—
Deed Of Trust
related
$1,040,000 · Western 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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