Property profile

379 Commerce Ct Vadnais Heights, MN 55127

OFF-MARKET
Commercial land
Property ID
US46-0286002
0.07 ac lot Built 2004
Entity Owned 9-yr Hold Absentee Owner ~ Est. High Equity
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Property summary

AI-generated overview

A 2.28-acre commercial development site in Vadnais Heights, Minnesota, zoned Business Commercial and located near areas designated for Light Industrial. The property includes existing infrastructure suitable for a proposed 22,500+ square foot Office Condo Complex concept comprising three buildings plus an elevator lobby, with seven condominium units and seven PIDs; the site features poured concrete walk-out foundations, city water and sewer connections, natural gas and electric service, concrete curb and gutter, a paved parking lot, and storm sewer with a retention pond. Foundation areas for the three buildings are 4,386 sq. ft., 3,032 sq. ft., and 3,032 sq. ft., excluding the elevator lobby, and the foundations were structurally certified in 2022. The existing bituminous parking lot is present but would require improvements. Civil engineering drawings, building plans, and CIC documents are available, and alternative development pathways include re-platting and potential rezoning for industrial use, including possible garage-condominium development, or designing a new development using the utilities already installed.

Property profile

Verified
Property type Commercial land
Use group VACANT COMMERCIAL LAND
Year built 2004
Lot 0.07 ac (3,049 SF)
APN 20-30-22-23-0063
UPID US46-0286002

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

379 Commerce Ct Vadnais Heights, MN 55127-8506
Vadnais Heights metro Census 40603 MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$210k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$210k

Owner & transaction history

since 2017
3 recorded transactions
2017
$500
2013
Price N/A
2009
$1.3M

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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