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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3820 Hoffman Rd White Bear Lake, MN 55110-5001

    • Apartment buildings
    • 211,420 SF
    • 5.22 lot acres
    OFF-MARKET
    Last Sale
    Jan 23, 2025
    $18,085,552
    Value Estimations
    $18,305,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US46-1947246
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Apartment buildings

    Property Details for 3820 Hoffman Rd

    Year built
    2015
    Lot size
    5.22 lot acres
    Property size
    211,420 SF
    Property type
    Apartment buildings
    APN
    27-30-22-41-0137
    APU
    273022410137

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $15,575,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $21,468,000
      Market price range: $11.8M - $27.0M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $19,440,000
      Current use
      OFFICE BUILDING
      $24,675,000
      Change: +27% Conversion: Moderate
      WAREHOUSE, STORAGE
      $24,360,000
      Change: +25% Conversion: Difficult
      RETAIL STORES
      $21,615,000
      Change: +11% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    White Bear Lake
    County
    Ramsey
    State
    Minnesota
    Longitude
    -93.0286
    Latitude
    45.057
    CBSA code
    33460
    CBSA name
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $433,026
    $2,720,000
    $26,753,900
    $29,473,900
    -
    $2,720,000
    $26,753,900
    $29,473,900

    Comparable in this City

    • Value Estimation
      $2,935,000
      32,352 SF

      3900 Linden St

      APARTMENT HOUSE (5+ UNITS) • 32,352 SF
      3900 Linden St, White Bear Lake, MN 55110-5500
      View Details
    • Value Estimation
      $3,470,000
      40,320 SF

      3731 Highland Ave

      APARTMENT HOUSE (5+ UNITS) • 40,320 SF
      3731 Highland Ave, White Bear Lake, MN 55110-7340
      View Details
    • Value Estimation
      $5,770,000
      68,616 SF

      2095 Dotte Dr

      APARTMENT HOUSE (5+ UNITS) • 68,616 SF
      2095 Dotte Dr, White Bear Lake, MN 55110-4372
      View Details
    • Value Estimation
      $13,660,000
      156,090 SF

      1260 County Rd Ee

      APARTMENT HOUSE (100+ UNITS) • 156,090 SF
      1260 County Rd Ee, Vadnais Heights, MN 55110-5132
      View Details
    • Value Estimation
      $1,140,000
      11,130 SF

      2048 County Rd F E F

      APARTMENT HOUSE (5+ UNITS) • 11,130 SF
      2048 County Rd F E F, White Bear Lake, MN 55110-3833
      View Details
    • Value Estimation
      $5,135,000
      13,386 SF

      3525 Century N Ave

      APARTMENT HOUSE (5+ UNITS) • 13,386 SF
      3525 Century N Ave, White Bear Lake, MN 55110-5694
      View Details

    Similar Nearby for Sale

    • $1,700,000
      6,000 SF

      White Bear Lake Retail Portfolio

      Multi-tenant retail investment, high cap rate.
      4070 White Bear Ave, White Bear Lake, MN 55110
      View Details
    • $876,000
      25.22 Acres

      Gateway to Hugo Commercial Land

      Prime 25-Acre Commercial Tract in Hugo, MN
      12101 Forest Blvd, White Bear Lake, MN 55110
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    • $160,000
      0.35 Acres

      Land Near White Bear Lake

      Residential lot near White Bear Lake with community beach access.
      Tbd Park Ave, Saint Paul, MN 55110
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    • $3,900,000
      3.65 Acres

      Land For Sale, White Bear

      3.65 acre commercial and industrial land in White Bear Township.
      1177 N Birch Lake Blvd, Saint Paul, MN 55110
      View Details
    • $2,100,000

      Vadnais Heights Development Land

      Prime development land with high traffic and accessibility.
      Talmage Cir, Vadnais Heights, MN 55110
      View Details
    • Contact for pricing
      52,809 SF

      Industrial Property with Expansion Potential

      Industrial property with freeway access and expansion possibilities.
      1275 Willow Lake Blvd, Vadnais Heights, MN 55110
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      65,871 SF

      Vadnais Heights Warehouse with Storage

      Warehouse space available for lease with outdoor storage options.
      980 Berwood Ave E, Vadnais Heights, MN 55110
      View Details
    • Contact for pricing
      2,800 SF

      Industrial Space with Drive-In Doors

      Industrial suites with drive-in doors available for lease.
      3276 Fanum Rd, Vadnais Heights, MN 55110
      View Details
    • Contact for pricing
      10,832 SF

      Vadnais Heights Industrial Building For Rent

      Industrial building with drive-ins and outdoor storage available for rent.
      3250 Fanum Rd, Vadnais Heights, MN 55110
      View Details
    • Contact for pricing

      Office/Warehouse Space Near Airport

      Office/warehouse space for lease near Minneapolis-Saint Paul International Airport.
      White Bear Lake, MN 55110
      View Details
    • Contact for pricing
      15,000 SF

      Vadnais Heights Office/Tech Space

      15,000 SF office/tech space available for lease.
      1185 Willow Lake Blvd, Vadnais Heights, MN 55110
      View Details
    • Contact for pricing

      Industrial Garage Space For Lease

      Industrial garage space for lease near Highway I-694 & I-35E.
      3301-3325 Labore Rd, Saint Paul, MN 55110
      View Details
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    White Bear Lake, MN 55110-5001
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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