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Property profile & analytics
OFF-MARKET
Estimated value
$685,000
Industrial properties
3901 Thurston NW Ave, Anoka, MN 55303-1088
Entity Owned
3-yr Hold
Free & Clear
Property ID
US46-0822000
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1976
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
5,880 SF
Lot
1.83 ac (79,715 SF)
Zoning code
M-1
APN
36-32-25-22-0069
UPID
US46-0822000
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
$665k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$514k
Blend (final)
Blend
$685k
Owner & transaction history
3901 Thurston LLC · 3 yrs held
3901 Thurston LLC
since 2022
Last sale
$675,000
7 recorded transactions
Zoning & alternative use
M-1 · Anoka, MN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.0M
+88.0%
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 Anoka submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Anoka 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
$715,000
ML approach
$665,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$555,000
Current use
COMMERCIAL (GENERAL)
$1,045,000
Change: +88% · Conversion: Difficult
Blend value · Realmo final
$685k
Range $617k – $754k · ±10% · vs last sale $675k (Dec 29 2022)
Last sale anchor
$675k
Dec 29 2022
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
$116 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$12,606
Tax year 2024
Assessed value
$526,600
Assessed 2024
Previous assessed
$526,600
+0.0% YoY
Effective rate
2.39%
On assessed value
Assessed land
$159,400
Assessed improvement
$367,200
Land market value
$159,400
Improvement market value
$367,200
Total market value
$526,600
Applied tax rate
1.0000
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1976
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
EVAPORATIVE
Stories
1
Total area
5,880 SF
Lot
1.83 ac (79,715 SF)
Zoning code
M-1
APN
36-32-25-22-0069
UPID
US46-0822000
Jurisdiction
ANOKA
Zoning & alternative use
M-1 · Anoka, MN
Zoning M-1 · permitted uses
M-1 · Anoka, MN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Anoka. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$555,000
COMMERCIAL (GENERAL)
Est. value
$1.0M
INDUSTRIAL (GENERAL) Current
COMMERCIAL (GENERAL)
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
1976
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
1.83 ac
Current owner
From public records · entity-resolved
3901 Thurston LLC
Entity
Free & Clear · 3 yrs held
Mailing address
2630 E MEDICINE LK BLVD, MINNEAPOLIS, MN 55441-3234
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 26, 2023
—
3901 Thurston LLC
—
Deed
related
$500,000 · First Minnetonka City Bank
Dec 29, 2022
$675,000
3901 Thurston LLC
Holding Thurston LLC
Quit Claim Deed
related
—
Sep 22, 2022
$675,000
Holding Thurston LLC
Semler Properties LLC
Warranty Deed
—
Aug 30, 2016
$330,000
Semler Properties LLC
Barrett,christopher A
Warranty Deed
$264,000 · Us Bk
Sep 22, 2008
—
Christopher A Barrett
—
Trustees Deed
related
$40,000 · First National Bank Elk River
—
—
Barrett,christopher A
—
Deed Of Trust
related
$155,000 · First Nat'l Bk/elk River
—
—
Christopher A Barrett
—
Deed Of Trust
related
$247,826 · First National Bank Elk River
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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