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Property profile & analytics
OFF-MARKET
Estimated value
$4,710,000
Medical Office Space
424 State Hwy 5th 5 Waconia, MN 55387-1723
Individually Owned
2-yr Hold
~
Est. High Equity
Property ID
US46-0652505
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1975
Total area
41,970 SF
Lot
3.67 ac (159,865 SF)
APN
75-0231700
UPID
US46-0652505
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
$3.83M
Blend (final)
Blend
$4.71M
Owner & transaction history
Lakeview Clinic Building Corporatio · 2 yrs held
Lakeview Clinic Building Corporatio
since 2024
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$6.0M
+50.4%
Commercial (general)
$5.0M
+26.4%
Restaurant
$4.8M
+20.1%
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 Waconia submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Waconia 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$3,960,000
Current use
OFFICE BUILDING
$5,955,000
Change: +50% · Conversion: Easy
COMMERCIAL (GENERAL)
$5,005,000
Change: +26% · Conversion: Easy
RESTAURANT
$4,755,000
Change: +20% · Conversion: Difficult
RETAIL STORES
$4,275,000
Change: +8% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,785,000
Change: -4% · Conversion: Difficult
Blend value · Realmo final
$4.71M
Range $4.24M – $5.18M · ±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
$112 / 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
$256,330
Tax year 2024
Assessed value
$8,952,800
Assessed 2024
Previous assessed
$8,704,500
+2.9% YoY
Effective rate
2.86%
On assessed value
Assessed land
$1,598,700
Assessed improvement
$7,354,100
Land market value
$1,598,700
Improvement market value
$7,354,100
Total market value
$8,952,800
Applied tax rate
110.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1975
Heating
NONE
Buildings
2
Total area
41,970 SF
Lot
3.67 ac (159,865 SF)
APN
75-0231700
UPID
US46-0652505
Jurisdiction
CARVER
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
MEDICAL BUILDING Current
Est. value
$4.0M
OFFICE BUILDING
Est. value
$6.0M
COMMERCIAL (GENERAL)
Est. value
$5.0M
RESTAURANT
Est. value
$4.8M
RETAIL STORES
Est. value
$4.3M
AUTO REPAIR, GARAGE
Est. value
$3.8M
MEDICAL BUILDING Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
RESTAURANT
RETAIL STORES
AUTO REPAIR, GARAGE
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
1975
Heating
NONE
Buildings
2
Lot
3.67 ac
Current owner
From public records · entity-resolved
Lakeview Clinic Building Corporatio
Individual
Mailing address
424 W STATE HWY 5TH 5, WACONIA, MN 55387-1723
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 17, 2024
—
Lakeview Clinic Building Corporatio
—
Deed
related
$12,500,000 · Security Bank & Trust
Oct 17, 2023
—
Lakeview Clinic Building Corporatio
—
Deed
related
$6,500,000 · Security Bank & Trust
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.
Try Rey
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