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Property profile & analytics
OFF-MARKET
Estimated value
$2,500,000
Office buildings
500 Vlg Ctr Dr, North Oaks, MN 55127-3004
Trust Owned
5-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US46-0582565
Property summary
AI-generated overview
This exceptional office space, located in the desirable North Oaks Village Center, offers 2,158 square feet of versatile space in Suite 200. The property boasts fantastic landscaping and aesthetic appeal, creating a professional and inviting atmosphere. Ample onsite parking is available for tenants and their clients. This location is ideal for a variety of professional uses, including medical offices or service-based businesses. The net rent is $16.50 per square foot, with an estimated operating expense of $11.13 per square foot in 2024. Enjoy convenient access to major highways, including Highway 96, I-35E, I-35W, and I-694, ensuring easy commutes for employees and clients. The North Oaks Village Center offers a wealth of nearby amenities, including Kowalski's Market, Caribou Coffee, Bruegger's Bagels, Panino's, a community center, library, and city hall, providing a convenient and vibrant work environment. Suite 300, an additional 1,809 square feet, is also available. This is a rare opportunity to secure high-quality office space in a thriving community. The property is situated in Ramsey County.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2007
Total area
25,889 SF
Lot
2.85 ac (123,972 SF)
APN
13-30-23-43-0025
UPID
US46-0582565
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
$2.69M
Blend (final)
Blend
$2.50M
Owner & transaction history
Vanneste,david T Trust · 5 yrs held
Vanneste,david T Trust
since 2020
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$3.8M
+45.5%
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 North Oaks submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs North Oaks 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
OFFICE BUILDING
$2,620,000
Current use
MEDICAL BUILDING
$3,815,000
Change: +46% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$2,425,000
Change: -7% · Conversion: Easy
Blend value · Realmo final
$2.50M
Range $2.25M – $2.75M · ±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
$97 / 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
$114,128
Tax year 2023
Assessed value
$3,400,000
Assessed 2023
Previous assessed
$3,920,500
-13.3% YoY
Effective rate
3.36%
On assessed value
Assessed land
$744,000
Assessed improvement
$2,656,000
Land market value
$744,000
Improvement market value
$2,656,000
Total market value
$3,400,000
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
Status
Off-Market
Year built
2007
Heating
STEAM
Buildings
3
Total area
25,889 SF
Lot
2.85 ac (123,972 SF)
APN
13-30-23-43-0025
UPID
US46-0582565
Jurisdiction
RAMSEY
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
OFFICE BUILDING Current
Est. value
$2.6M
MEDICAL BUILDING
Est. value
$3.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.4M
OFFICE BUILDING Current
MEDICAL BUILDING
APARTMENT HOUSE (5+ UNITS)
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
2007
Heating
STEAM
Buildings
3
Lot
2.85 ac
Current owner
From public records · entity-resolved
Vanneste,david T Trust
Trust
Mailing address
3555 WILLOW LK BLVD STE #200, WHITE BEAR LAKE, MN 55110-5131
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
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
Dec 11, 2020
$500
Vanneste,david T Trust
David T Vanneste
Quit Claim Deed
related
$204,000 · Guaranteed Rate Affinity LLC
Apr 11, 2007
$15,000
North Oaks Building Site Props
North Oaks Co LLC
Warranty Deed
related
$2,118,750 · Americo Fin'l Life & Annuity I
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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