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Property profile & analytics
OFF-MARKET
Estimated value
$2,185,000
Outlet malls
510 Lk Dr Chanhassen, MN 55317-9378
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US46-2861610
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
2015
Total area
19,856 SF
Lot
1.78 ac (77,537 SF)
APN
25-7830010
UPID
US46-2861610
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
Current use
Occupant on record · Public records
-
Total Wine & More (Bike/Boat/Book/etc) Store Wine and Liquor Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.31M
Blend (final)
Blend
$2.19M
Owner & transaction history
Division 25 LLC · 3 yrs held
Division 25 LLC
since 2022
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$2.8M
+53.0%
Commercial (general)
$2.3M
+25.0%
Restaurant
$2.3M
+24.3%
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 Chanhassen submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Chanhassen 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
RETAIL STORES
$1,810,000
Current use
OFFICE BUILDING
$2,770,000
Change: +53% · Conversion: Easy
COMMERCIAL (GENERAL)
$2,265,000
Change: +25% · Conversion: Easy
RESTAURANT
$2,250,000
Change: +24% · Conversion: Easy
MEDICAL BUILDING
$1,875,000
Change: +4% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,790,000
Change: -1% · Conversion: Difficult
Blend value · Realmo final
$2.19M
Range $1.97M – $2.40M · ±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
$110 / 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
$83,234
Tax year 2024
Assessed value
$3,327,500
Assessed 2024
Previous assessed
$3,090,500
+7.7% YoY
Effective rate
2.50%
On assessed value
Assessed land
$1,240,600
Assessed improvement
$2,086,900
Land market value
$1,240,600
Improvement market value
$2,086,900
Total market value
$3,327,500
Applied tax rate
112.0000
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
2015
Heating
NONE
Total area
19,856 SF
Lot
1.78 ac (77,537 SF)
APN
25-7830010
UPID
US46-2861610
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
RETAIL STORES Current
Est. value
$1.8M
OFFICE BUILDING
Est. value
$2.8M
COMMERCIAL (GENERAL)
Est. value
$2.3M
RESTAURANT
Est. value
$2.3M
MEDICAL BUILDING
Est. value
$1.9M
AUTO REPAIR, GARAGE
Est. value
$1.8M
RETAIL STORES Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
RESTAURANT
MEDICAL BUILDING
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
2015
Heating
NONE
Lot
1.78 ac
Current owner
From public records · entity-resolved
Division 25 LLC
Entity
Mailing address
705 MARQUETTE AVE STE #900, MINNEAPOLIS, MN 55402-2361
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 15, 2022
—
Division 25 LLC
—
Deed
related
$4,375,000 · Tradition Capital Bank
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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