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    Property profile & analytics

    60 Lk E Dr Chanhassen, MN 55317-9319

    • Auto shops
    • 15,786 SF
    • 1.73 lot acres
    OFF-MARKET
    Value Estimations
    $1,290,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US46-0982079
    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

    • ABRA Auto Body Chanhassen / Auto Repair Shop

    Property Details for 60 Lk E Dr

    Year built
    1991
    Lot size
    1.73 lot acres
    Property size
    15,786 SF
    Property type
    Auto shops
    APN
    25-1770010
    APU
    251770010

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $1,425,000
      Current use
      COMMERCIAL (GENERAL)
      $1,800,000
      Change: +26% Conversion: Moderate
      RESTAURANT
      $1,790,000
      Change: +26% Conversion: Difficult
      MEDICAL BUILDING
      $1,490,000
      Change: +5% Conversion: Difficult
      RETAIL STORES
      $1,440,000
      Change: +1% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Chanhassen
    County
    Carver
    State
    Minnesota
    Longitude
    -93.5225
    Latitude
    44.8612
    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
    2024
    $50,606
    $1,136,700
    $929,700
    $2,066,400
    -
    $1,136,700
    $929,700
    $2,066,400

    Comparable in this City

    • Value Estimation by Request
      1,237 SF

      335 79th St

      AUTO REPAIR, GARAGE • 1,237 SF
      335 79th St, Chanhassen, MN 55317-8362
      View Details
    • Value Estimation
      $1,040,000
      19,176 SF

      225 79th St

      AUTO REPAIR, GARAGE • 19,176 SF
      225 79th St, Chanhassen, MN 55317-8315
      View Details
    • Value Estimation
      $2,900,000
      20,136 SF

      1591 Park Rd

      AUTO REPAIR, GARAGE • 20,136 SF
      1591 Park Rd, Chanhassen, MN 55317-9594
      View Details
    • Value Estimation
      $610,000
      6,510 SF

      40 Lk E Dr

      AUTO REPAIR, GARAGE • 6,510 SF
      40 Lk E Dr, Chanhassen, MN 55317-9319
      View Details
    • Value Estimation
      $2,820,000
      8,281 SF

      580 79th St

      AUTO REPAIR, GARAGE • 8,281 SF
      580 79th St, Chanhassen, MN 55317-9530
      View Details
    • Value Estimation
      $900,000
      18,000 SF

      1340 Park Rd

      AUTO REPAIR, GARAGE • 18,000 SF
      1340 Park Rd, Chanhassen, MN 55317-9527
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      15,000 SF

      Retail Center and Land Available

      Land and retail space for sale or lease in Chanhassen.
      8971 Crossroads Blvd, Chanhassen, MN 55317
      View Details
    • New
      $850,000
      0.52 Acres

      Chanhassen Land with Lake Views

      Two lots offering lake views and redevelopment potential in Chanhassen.
      6711 Mohawk Dr, Chanhassen, MN 55317
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      Land at Highway Interchange

      Commercial land at the intersection of two highways.
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    • New
      $499,900
      1.50 Acres

      Residential Land in Chanhassen, MN

      1.5-acre residential lot with privacy in Chanhassen, Minnesota.
      7602 Erie Ave, Chanhassen, MN 55317
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      Land For Sale Chanhassen

      Land available for sale in Chanhassen, Minnesota.
      8145 Upland Cir, Chanhassen, MN 55317
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    • New
      $450,000
      0.44 Acres

      Half-Acre Wooded Lot Opportunity

      Half-acre wooded lot near Lotus Lake in Fox Ridge.
      601 Fox Hill Dr, Chanhassen, MN 55317
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    Similar Nearby for Lease

    • Contact for pricing

      Retail Space in West Village

      Retail space for lease in Chanhassen, Minnesota.
      800 W 78Th St, Chanhassen, MN 55317
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    • Contact for pricing
      1,565 SF

      Retail Space in Chanhassen, MN

      Retail space available in a new mixed-use development.
      591 W 78Th St, Chanhassen, MN 55317
      View Details
    • Contact for pricing

      Retail Space in Chanhassen

      Retail property in Chanhassen, Minnesota, currently 100% leased.
      420-440 Pond Promenade, Chanhassen, MN 55317
      View Details
    • Contact for pricing
      1,428 SF

      Retail and Office Spaces Available

      Retail and office spaces for lease in Chanhassen, Minnesota.
      580-600 Market St, Chanhassen, MN 55317
      View Details
    • $13 SF/Yr
      11,370 SF

      Chanhassen Warehouse Space Available

      Industrial space with easy highway access and area amenities.
      18701-18741 Lake Dr E, Chanhassen, MN 55317
      View Details
    • Contact for pricing
      31,200 SF

      Functional Warehouse Space Available

      31,200 SF warehouse space for sublease in Chanhassen.
      8085-8175 Century Blvd, Chanhassen, MN 55317
      View Details
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    Chanhassen, MN 55317-9319
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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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