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Property profile & analytics
OFF-MARKET
Estimated value
$2,605,000
Industrial properties
6845 20th Ave, Centerville, MN 55038-7760
Trust Owned
11-yr Hold
Absentee Owner
Free & Clear
Property ID
US46-0703070
Property summary
AI-generated overview
This 3,300-square-foot industrial warehouse condo, located at 6845 20th Ave S in Hugo, Minnesota (zip code 55038), is available for purchase at $660,000. Built in 2001 and renovated in 2024, this single-story building offers a 16-foot ceiling height, perfect for various industrial uses. The property features one loading dock and one dock-high door, providing convenient access for loading and unloading. Currently vacant, this space presents an excellent opportunity for businesses seeking a well-maintained and conveniently located warehouse. Situated in the Centerville/Hugo area, this property offers easy access to major transportation routes, including Interstate 35E and Highway 694. The net rentable square footage is 3,300 square feet. This is a multi-tenant building, and additional suites will become available in the fall of 2024, offering varying warehouse-to-office space ratios. For businesses interested in building equity through real estate, the possibility of purchasing a leased suite in the future may be available. This property is located in Anoka County.
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
2001
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
19,800 SF
Lot
2.03 ac (88,427 SF)
APN
23-31-22-44-0008
UPID
US46-0703070
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
$3.31M
Comparable Approach
Comparable
$2.76M
Blend (final)
Blend
$2.61M
Owner & transaction history
Pearson,jean M Trust · 11 yrs held
Pearson,jean M Trust
since 2015
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$3.5M
+80.5%
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 Centerville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Centerville 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%
$3,585,000
6.5%
$3,310,000
7%
$3,075,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,930,000
Current use
COMMERCIAL (GENERAL)
$3,485,000
Change: +80% · Conversion: Difficult
Blend value · Realmo final
$2.61M
Range $2.34M – $2.87M · ±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
$132 / 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
$56,610
Tax year 2024
Assessed value
$1,962,600
Assessed 2024
Previous assessed
$1,962,600
+0.0% YoY
Effective rate
2.88%
On assessed value
Assessed land
$234,200
Assessed improvement
$1,728,400
Land market value
$234,200
Improvement market value
$1,728,400
Total market value
$1,962,600
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
2001
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
EVAPORATIVE
Stories
1
Total area
19,800 SF
Lot
2.03 ac (88,427 SF)
APN
23-31-22-44-0008
UPID
US46-0703070
Jurisdiction
ANOKA
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
INDUSTRIAL (GENERAL) Current
Est. value
$1.9M
COMMERCIAL (GENERAL)
Est. value
$3.5M
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
2001
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
Yes
Stories
1
Lot
2.03 ac
Current owner
From public records · entity-resolved
Pearson,jean M Trust
Trust
Free & Clear · 11 yrs held
Mailing address
1109 CRST VW DR, HUDSON, WI 54016-9484
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 26, 2015
—
Pearson,jean M Trust
Pearson Jean M
Quit Claim Deed
related
—
Nov 21, 2013
$825,000
Richard N Pearson
Anchorbank Fsb
Warranty Deed
—
Feb 7, 2013
$1,045,500
Anchorbank Fsb
Deputy Sheriff Of Anoka County
Trustees Deed
related
—
—
—
First Class Leasing INC
—
Deed Of Trust
related
$50,000 · Anchor Bank Fsb
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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