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Property profile & analytics
OFF-MARKET
Estimated value
$3,335,000
Distribution centers
6950 146th W St, Apple Valley, MN 55124-4513
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US46-0606442
Property summary
AI-generated overview
This Apple Valley, Minnesota property, located at 6950 146th St W, offers three available suites totaling 15,459 square feet within a larger 35,064 square foot building. The building, constructed in 1987, is classified as Class C and features a single story with a 12-foot ceiling height. Suite 100, a 6,508 square foot endcap space, previously served as a therapy clinic and is ideal for office/warehouse use. Suite 118, a 4,565 square foot flex space, was formerly a gym and offers air conditioning throughout, easily adaptable to office/warehouse needs. Finally, Suite 128 is a 4,386 square foot endcap warehouse space with air conditioning throughout. The property boasts 60 total parking spaces and 18 drive-in doors, situated on 146th St W and conveniently near Galaxie Ave. The zoning is PD-409, and the APN is 01-11720-01-020. This multi-tenant building offers a variety of options for businesses seeking manufacturing, flex, traditional office, or warehouse space in a prime Apple Valley location. The property's zip code is 55124.
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1987
Construction
CONCRETE
Total area
35,840 SF
Lot
2.76 ac (120,226 SF)
Zoning code
R
APN
01-11720-01-020
UPID
US46-0606442
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
$3.07M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.52M
Blend (final)
Blend
$3.34M
Owner & transaction history
6950 146th LLC · 3 yrs held
6950 146th LLC
since 2022
Last sale
$3.6M
4 recorded transactions
Zoning & alternative use
R · Apple Valley, MN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Apple Valley submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Apple Valley 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
$3,185,000
ML approach
$3,070,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$5,460,000
Current use
RETAIL STORES
$5,110,000
Change: -6% · Conversion: Moderate
Blend value · Realmo final
$3.34M
Range $3.00M – $3.67M · ±10% · vs last sale $3.60M (Nov 22 2022)
Last sale anchor
$3.60M
Nov 22 2022
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
$93 / 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
$65,352
Tax year 2023
Assessed value
$2,293,100
Assessed 2022
Previous assessed
$2,293,100
+0.0% YoY
Effective rate
2.85%
On assessed value
Assessed land
$793,800
Assessed improvement
$1,499,300
Land market value
$793,800
Improvement market value
$1,499,300
Total market value
$2,293,100
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1987
Construction
CONCRETE
Heating
NONE
Bathrooms
16
Total area
35,840 SF
Lot
2.76 ac (120,226 SF)
Zoning code
R
APN
01-11720-01-020
UPID
US46-0606442
Jurisdiction
DAKOTA
Zoning & alternative use
R · Apple Valley, MN
Zoning R · permitted uses
R · Apple Valley, MN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Apple Valley. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$5.5M
RETAIL STORES
Est. value
$5.1M
WAREHOUSE, STORAGE Current
RETAIL STORES
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
1987
Construction
CONCRETE
Heating
NONE
Bathrooms
16
Lot
2.76 ac
Current owner
From public records · entity-resolved
6950 146th LLC
Entity
Mailing address
2923 ASPEN LK DR NE, BLAINE, MN 55449-7508
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 22, 2022
$3,600,000
6950 146th LLC
Pbk Apple Valley Business Center LP
Warranty Deed
$2,880,000 · Center National Bank
Aug 30, 2016
—
Pbk Apple Valley Busn Center L
—
Deed
related
$1,500,000 · Miscellaneous Ins Co
—
—
Pbk Apple Valley Busn Center L
—
Loan Modification
related
$1,500,000 · Miscellaneous Ins Co
—
—
Pbk Apple Valley Busn Center L
—
Deed Of Trust
related
$1,500,000 · Miscellaneous Ins Co
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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