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Property profile & analytics
FOR LEASE
Industrial properties
7003 West Lake St, St Louis Park, MN 55426
Individually Owned
2-yr Hold
Free & Clear
Property ID
US46-0657127
For Lease
$10,325,000
7003 West Lake St, St Louis Park, MN 55426
View Listing →
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
2007
Total area
474,000 SF
Lot
6.96 ac (303,178 SF)
APN
17-117-21-44-0069
UPID
US46-0657127
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
-
ID Wholesaler Marketing & Advertising IT Consulting Firm
-
Syzygy Tile Building Supply Industrial Manufacturer
-
Quad/Graphics Creative Solutions Marketing & Advertising Advertising Agency
-
ROUZER GROUP Advertising Agency Marketing & Advertising
-
ID Zone Big Box & Wholesale Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$8.94M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$10.31M
Blend (final)
Blend
$10.33M
Owner & transaction history
Lakebreeze Industrail Portfolio Own · 2 yrs held
Lakebreeze Industrail Portfolio Own
since 2023
Last sale
$10.3M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$12.2M
+51.8%
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 St Louis Park submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs St Louis Park 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
$10,350,000
ML approach
$8,935,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$8,065,000
Current use
COMMERCIAL (GENERAL)
$12,245,000
Change: +52% · Conversion: Difficult
Blend value · Realmo final
$10.33M
Range $9.29M – $11.36M · ±10% · vs last sale $10.32M (Jul 10 2023)
Last sale anchor
$10.32M
Jul 10 2023
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
$22 / 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
$287,043
Tax year 2023
Assessed value
$9,223,000
Assessed 2023
Previous assessed
$8,801,000
+4.8% YoY
Effective rate
3.11%
On assessed value
Assessed land
$5,385,000
Assessed improvement
$3,838,000
Land market value
$5,385,000
Improvement market value
$3,838,000
Total market value
$9,223,000
Applied tax rate
283.0000
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
For Lease
Year built
2007
Heating
NONE
Stories
1
Total area
474,000 SF
Lot
6.96 ac (303,178 SF)
APN
17-117-21-44-0069
UPID
US46-0657127
Jurisdiction
HENNEPIN
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
$8.1M
COMMERCIAL (GENERAL)
Est. value
$12.2M
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
2007
Heating
NONE
Stories
1
Lot
6.96 ac
Current owner
From public records · entity-resolved
Lakebreeze Industrail Portfolio Own
Individual
Free & Clear · 2 yrs held
Mailing address
5201 EDEN AVE STE #50, EDINA, MN 55436-2367
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 13, 2023
—
Lakebreeze Industrail Portfolio Own
Ax Rer LP
Re-recorded Document
related
—
Jul 10, 2023
$10,320,172
Lakebreeze Industrial Portfolio Own
Ax Rer LP
Limited Warranty Deed
—
Jul 9, 2012
$11,278,205
Ax Rer LP
Highway 7 Business Center LLC
Grant Deed
$26,600,000 · Bank Of America California NA
Oct 13, 2010
—
Highway 7 Business Center LLC
—
Trustees Deed
related
$450,000 · First National Bank Omaha
Mar 3, 2006
$5,500,000
Cpe Exchange 26084 LLC
Golden,harry B & Rivoli
Warranty Deed
—
—
—
Ax Rer LP
—
Loan Modification
related
$26,261,000 · Bank Of America
—
—
Highway 7 Business Center LLC
—
Deed Of Trust
related
$341,681 · First National Bank Omaha
—
—
Highway 7 Business Center LLC
—
Deed Of Trust
related
$450,000 · First National Bank Omaha
—
—
Ax Rer LP
—
Loan Modification
related
$26,600,000 · Bank Of America
—
—
Ax Rer LP
—
Loan Modification
related
$26,600,000 · Bank Of America
—
—
Highway 7 Business Center LLC
—
Deed Of Trust
related
$8,260,000 · First National Bank Omaha
—
—
Highway 7 Business Center LLC
—
Deed Of Trust
related
$8,260,000 · First National Bank Omaha
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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