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Property profile & analytics
OFF-MARKET
Estimated value
$1,320,000
Industrial properties
7075 21st Ave, Centerville, MN 55038-9760
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US46-0255864
Property summary
AI-generated overview
This exceptional 12,500-square-foot industrial property, located at 7075 21st Avenue in Centerville, Minnesota, presents a unique investment opportunity. The single-story, 1992-built building, renovated in 1999, sits on a 1.43-acre lot and is classified as Class C. Currently owner-occupied, it offers a flexible layout ideal for distribution, flex, or warehouse use, with a wide-open floor plan. The property boasts 13.5-foot ceilings, one loading dock with one dock-high door, and three additional garage doors (12x12, 12x10, and 10x8). Heating is provided by radiant units (two 25,000 BTU, one 150,000 BTU, and two 100,000 BTU units), and central air conditioning is installed. The property features ample parking and benefits from convenient freeway access. Electrical service includes 2-3 phase power. The asking price is $1,425,000, with an occupancy date of December 13, 2024. The property is zoned B-1 Commercial
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1990
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
12,500 SF
Lot
1.43 ac (62,400 SF)
APN
24-31-22-23-0012
UPID
US46-0255864
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
by Request
Comparable Approach
Comparable
$1.65M
Blend (final)
Blend
$1.32M
Owner & transaction history
Fgs Properties LLC · 1 yrs held
Fgs Properties LLC
since 2025
5 recorded transactions
Zoning & alternative use
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 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,220,000
Current use
Blend value · Realmo final
$1.32M
Range $1.19M – $1.45M · ±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
$106 / 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
$32,432
Tax year 2024
Assessed value
$1,174,400
Assessed 2024
Previous assessed
$1,174,400
+0.0% YoY
Effective rate
2.76%
On assessed value
Assessed land
$249,600
Assessed improvement
$924,800
Land market value
$249,600
Improvement market value
$924,800
Total market value
$1,174,400
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
1990
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
EVAPORATIVE
Stories
1
Total area
12,500 SF
Lot
1.43 ac (62,400 SF)
APN
24-31-22-23-0012
UPID
US46-0255864
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
$1.2M
INDUSTRIAL (GENERAL) Current
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
1990
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
1.43 ac
Current owner
From public records · entity-resolved
Fgs Properties LLC
Entity
Mailing address
7075 21ST AVE, CENTERVILLE, MN 55038-9760
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 5, 2025
$1,275,000
Fgs Properties LLC
Justin Johnsen
Warranty Deed
$1,020,000 · Royal Cu
Dec 11, 2024
—
Justin T Johnsen
—
Deed
related
$40,000 · First State Bank & Trust
Nov 14, 2024
$610,000
Justin Johnsen
Robert P Sorg JR
Warranty Deed
$197,867 · First State Bank & Trust
Oct 25, 2024
$542,800
Justin Johnsen
Ernest Tooley
Deed
—
Jul 30, 2018
$610,000
Justin Johnsen
Sorg,robert P JR
Grant Deed
related
—
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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