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Property profile & analytics
FOR LEASE
Warehouses
709 Jefferson Ave SW Watertown, MN 55388
Entity Owned
4-yr Hold
Free & Clear
Property ID
US46-0597274
For Lease
1 / 17
$3,765,000
709 Jefferson Ave SW, Watertown, MN 55388
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1969
Total area
16,800 SF
Lot
17.47 ac (760,993 SF)
APN
85-0080100
UPID
US46-0597274
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
$3.76M
CAP Approach
CAP
$3.41M
Comparable Approach
Comparable
$2.31M
Blend (final)
Blend
$3.77M
Owner & transaction history
Land Title Exchange LLC · 4 yrs held
Land Title Exchange LLC
since 2022
Last sale
$4.0M
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$3.3M
+101.1%
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 Watertown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Watertown 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
$3,755,000
CAP Approach
CAP Return
Estimation
6%
$3,695,000
6.5%
$3,410,000
7%
$3,165,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,310,000
Change: +101% · Conversion: Difficult
Blend value · Realmo final
$3.77M
Range $3.39M – $4.14M · ±10% · vs last sale $3.95M (Jan 6 2022)
Last sale anchor
$3.95M
Jan 6 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
$224 / 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
$21,430
Tax year 2024
Assessed value
$1,973,000
Assessed 2024
Previous assessed
$844,800
+133.5% YoY
Effective rate
1.09%
On assessed value
Assessed land
$499,700
Assessed improvement
$1,473,300
Land market value
$499,700
Improvement market value
$1,473,300
Total market value
$1,973,000
Applied tax rate
111.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
For Lease
Year built
1969
Heating
SPACE
Buildings
3
Stories
1
Total area
16,800 SF
Lot
17.47 ac (760,993 SF)
APN
85-0080100
UPID
US46-0597274
Jurisdiction
CARVER
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
OFFICE BUILDING
Est. value
$3.3M
OFFICE BUILDING
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
1969
Heating
SPACE
Stories
1
Buildings
3
Lot
17.47 ac
Current owner
From public records · entity-resolved
Land Title Exchange LLC
Entity
Free & Clear · 4 yrs held
Mailing address
6327 CAMBRIDGE ST, ST LOUIS PARK, MN 55416-2418
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 6, 2022
—
Land Title Exchange LLC
709 Jefferson LLC
Quit Claim Deed
related
—
Jan 6, 2022
$3,950,000
Jefferson Ave LLC
Gary V Kirt
Contract Sale
$3,850,000 · Gary V Kirt Etux
Oct 31, 2011
—
709 Jefferson LLC
Kirt,gary V & Karen
Quit Claim 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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