Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    7551 Lancaster NE Ave Otsego, MN 55301-4595
    Back to Search
    Property profile & analytics

    7551 Lancaster NE Ave, Otsego, MN 55301-4595

    View on Map
    • Life science properties
    • 2,155 SF
    • 15.00 lot acres
    Off-Market
    Property ID
    US46-1423432
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Life science properties

    Property Details for 7551 Lancaster NE Ave

    Year built
    2005
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    15.00 lot acres
    Property type
    Life science properties
    APN
    118-269-001010
    APU
    118269001010

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Otsego
    County
    Wright
    State
    Minnesota
    Longitude
    -93.6578
    Latitude
    45.2605
    CBSA code
    33460
    CBSA name
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $0.00
    $1,055,400
    $1,440,000
    $2,495,400
    -
    $1,055,400
    $1,440,000
    $2,495,400

    Comparable in this City

    • Value Estimation by Request
      4,478 SF

      Albertville, MN 55301

      WAREHOUSE, STORAGE
      Albertville, MN 55301
      View Details
    • Value Estimation by Request
      77.95 Acres

      Kalland Ave

      Land
      0 Kalland Ave, Albertville, MN 55301
      View Details
    • Value Estimation
      $13,415,000
      178,398 SF

      6757 Karmen NE Ave

      HEAVY INDUSTRIAL
      6757 Karmen NE Ave, Albertville, MN 55301-4771
      View Details
    • Value Estimation
      $1,065,000
      23,586 SF

      6699 Labeaux NE Ave

      INDUSTRIAL (GENERAL)
      6699 Labeaux NE Ave, Albertville, MN 55301-3960
      View Details
    • Value Estimation
      $4,150,000
      31,084 SF

      11915 53rd NE St

      LIGHT INDUSTRIAL
      11915 53rd NE St, Albertville, MN 55301-3964
      View Details
    • Value Estimation
      $790,000
      17,426 SF

      5218 Barthel Industrial NE Dr

      LIGHT INDUSTRIAL
      5218 Barthel Industrial NE Dr, Albertville, MN 55301-9766
      View Details

    Similar Nearby for Sale

    • New
      Contact for pricing
      3,480 SF

      New Construction Garage Flex Suites

      New flex/warehouse suites with 12’x14’ overhead doors, natural gas heat, and optional mezzanine.
      9781 NE 71St St, Otsego, MN 55301
      View Details
    • $333,900
      1,200 SF

      Garage Condos For Sale

      Customizable garage condos ideal for business or storage.
      7041 Kagan Ave, Otsego, MN 55301
      View Details
    • Contact for pricing

      Land Near Albertville Premium Outlets

      Land with utilities available near Albertville Premium Outlets.
      70th Ne & Kalland Ave NE, Otsego, MN 55301
      View Details
    • Contact for pricing

      Land Near Upcoming Costco

      Commercial land available near future Costco development.
      59Th St NE, Albertville, MN 55301
      View Details
    • New
      $320,000
      1.32 Acres

      Commercial Lots in Albertville Corridor

      Undeveloped commercial lots with high visibility and established traffic.
      5949 Labeaux Ave NE, Albertville, MN 55301
      View Details
    • Contact for pricing

      Commercial Land Near Retailers

      2.58 acres of commercial land near restaurants and retailers.
      67th St & Labeaux Ave NE, Albertville, MN 55301
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      60,347 SF

      Otsego Warehouse Space Available

      60,347 SF warehouse near Albertville outlet mall.
      6551 Jansen Ave NE, Otsego, MN 55301
      View Details
    • Contact for pricing

      26-Acre Mixed Use Development Land

      26.01 acres of mixed-use development land for sale.
      5446 Labeaux Ave NE, Albertville, MN 55301
      View Details
    • Contact for pricing

      Commercial Land for Lease

      Premier pad sites with excellent visibility and access to I-94.
      6500 Labeaux Ave NE, Albertville, MN 55301
      View Details
    • Contact for pricing
      13,147 SF

      Medical Office Space for Sublease

      Sublease medical office space in Albertville through December 31, 2028.
      11091 Jason Ave NE, Albertville, MN 55301
      View Details
    • Contact for pricing
      1,000,000 SF

      Albertville Land Parcel For Lease

      Large land parcel available for lease in Albertville, Minnesota.
      5450 Marlowe Ave Northeast, Albertville, MN 55301
      View Details
    • Contact for pricing
      1,047 SF

      Retail Space in Albertville Crossing

      Retail space for lease in Albertville Crossing, Minneapolis.
      5698 La Centre Ave NE, Albertville, MN 55301
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    7551 Lancaster NE Ave
    Otsego, MN 55301-4595
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    7551 Lancaster NE Ave, Otsego, MN, 55301
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!