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Property profile & analytics
OFF-MARKET
Estimated value
$2,600,000
Office buildings
821 3rd St, Farmington, MN 55024-1558
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US46-0011084
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1956
Construction
CONCRETE
Total area
29,828 SF
Lot
0.94 ac (40,946 SF)
Zoning code
R
APN
14-56700-00-220
UPID
US46-0011084
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
-
Wettrock Co. Industrial Manufacturer Production Facility
-
SOL-I.S. Technology Solutions Tech Support Center IT Consulting Firm
-
Spruce Valley Payroll & Services Accounting Firm
-
Farmers Union Insurance Agency - Jerry Theisen Agency Insurance Agency
-
Journey Counseling Services Social Service Agency Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.72M
Blend (final)
Blend
$2.60M
Owner & transaction history
Sackett Properties LLC · 8 yrs held
Sackett Properties LLC
since 2018
7 recorded transactions
Zoning & alternative use
R · Farmington, MN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$4.3M
+17.6%
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 Farmington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Farmington 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
OFFICE BUILDING
$3,615,000
Current use
RETAIL STORES
$4,250,000
Change: +18% · Conversion: Moderate
Blend value · Realmo final
$2.60M
Range $2.34M – $2.86M · ±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
$87 / 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
$15,646
Tax year 2023
Assessed value
$568,500
Assessed 2022
Previous assessed
$568,500
+0.0% YoY
Effective rate
2.75%
On assessed value
Assessed land
$205,300
Assessed improvement
$363,200
Land market value
$205,300
Improvement market value
$363,200
Total market value
$568,500
Applied tax rate
14.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1956
Construction
CONCRETE
Heating
NONE
Bathrooms
6
Total area
29,828 SF
Lot
0.94 ac (40,946 SF)
Zoning code
R
APN
14-56700-00-220
UPID
US46-0011084
Jurisdiction
DAKOTA
Zoning & alternative use
R · Farmington, MN
Zoning R · permitted uses
R · Farmington, MN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Farmington. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$3.6M
RETAIL STORES
Est. value
$4.3M
OFFICE BUILDING 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
1956
Construction
CONCRETE
Heating
NONE
Bathrooms
6
Lot
0.94 ac
Current owner
From public records · entity-resolved
Sackett Properties LLC
Entity
Mailing address
912 WESTLYN CT, FARMINGTON, MN 55024-1631
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 13, 2020
—
Sackett Properties LLC
—
Deed
related
$330,000 · Castle Rock Bank
Nov 19, 2018
—
Sackett Properties LLC
—
Deed
related
$200,000 · Castle Rock Bank
May 4, 2018
$380,000
Sackett Properties LLC
Jds Properties LLC
Warranty Deed
$285,000 · Castle Rock Bank
—
—
Jds Properties LLC
—
Deed Of Trust
related
$15,129 · Anchor Bank Farmington
—
—
Jds Properties LLC
—
Deed Of Trust
related
$300,000 · Castle Rock Bank
—
—
Jds Properties LLC
—
Deed Of Trust
related
$76,746 · Castle Rock Bank
—
—
Jds Properties LLC
—
Deed Of Trust
related
$23,539 · Anchor Bank Farmington
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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