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Property profile & analytics
OFF-MARKET
Estimated value
$4,350,000
Warehouses
8271 35th Service NE Dr, Blaine, MN 55449-7256
Entity Owned
13-yr Hold
Free & Clear
Property ID
US46-0414509
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1985
Total area
67,222 SF
Lot
2.75 ac (119,964 SF)
Zoning code
D
APN
05-30-23-11-0011
UPID
US46-0414509
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
$2.79M
Blend (final)
Blend
$4.35M
Owner & transaction history
V LP · 13 yrs held
V LP
since 2012
Last sale
$5.7M
2 recorded transactions
Zoning & alternative use
D · Blaine, MN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$6.8M
+26.5%
Industrial (general)
$6.8M
+25.9%
Apartment house (5+ units)
$6.3M
+17.0%
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 Blaine submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Blaine 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
WAREHOUSE, STORAGE
$5,380,000
Current use
OFFICE BUILDING
$6,810,000
Change: +27% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$6,775,000
Change: +26% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$6,300,000
Change: +17% · Conversion: Difficult
Blend value · Realmo final
$4.35M
Range $3.92M – $4.79M · ±10% · vs last sale $5.65M (Jan 8 2026)
Last sale anchor
$5.65M
Jan 8 2026
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
$65 / 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
$78,068
Tax year 2023
Assessed value
$3,824,000
Assessed 2023
Previous assessed
$2,494,700
+53.3% YoY
Effective rate
2.04%
On assessed value
Assessed land
$600,000
Assessed improvement
$3,224,000
Land market value
$600,000
Improvement market value
$3,224,000
Total market value
$3,824,000
Applied tax rate
621.0000
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
Off-Market
Year built
1985
Heating
HOT WATER
Buildings
3
Total area
67,222 SF
Lot
2.75 ac (119,964 SF)
Zoning code
D
APN
05-30-23-11-0011
UPID
US46-0414509
Jurisdiction
RAMSEY
Zoning & alternative use
D · Blaine, MN
Zoning D · permitted uses
D · Blaine, MN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Blaine. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$5.4M
OFFICE BUILDING
Est. value
$6.8M
INDUSTRIAL (GENERAL)
Est. value
$6.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$6.3M
WAREHOUSE, STORAGE Current
OFFICE BUILDING
INDUSTRIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
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
1985
Heating
HOT WATER
Buildings
3
Lot
2.75 ac
Current owner
From public records · entity-resolved
V LP
Entity
Free & Clear · 13 yrs held
Mailing address
8271 W 35TH SERVICE DR NE, BLAINE, MN 55449-7256
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 30, 2012
$500
V LP
Larson,vernet B III & Kathleen M
Quit Claim Deed
related
—
Mar 9, 1998
—
Vernet B Larson
Blaine City
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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