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Property profile & analytics
FOR LEASE
Office buildings
8550 N Hudson Blvd Lake Elmo, MN 55042
Entity Owned
11-yr Hold
Absentee Owner
Free & Clear
Property ID
US46-0996967
For Lease
1 / 2
$16.50 SF/Yr
8550 N Hudson Blvd, Lake Elmo, MN 55042
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2006
Total area
29,533 SF
Lot
3.7 ac (161,172 SF)
APN
33-029-21-42-0012
UPID
US46-0996967
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
$6.73M
Comparable Approach
Comparable
$5.94M
Blend (final)
Blend
$6.63M
Owner & transaction history
Dakota Upreit LP · 11 yrs held
Dakota Upreit LP
since 2015
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$5.3M
+17.3%
Commercial (general)
$5.2M
+16.3%
Retail stores
$5.2M
+15.1%
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 Lake Elmo submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lake Elmo 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%
$7,285,000
6.5%
$6,725,000
7%
$6,245,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$4,475,000
Current use
WAREHOUSE, STORAGE
$5,250,000
Change: +17% · Conversion: Difficult
COMMERCIAL (GENERAL)
$5,200,000
Change: +16% · Conversion: Easy
RETAIL STORES
$5,150,000
Change: +15% · Conversion: Moderate
Blend value · Realmo final
$6.63M
Range $5.96M – $7.29M · ±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
$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 2023Property tax & assessments
Tax year 2023
Tax billed
$192,812
Tax year 2023
Assessed value
$6,550,200
Assessed 2022
Previous assessed
$6,550,200
+0.0% YoY
Effective rate
2.94%
On assessed value
Assessed land
$923,300
Assessed improvement
$5,626,900
Land market value
$923,300
Improvement market value
$5,626,900
Total market value
$6,550,200
Applied tax rate
3,701.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
For Lease
Year built
2006
Heating
NONE
Buildings
1
Total area
29,533 SF
Lot
3.7 ac (161,172 SF)
APN
33-029-21-42-0012
UPID
US46-0996967
Jurisdiction
WASHINGTON
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 Current
Est. value
$4.5M
WAREHOUSE, STORAGE
Est. value
$5.3M
COMMERCIAL (GENERAL)
Est. value
$5.2M
RETAIL STORES
Est. value
$5.2M
OFFICE BUILDING Current
WAREHOUSE, STORAGE
COMMERCIAL (GENERAL)
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
2006
Heating
NONE
Buildings
1
Lot
3.7 ac
Current owner
From public records · entity-resolved
Dakota Upreit LP
Entity
Free & Clear · 11 yrs held
Mailing address
3003 32ND AVE S STE #250, FARGO, ND 58103-6118
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 8, 2025
—
Dakota Upreit Limited Partnership
—
Deed
related
$10,000,000 · First Dakota National Bank
Jan 7, 2025
—
Dakota Upreit Limited Partnership
—
Deed
related
$10,000,000 · First Dakota National Bank
Jun 19, 2015
$5,350,000
Dakota Upreit LP
Eagle Point II LLC
Grant Deed
—
Aug 25, 2009
$4,650,000
Eagle Point II LLC
United Properties Inv LLC
Warranty Deed
—
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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