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Property profile & analytics
FOR SALE
Office buildings
8565 Eagle Point Cir Lake Elmo, MN 55042
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US46-3115505
For Sale
1 / 6
$3,130,686
8565 Eagle Point Cir, Lake Elmo, MN 55042
View Listing →
Property summary
AI-generated overview
This exceptional 20,462-square-foot free-standing office building is situated on approximately 4.108 acres in Lake Elmo, Minnesota, and offers a compelling investment opportunity. Built in 2007, the single-story structure boasts a highly visible location with excellent signage opportunities off Interstate 94, ensuring strong brand recognition. The property features 18 rooftop HVAC units (RTUs) and ample parking with an approximate 7/1000 parking ratio, providing approximately 150 stalls. Convenient access to I-94 is available via multiple exits, and the building's proximity to hotels and restaurants adds to its appeal. The asking price is $3,130,686, translating to $153 per square foot. Property taxes for 2024 are $89,732, or $4.39 per square foot. The property's Parcel ID is 33-029-21-43-0008. Previously occupied by Rasmussen University, this move-in ready space presents a fantastic opportunity for a variety of businesses. Building and monument signage are available.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2006
Total area
20,266 SF
Lot
4.11 ac (178,944 SF)
APN
33-029-21-43-0008
UPID
US46-3115505
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
$2.69M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.68M
Owner & transaction history
Mep Woodbury LLC · 1 yrs held
Mep Woodbury LLC
since 2025
Last sale
$2.8M
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$3.6M
+17.3%
Commercial (general)
$3.6M
+16.3%
Retail stores
$3.5M
+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
$2,410,000
ML approach
$2,690,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,070,000
Current use
WAREHOUSE, STORAGE
$3,600,000
Change: +17% · Conversion: Difficult
COMMERCIAL (GENERAL)
$3,570,000
Change: +16% · Conversion: Easy
RETAIL STORES
$3,535,000
Change: +15% · Conversion: Moderate
Blend value · Realmo final
$2.68M
Range $2.41M – $2.94M · ±10% · vs last sale $2.80M (May 9 2025)
Last sale anchor
$2.80M
May 9 2025
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
$132 / 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
$99,954
Tax year 2023
Assessed value
$3,562,100
Assessed 2022
Previous assessed
$3,562,100
+0.0% YoY
Effective rate
2.81%
On assessed value
Assessed land
$1,431,400
Assessed improvement
$2,130,700
Land market value
$1,431,400
Improvement market value
$2,130,700
Total market value
$3,562,100
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
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
For Sale
Year built
2006
Heating
NONE
Buildings
1
Total area
20,266 SF
Lot
4.11 ac (178,944 SF)
APN
33-029-21-43-0008
UPID
US46-3115505
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
$3.1M
WAREHOUSE, STORAGE
Est. value
$3.6M
COMMERCIAL (GENERAL)
Est. value
$3.6M
RETAIL STORES
Est. value
$3.5M
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
4.11 ac
Current owner
From public records · entity-resolved
Mep Woodbury LLC
Entity
Mailing address
6901 JERSEY RDG RD, DAVENPORT, IA 52807-3220
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
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
May 9, 2025
$2,800,000
Mep Woodbury LLC
Davis Estates Ltd
Deed
$2,660,000 · Bankcherokee
Jan 9, 2008
$5,520,000
Davis Ests Ltd
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.
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