Three-Unit Office
New
For Sale
$1,185,000
4100 Shoreline Drive, Spring Park, MN 55384
Commercial Sale, Spring Park, MN
Property Size5,398 SF
Lot Size0.12 Acres
Price / SF$219.53
Days on Market2
Property Features for 4100 Shoreline Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Business/Commercial
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 6, Bathroom 4, Bathroom 5, Bathroom 1, Bathroom 3, Bathroom 2
Parking features
Garage
Exterior features
Brick/Stone
Appliances
Dishwasher, Refrigerator
High school district
Westonka
Directions
On Couty Road 15 West (Shoreline Drive) at the intersection of Shoreline and Sunset Drive (The Mist)
Standard status
Active
APN
1811723440232
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
19163
Utilities
Heating system
Forced Air
Cooling system
Central Air
Amenities
lake views
Building Details
Year built
2005
Listing Agency:
RE/MAX Advantage Plus · RE/MAX International
(952) 226-7700
Listed By:
Mark P. Abdel
(952) 226-7700
Added: Sep 1
Last Checked: Sep 2 at 3:06AM
MLS# 7136511
Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This three-unit office property offers a flexible configuration for an owner-user, an investor, or a combined headquarters. The units may be acquired individually or together, allowing for separate occupancy, partial leasing, or a consolidated office plan. The building includes six bathrooms, brick and stone exterior construction, forced-air heating, central air conditioning, and garage parking. A dishwasher and refrigerator are also present.
Located at 4100 Shoreline Drive in Spring Park, the property sits across from Lake Minnetonka with lake views. The setting provides a visible client-facing presence, while on-site parking supports staff and visitors. Built in 2005, the property occupies a 0.1239-acre lot and offers multiple ways to configure office space within one commercial asset.
Located at 4100 Shoreline Drive in Spring Park, the property sits across from Lake Minnetonka with lake views. The setting provides a visible client-facing presence, while on-site parking supports staff and visitors. Built in 2005, the property occupies a 0.1239-acre lot and offers multiple ways to configure office space within one commercial asset.
Key Highlights
- Three individual office units available separately or as a combined property
- Approximately 5,398 square feet available across all three units
- Across from Lake Minnetonka with lake views
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$64,101
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.41%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,282,020
$1.3M
Cap Rate 7%
$915,729
$915.7K
Cap Rate 9%
$712,233
$712.2K
Market Conditions
NOI Build-Up for 5,398 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$118.5K $21.96/SF
− Vacancy
−$33.1K −$6.13/SF
EGI
$85.5K $15.83/SF
− OpEx
−$21.4K −$3.96/SF
NOI
$64.1K $11.87/SF
Area
Hennepin County, MN
Vacancy
27.90%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,282,020
Cap Rate 7%
$915,729
Cap Rate 9%
$712,233
Alternative Uses
Best Use
Office B
$915.7K
$801.3K – $1.07M
NOI $64,101 @ 7.0% cap · market cap 5.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.29M
$1.13M – $1.50M
NOI $90,150 @ 7.0% cap · market cap 7.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Office units
Location Intelligence
Trade Area within ½ mile
283
Businesses Nearby
Explore this area
Business Placement
Demographics for 55384, MN
1,734
Population
1,318
Households
1.3
Avg Household Size
59
Median Age
31%
College-Educated
94%
High-School Grad
0.4 sq mi
ZIP Area
4,335
Density / Sq Mi
$46,860
Median Household Income
$38,558
Median Earnings
$1,223
Median Rent
$598,400
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Flexible office configuration with Lake Minnetonka views, garage parking, and multiple ownership options.
Where is this office units located?
The property is located at 4100 Shoreline Drive Spring Park, MN.
What is the asking price?
The asking price for this property is $1,185,000.
What are key features of this property?
This property features: Three individual office units available separately or as a combined property; Approximately 5,398 square feet available across all three units; Across from Lake Minnetonka with lake views
