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    106 Broadway Ave Wayzata, MN 55391

    Sponsored
    For Sale
    $1,950,000

    Fully Leased Office Building, Wayzata, MN

    Property size:
    5,190 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    338
    This exceptional 5,190 square foot freestanding office building presents a lucrative investment opportunity in the thriving Wayzata business community. Situated on a 0.15-acre lot at the highly desirable corner of Wayzata Boulevard and Broadway Avenue, this property enjoys unparalleled visibility and accessibility. Just two blocks north of Lake Street and the picturesque shores of Lake Minnetonka, the building benefits from a prime location within a vibrant and growing area. The custom-built, two-story brick structure offers a well-balanced layout featuring a mix of private offices and open workspaces, catering to diverse business needs. The 3,460 square feet of above-ground space is complemented by ample off-street parking and professionally landscaped grounds. The building is currently fully leased through April 30, 2027, providing immediate and substantial rental income. Wayzata's dynamic business environment is marked by recent expansions, including new restaurants, shops, the Landing Hotel, and the Panoway development on Wayzata Bay. Located a convenient 12 miles west of downtown Minneapolis, this property offers an ideal blend of suburban tranquility and urban accessibility. Appointments to view the property are available Monday through Friday, from 10:00 AM to 5:00 PM. This is a rare opportunity to acquire a high-quality, fully leased office building in one of Minnesota's most desirable locations.

    Property Features for 106 Broadway Ave

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    5,190 SF
    Lot Size
    6,534 SF

    Building Details

    Year Built
    2005
    Property Profile Location Intelligence

    Current Use by Public Records

    Office Properties & Spaces

    Suggested Use

    Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Realty agency Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Wayzata
    County
    Hennepin
    State
    Minnesota
    Longitude
    -93.50998
    Latitude
    44.9721

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    FAQs

    What type of property is this?
    Office Property / Space - Fully Leased Office Building, Wayzata, MN
    Where is this office property / space located?
    The property is located at 106 Broadway Ave Wayzata, MN.
    What is the asking price?
    The asking price for this property is $1,950,000.
    (952) 473-3000
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    106 Broadway Ave Wayzata, MN 55391
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    106 Broadway Ave Wayzata, MN 55391
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