Single-Level Office
New
For Sale
$765,000
1063 Weir Dr Unit 200, Woodbury, MN 55125
The association covers water, sewer, snow removal, garbage, exterior insurance, and building and lot maintenance.
Property Size3,148 SF
Price / SF$243.01
Days on Market2
Property Features for 1063 Weir Dr Unit 200
General Information
Standard status
Active
Size
3,148 SF
Additional Details
HOA Fee
$600
Highway Access
Yes
Building Details
Year Built
2014
Tenancy
Single
Listing Agency:
Keller Williams Realty Integrity Lakes
Listed By:
Chad E Heer · License #40427410
(612) 963-5147
Source:
Bradadamrealty
Added: Sep 26
Last Checked: Sep 26 at 2:37PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty Integrity Lakes
Investment Insights
Based on property information with market context.
This 3,148-square-foot office condominium is configured on one level and was built in 2014. Unit 200 is available for sale, sublease, or a new direct lease. The existing tenant has two years remaining and is seeking a larger space.
The property is in Woodbury, near I-494 and Valley Creek. Association services include water, sewer, snow removal, garbage, exterior building insurance, and building and lot maintenance.
The property is in Woodbury, near I-494 and Valley Creek. Association services include water, sewer, snow removal, garbage, exterior building insurance, and building and lot maintenance.
Key Highlights
- 3,148‑square‑foot office condominium
- Built in 2014
- Single‑level layout in Unit 200
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
$43,668
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
5.71%
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%
$873,360
$873.4K
Cap Rate 7%
$623,829
$623.8K
Cap Rate 9%
$485,200
$485.2K
Market Conditions
NOI Build-Up for 3,148 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
$78.6K $24.96/SF
− Vacancy
−$20.4K −$6.46/SF
EGI
$58.2K $18.50/SF
− OpEx
−$14.6K −$4.62/SF
NOI
$43.7K $13.87/SF
Area
Washington County, MN
Vacancy
25.90%
Lease Rate
$24.96 /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%
$873,360
Cap Rate 7%
$623,829
Cap Rate 9%
$485,200
Alternative Uses
Best Use
Office B
$623.8K
$545.9K – $727.8K
NOI $43,668 @ 7.0% cap · market cap 5.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$874.4K
$765.1K – $1.02M
NOI $61,209 @ 7.0% cap · market cap 8.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,118
Businesses Nearby
Explore this area
Business Placement
Demographics for 55125, MN
43,846
Population
17,682
Households
2.5
Avg Household Size
39
Median Age
59%
College-Educated
98%
High-School Grad
15.3 sq mi
ZIP Area
2,866
Density / Sq Mi
$118,129
Median Household Income
$59,102
Median Earnings
$1,805
Median Rent
$396,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office units - The association covers water, sewer, snow removal, garbage, exterior insurance, and building and lot maintenance.
Where is this office units located?
The property is located at 1063 Weir Dr Unit 200 Woodbury, MN.
What is the asking price?
The asking price for this property is $765,000.
What are key features of this property?
This property features: 3,148‑square‑foot office condominium; Built in 2014; Single‑level layout in Unit 200
