Multi-Tenant Office/Flex
For Sale
Contact for pricing
10740 Lyndale Ave S, Bloomington, MN 55420
Multi-tenant office/flex property with 27 units, five drive-ins, four exterior docks, and 18' clear height.
Property Size43,080 SF
Price / SF$111.42
Days on Market160
Property Features for 10740 Lyndale Ave S
General Information
Standard status
Active
Size
43,080 SF
Property subtype
INDUSTRIAL
Warehouse & Industrial
Clear Height
18 ft
Dock-High Doors
4
Drive-In Doors
5
Additional Details
Highway Access
Yes
Office Units
27
Amenities
Building signage
Air conditioning
Wheelchair accessible
Building Details
Tenancy
Multi
Listing Agency:
Commercial Equities Group, Inc
(612) 788-1552
Listed By:
Jeff Salzbrun · License #40699119
(612) 428-3333
Source:
Moodyscre
Added: Apr 6
Changed: Sep 9
Last Checked: Sep 12 at 10:47AM
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 Commercial Equities Group, Inc
Investment Insights
Based on property information with market context.
10740 Lyndale Avenue South is a multi-tenant office/flex building offering 27 units. The property includes five drive-in doors sized at 8' x 10' and four exterior dock positions. Interior clear height is listed at 18'. Building signage is available, and the building has air conditioning and wheelchair accessibility.
The building is located directly off I-35W at the 106th Street exit in Bloomington.
With a mix of unit-level access via drive-ins and dock service, the configuration supports a range of light office and flex uses within a consolidated, multi-tenant layout.
The building is located directly off I-35W at the 106th Street exit in Bloomington.
With a mix of unit-level access via drive-ins and dock service, the configuration supports a range of light office and flex uses within a consolidated, multi-tenant layout.
Key Highlights
- 43,080 SF multi‑tenant office/flex building located off I‑35W at the 106th Street exit in Bloomington
- 27 units within a multi‑tenant office/flex configuration
- Warehouse features include 18' clear height
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
$354,841
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
7.39%
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%
$7,096,820
$7.1M
Cap Rate 7%
$5,069,157
$5.1M
Cap Rate 9%
$3,942,678
$3.9M
Market Conditions
NOI Build-Up for 43,080 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
$620.4K $14.40/SF
− Vacancy
−$74.4K −$1.73/SF
EGI
$545.9K $12.67/SF
− OpEx
−$191.1K −$4.44/SF
NOI
$354.8K $8.24/SF
Area
Hennepin County, MN
Vacancy
12.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
35.00%
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%
$7,096,820
Cap Rate 7%
$5,069,157
Cap Rate 9%
$3,942,678
Alternative Uses
Best Use
Industrial
$6.69M
$5.85M – $7.80M
NOI $468,009 @ 7.0% cap · market cap 9.75%
Second Best
Flex RnD
$5.07M
$4.44M – $5.91M
NOI $354,841 @ 7.0% cap · market cap 7.39%
Theoretical Best
Office A
$10.28M
$8.99M – $11.99M
NOI $719,459 @ 7.0% cap · market cap 14.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
18 ft
Clear height
4
Dock-high doors
5
Drive-in doors
27
Office units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
245
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 55420, MN
23,128
Population
9,638
Households
2.4
Avg Household Size
39
Median Age
31%
College-Educated
86%
High-School Grad
6.7 sq mi
ZIP Area
3,452
Density / Sq Mi
$77,539
Median Household Income
$42,441
Median Earnings
$1,277
Median Rent
$306,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Flex space - Multi-tenant office/flex property with 27 units, five drive-ins, four exterior docks, and 18' clear height.
Where is this flex space located?
The property is located at 10740 Lyndale Ave S Bloomington, MN.
What is the asking price?
The asking price for this property is $4,800,000.
What are key features of this property?
This property features: 43,080 SF multi‑tenant office/flex building located off I‑35W at the 106th Street exit in Bloomington; 27 units within a multi‑tenant office/flex configuration; Warehouse features include 18' clear height
