Multi-Tenant Flex
For Sale
Contact for pricing
10740 Lyndale Ave S, Minneapolis, MN 55420
Multi-suite commercial building with loading access, drive-in doors, docks, signage, air conditioning, and wheelchair accessibility.
Property Size42,090 SF
Price / SF$114.04
Days on Market139
Property Features for 10740 Lyndale Ave S
General Information
Standard status
Active
Size
42,090 SF
Class
A
Property subtype
Industrial, Office
Zoning
C-4, I-2
Occupancy
92%
Investment Type
Owner/User
Net Operating Income
$343,131
Building Details
Year Built
1980
Year Renovated
2014
Units
27
Listing Agency:
Commercial Equities Group Inc
(612) 788-1552
Listed By:
Jeff Salzbrun · License #MN
Source:
Crexi
Added: Apr 16
Changed: Aug 31
Last Checked: Aug 31 at 5:00AM
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.
Built in 1980, this multi-tenant flex property combines office and industrial functionality across 27 units. The building includes 5 drive-in doors measuring 8x10', 4 exterior docks, and 18' clear height, supporting a range of commercial space requirements. Building signage, air conditioning, and wheelchair accessibility are also in place. The property carries C-4 and I-2 zoning.
Access is provided directly from I-35W via the 106th Street exit. The site is approximately 5 minutes from MSP Airport and 8 minutes from Mall of America, offering proximity to major transportation and regional destinations.
Access is provided directly from I-35W via the 106th Street exit. The site is approximately 5 minutes from MSP Airport and 8 minutes from Mall of America, offering proximity to major transportation and regional destinations.
Key Highlights
- 27‑unit multi‑tenant office/flex building
- 5 drive‑ins measuring 8x10'
- 4 exterior docks and 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
$415,023
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
8.65%
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%
$8,300,460
$8.3M
Cap Rate 7%
$5,928,900
$5.9M
Cap Rate 9%
$4,611,367
$4.6M
Market Conditions
NOI Build-Up for 42,090 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
$661.7K $15.72/SF
− Vacancy
−$23.2K −$0.55/SF
EGI
$638.5K $15.17/SF
− OpEx
−$223.5K −$5.31/SF
NOI
$415.0K $9.86/SF
Area
Minneapolis, MN
Vacancy
3.50%
Lease Rate
$15.72 /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%
$8,300,460
Cap Rate 7%
$5,928,900
Cap Rate 9%
$4,611,367
Alternative Uses
Best Use
Office B
$7.51M
$6.57M – $8.77M
NOI $525,985 @ 7.0% cap · market cap 10.96%
Second Best
Industrial
$6.38M
$5.59M – $7.45M
NOI $446,948 @ 7.0% cap · market cap 9.31%
Theoretical Best
Office A
$10.04M
$8.79M – $11.72M
NOI $702,926 @ 7.0% cap · market cap 14.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Multi-suite commercial building with loading access, drive-in doors, docks, signage, air conditioning, and wheelchair accessibility.
Where is this flex space located?
The property is located at 10740 Lyndale Ave S Minneapolis, 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: 27‑unit multi‑tenant office/flex building; 5 drive‑ins measuring 8x10'; 4 exterior docks and 18' clear height
