Finished Office Space with Conference
For Sale
$699,900
1103 Weir Dr Unit 200, Woodbury, MN 55125
Finished office space with open layout, conference room, and private bathroom access, with highway visibility along I-494.
Property Size3,000 SF
Price / SF$233.30
Days on Market40
Property Features for 1103 Weir Dr Unit 200
General Information
Standard status
Active
Size
3,000 SF
Additional Details
Highway Access
Yes
Amenities
Kitchen Area with bar stool counter
Conference Room
Two private stalls
High-visibility location
Flexible floor plan
Private access to bathroom
Building Details
Year Built
2006
Listing Agency:
RE/MAX Professionals
Listed By:
Justin DuChemin
Source:
Searchhousesnow
Added: Jul 27
Changed: Sep 3
Last Checked: Sep 2 at 12:38AM
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 RE/MAX Professionals
Investment Insights
Based on property information with market context.
This finished office space offers approximately 3,000 square feet with an open layout and a separate private bathroom access. Interior features include a kitchen area with a bar-stool counter, a conference room, and two private stalls, with the option to use the space as-is or customize the finishes.
The property is located at 1103 Weir Dr in Woodbury, Minnesota, and is positioned for high visibility along Highway 494 with convenient highway access for clients and employees.
According to the listing, the front office area is supported by an income-producing long-term lease in place and includes a separate entrance.
The property is located at 1103 Weir Dr in Woodbury, Minnesota, and is positioned for high visibility along Highway 494 with convenient highway access for clients and employees.
According to the listing, the front office area is supported by an income-producing long-term lease in place and includes a separate entrance.
Key Highlights
- 3,000 finished SF office space in Woodbury with high‑visibility placement along Highway 494 (I‑494).
- Flexible floor plan with an open layout and option to use as‑is or customize finishes.
- Includes conference room plus a kitchen area with bar stool counter.
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
$41,615
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
5.95%
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%
$832,300
$832.3K
Cap Rate 7%
$594,500
$594.5K
Cap Rate 9%
$462,389
$462.4K
Market Conditions
NOI Build-Up for 3,000 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
$74.9K $24.96/SF
− Vacancy
−$19.4K −$6.46/SF
EGI
$55.5K $18.50/SF
− OpEx
−$13.9K −$4.62/SF
NOI
$41.6K $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%
$832,300
Cap Rate 7%
$594,500
Cap Rate 9%
$462,389
Alternative Uses
Best Use
Office B
$594.5K
$520.2K – $693.6K
NOI $41,615 @ 7.0% cap · market cap 5.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$833.3K
$729.2K – $972.2K
NOI $58,332 @ 7.0% cap · market cap 8.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
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
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 - Finished office space with open layout, conference room, and private bathroom access, with highway visibility along I-494.
Where is this office units located?
The property is located at 1103 Weir Dr Unit 200 Woodbury, MN.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: 3,000 finished SF office space in Woodbury with high‑visibility placement along Highway 494 (I‑494).; Flexible floor plan with an open layout and option to use as‑is or customize finishes.; Includes conference room plus a kitchen area with bar stool counter.
