Office Units with Separate
New
For Sale
$649,900
1103 Weir Drive, Woodbury, MN 55125
Commercial Sale, Woodbury, MN
Property Size3,000 SF
Lot Size0.35 Acres
Price / SF$216.63
Days on Market2
Property Features for 1103 Weir Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Business/Commercial
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Parking features
Parking Lot
Window features
Display Window(s), Window Treatments
Exterior features
Brick/Stone, Wood
Subdivision
Cic 316
High school district
South Washington County
Directions
494, west on Tamarack Road, south on Weir Drive, building on left.
Standard status
Active
APN
0802821220018
Lot size
0.35 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
13888
Utilities
Heating system
Forced Air
Cooling system
Central Air
Amenities
conference room
kitchen area
private bathroom
Building Details
Year built
2006
Roof type
Shingle
Listing Agency:
RE/MAX Professionals · RE/MAX International
(651) 455-7000
Listed By:
Aundrea M. Paskett · License #20531928
(651) 235-0868
Added: Sep 9
Last Checked: Sep 10 at 9:06AM
MLS# 7141268
Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,000-square-foot office property provides a divided configuration with a front suite that has its own entrance and an existing lease. The balance of the building offers an open work area, conference room, kitchen with bar seating, private bathroom access, and two private stalls. The layout can remain in its current form or be adapted for a different business arrangement.
Built in 2006 on 0.345 acres, the property includes a parking lot and a combination brick, stone, and wood exterior. Interior comfort is supported by forced-air heat and central air conditioning, while the building has a shingle roof. Its position along I-494 provides direct highway access for employees, clients, and visitors.
Built in 2006 on 0.345 acres, the property includes a parking lot and a combination brick, stone, and wood exterior. Interior comfort is supported by forced-air heat and central air conditioning, while the building has a shingle roof. Its position along I-494 provides direct highway access for employees, clients, and visitors.
Key Highlights
- 3,000 finished square feet of office space
- Front suite has a separate entrance and an existing lease
- Open layout with conference room and kitchen area with bar seating
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
6.40%
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 6.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$833.3K
$729.2K – $972.2K
NOI $58,332 @ 7.0% cap · market cap 8.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Two-part office configuration includes leased space, shared amenities, and parking for business operations.
Where is this office units located?
The property is located at 1103 Weir Drive Woodbury, MN.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: 3,000 finished square feet of office space; Front suite has a separate entrance and an existing lease; Open layout with conference room and kitchen area with bar seating
