Finished Office Suite with Conference
For Sale
$699,900
1103 Weir Drive #200, Woodbury, MN 55125
Move-in ready office space with open layout, kitchen area, and conference room; includes private bathroom access.
Property Size3,000 SF
Price / SF$233.30
Days on Market119
Property Features for 1103 Weir Drive #200
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Commercial
Zoning
Business/Commercial
Additional Details
Business Included
Yes
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$14,454
Building Details
Year Built
2006
Stories
1
Units
3
Listing Agency:
RE/MAX Professionals
(651) 233-8162
Listed By:
Justin Duchemin
(651) 233-8162
Source:
Juverealestate
Added: Apr 23
Changed: Aug 16
Last Checked: Aug 19 at 2:36PM
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 suite offers an open layout designed to be used as-is or customized for a new tenant’s workflow. The space includes a kitchen area with a bar stool counter, a conference room, and a private bathroom accessible through a dedicated route from within the suite. Additional features include two private stalls, supporting day-to-day convenience for staff and visitors.
The suite is positioned for visibility along Highway 494/I-494 and is described as having high visibility with convenient highway access for employees and clients. The property is located at 1103 Weir Drive #200 in Woodbury, MN.
For professional users, the current configuration supports team collaboration in the open area while keeping a separate conference room available for meetings and client discussions. The suite may also appeal to flexible operators who want an adaptable layout. A long-term lease is in place for the front office space with a separate entrance, which may be relevant for buyers or investors considering existing in-place occupancy alongside the remaining space.
The suite is positioned for visibility along Highway 494/I-494 and is described as having high visibility with convenient highway access for employees and clients. The property is located at 1103 Weir Drive #200 in Woodbury, MN.
For professional users, the current configuration supports team collaboration in the open area while keeping a separate conference room available for meetings and client discussions. The suite may also appeal to flexible operators who want an adaptable layout. A long-term lease is in place for the front office space with a separate entrance, which may be relevant for buyers or investors considering existing in-place occupancy alongside the remaining space.
Key Highlights
- 3,000 sq ft office space built in 2006 in Woodbury, MN
- Open‑layout office space with a conference room
- 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
Turnkey business
Opportunity
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 building - Move-in ready office space with open layout, kitchen area, and conference room; includes private bathroom access.
Where is this office building located?
The property is located at 1103 Weir Drive #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 sq ft office space built in 2006 in Woodbury, MN; Open‑layout office space with a conference room; Kitchen area with bar stool counter
