Medical/Professional Space Near
8290 NE University Ave Fridley, MN
For Sale
Contact for pricing
Medical/professional space near Mercy Hospital, opportunity to occupy entire building.
Property Size25,494 SF
Lot Size1.29 Acres
Price / SF$98.06
Days on Market696
Property Features for 8290 NE University Ave
General Information
Standard status
Active
Size
25,494 SF
Lot size
1.29 Acres
Property subtype
OFFICE
Listing Agency:
Davis Real Estate Services Group, LLC
(612) 454-4172
Listed By:
Anne Madyun
(612) 454-4172
Source:
Moodyscre
Added: Sep 1, 2024
Changed: Jul 6
Last Checked: Jul 21 at 5:03AM
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 Davis Real Estate Services Group, LLC
Investment Insights
Based on property information with market context.
This medical/professional space offers the opportunity to occupy an entire building. The property is located near Mercy Hospital – Unity Campus. The first floor previously served as a surgery center. Ample surface parking is available, along with a 2-story parking ramp. The location provides easy access to and from University Avenue. Exterior and common area updates are planned. There is a premier monument and building signage opportunity on University Avenue. The property size is 25,494 square feet.
Key Highlights
- Opportunity to occupy entire medical/professional building.
- Ample parking with surface lot and 2‑story ramp.
- Premier signage opportunity on University Avenue.
Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $299.8k | $11.76 |
| − Vacancy | −$22.5k | −$0.88 |
| EGI | $277.3k | $10.88 |
| − OpEx | −$110.9k | −$4.35 |
| NOI | $166.4k | $6.53 |
25,494 SF · lease $11.76/SF/yr · vacancy 7.50% · expense 40.00%
Alternative Uses
Best Use
Office B
$5.05M
$4.42M – $5.89M
NOI $353,641 @ 7.0% cap · market cap 14.15%
Second Best
Healthcare Medical
$2.38M
$2.08M – $2.77M
NOI $166,394 @ 7.0% cap · market cap 6.66%
Theoretical Best
Office A
$7.08M
$6.20M – $8.26M
NOI $495,701 @ 7.0% cap · market cap 19.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Similar Off Market Nearby
- All Pets Animal Hospital — 5100 Central Ave NE, Columbia Heights, MN 55421
- Vetco Total Care Animal Hospital — 753 53rd Ave NE, Fridley, MN 55421
- Fish Olivia DVM — 5100 NE Central Ave, Columbia Heights, MN 55421
- Petco Vaccination Clinic — 753 53rd Ave NE, Fridley, MN 55421
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical/professional space near Mercy Hospital, opportunity to occupy entire building.
Where is this medical office space located?
The property is located at 8290 NE University Ave Fridley, MN.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Opportunity to occupy entire medical/professional building.; Ample parking with surface lot and 2‑story ramp.; Premier signage opportunity on University Avenue.
