Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3140 Neil Armstrong Eagan, MN

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    1,000-40,000 SF office spaces available for lease.

    Type:OFFICE
    Property size:
    1,076 SF
    Lot size:
    8.64 Acres
    Added:
    Nov 15, 2023
    Days on Market:
    888
    Last Refresh:
    Apr 5 at 8:15 pm

    Property Features for 3140 Neil Armstrong

    General Information

    Standard status
    Active
    Size
    1,076 SF
    Lot size
    8.64 Acres
    Property subtype
    OFFICE

    Spaces For Lease

    at 3140 Neil Armstrong Contact us

    We can help!

    Listing Contact
    Brian A Helmken

    Listing agent Brian A Helmken

    Listing office Avison Young

    Listing date Nov 15, 2023

    Source Moodyscre

    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 Avison Young

    Overview

    Eagan Office Space For Lease

    This is a 120,000 square foot, three-story office building with 40,000 square foot floor plates. Spaces from 1,000 to 40,000 square feet are available for lease at a rate of $10.00 per square foot on a NNN basis. The property features flexible lease terms and on-site management. Building amenities include a conference room and a grab-and-go café lounge. Abundant surface parking is available at a ratio of 5 spaces per 1,000 square feet. A loading dock is also present. The building is located minutes from major retail areas and blocks from 35E, providing easy access to MSP Airport.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

    Real Estate Agency Restaurant Law Firm Dental Office Food Market Pharmacy Spa & Massage Center Gym & Fitness Center Kitchen & Bath Showroom Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Eagan
    County
    Dakota
    State
    Minnesota
    Longitude
    -93.1404
    Latitude
    44.8428

    Nearby Similar for Lease

    • Sponsored
      Contact for pricing

      MN, Eagan - Eagan Wood Dr

      2640 Eagan Woods Dr, Eagan, MN 55121
      View Details
    • Contact for pricing

      Grand Oak I

      860 Blue Gentian Rd, Unit 200, Eagan, MN 55121
      View Details
    • $13/mo

      Eagandale Point Office Space

      Class B office building with excellent location and updated common areas.
      1400 Corporate Center Curve, Eagan, MN
      View Details
    • $20,416/mo

      Eagan Warehouse and Office Space

      20,416 SF warehouse and office space available for lease.
      980 Lone Oak Road, Eagan, MN
      View Details
    • $16/mo

      Eagan Office Space with Amenities

      Office space available with fitness centers, walking trails, and more.
      2805 Dodd Rd, Eagan, MN
      View Details
    • $15/mo

      Eagan Office Space with Amenities

      Office space for rent with fitness centers and on-site amenities.
      2854 Hwy 55, Eagan, MN
      View Details
    • Contact for pricing

      Class A Suburban Office Space

      Premier office property in thriving Southeast submarket near I-494.
      1305 Corporate Center Dr, Eagan, MN 55121
      View Details
    • Contact for pricing

      Eagan Office-Showroom Space For Rent

      45,472 SF office-showroom in Eagan, MN business park.
      2975 Lone Oak Dr, Eagan, MN 55121
      View Details
    • Contact for pricing

      Eagan Office-Showroom Building For Rent

      41,344 SF office-showroom building in Eagan, Minnesota.
      2965 Lone Oak Dr, Eagan, MN 55121
      View Details
    • Contact for pricing

      Eagan Office-Showroom Space Available

      66,145 SF office-showroom in Eagan, MN for rent.
      2910 Waters Rd, Eagan, MN 55121
      View Details
    • $18/mo

      Retail Space in Mixed-Use Center

      Retail space available in a conveniently located mixed-use center.
      3908-3928 Cedar Grove Pkwy, Eagan, MN
      View Details
    • $20/mo

      Eagan Office Space For Rent

      Office space for rent with convenient highway access.
      1519 Central Pkwy, Eagan, MN
      View Details

    FAQs

    What type of property is this?
    Office building - 1,000-40,000 SF office spaces available for lease.
    Where is this office building located?
    The property is located at 3140 Neil Armstrong Eagan, MN.
    What is the lease rate?
    The lease rate is $10 SF/Yr.
    What are key features of this property?
    This property features: Flexible lease terms and available spaces ranging from 1,000 sf to 40,000 sf.; Abundant surface parking with a ratio of 5/1,000 sf.; Convenient location blocks from 35E with easy access to MSP Airport.
    (612) 701-8787 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Brian A Helmken
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!