2722-2742 Park Ave, Minneapolis, MN
Land and building totaling 1.40 acres available for sale.
- Added:
- Jan 3, 2024
- Days on Market:
- 890
- Last Refresh:
- May 20 at 8:56 pm
Property Features for 2722-2742 Park Ave
General Information
- Standard status
- Active
- Size
- 12,671 SF
- Lot size
- 1.40 Acres
- Property subtype
- OFFICE
Listing agent James Yacoub (651) 398-7653
Listing office Northstar Real Estate (651) 398-7653
Listing date Jan 3, 2024
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 Northstar Real Estate
HighLights
- Total lot size of 1.40 acres.
- Includes a building at 2722 Park Ave.
- Includes an empty lot at 2742 Park Ave.
- Property consists of two parcels.
- Potential for development or expansion.
- Located on Park Ave.
Overview
Local Financial Insights For Office B
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 | $264.6k | $20.88 |
| − Vacancy | −$53.4k | −$4.22 |
| EGI | $211.1k | $16.66 |
| − OpEx | −$52.8k | −$4.17 |
| NOI | $158.3k | $12.50 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Minneapolis
- County
- Anoka
- State
- Minnesota
- Longitude
- -93.2658
- Latitude
- 44.9529
