Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • 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

    3138 Snelling Ave Minneapolis, MN 55406

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $3,250,000

    36,526 SF industrial building with excellent access and income.

    Property size:
    36,526 SF
    Lot size:
    0.87 Acres

    Property Features for 3138 Snelling Ave

    General Information

    Size
    36,526 SF
    Lot size
    0.87 Acres

    We can help!

    Listing Contact
    Tom Sullivan
    Tom Sullivan
    Source: Moodyscre

    Listing Agent: Tom Sullivan

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Industrial Building Near Transportation Hub

    This is a 36,526 square foot industrial building with an abundance of permitted uses. The property offers excellent access to highways, transit options, and an international airport. An active cell tower lease is in place, providing rental income.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    MPLS Storage Self-Storage Facility Intergalactic Signs Sign Shop

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Minneapolis
    County
    Anoka
    State
    Minnesota
    Longitude
    -93.2345898
    Latitude
    44.9454695

    Nearby Similar for Sale

    • $600,000
      0.17 Acres

      Minneapolis Multi-Use Commercial Property

      6,009 SF multi-use commercial property in the heart of Minneapolis.
      2318 1St Ave S, Minneapolis, MN 55404
      View Details
    • $1,950,000
      0.40 Acres

      Corner Lot in Longfellow Neighborhood

      Highly visible corner lot in Minneapolis' Longfellow neighborhood.
      4215 E Lake St, Minneapolis, MN 55406
      View Details
    • $4,500,000
      1.44 Acres

      Iconic Waterfront Restaurant Opportunity

      Premier Minneapolis restaurant and bar with Mississippi River frontage.
      1900 Marshall St NE, Minneapolis, MN 55415
      View Details
    • New
      $990,000
      0.23 Acres

      Minneapolis Multifamily Investment Opportunity

      Value-add 8-unit multifamily property in South Minneapolis with strong upside.
      5733 Bossen Ter, Minneapolis, MN 55417
      View Details
    • New
      $499,000

      Versatile Minneapolis Commercial Property

      Adaptable commercial space with live/work potential and downtown views.
      233 Groveland Ave, Minneapolis, MN 55403
      View Details
    • Contact for pricing
      0.30 Acres

      Minneapolis Flex & Office-Warehouse Building

      4,859 SF flex and office-warehouse building in NE Minneapolis.
      422 Roosevelt St NE, Minneapolis, MN 55413
      View Details
    • $825,000
      5,000 SF

      Functional Industrial Property with Office

      5,000 SF industrial property with warehouse and office space.
      5201 Lakeland Ave N, Minneapolis, MN 55429
      View Details
    • $510,000
      2.76 Acres

      Remodeled Office Condo in Edina

      Move-in-ready office condo in Edina's professional corridor.
      7300 France Ave S, Minneapolis, MN 55435
      View Details
    • New
      $1,300,000
      0.41 Acres

      Minneapolis Apartment Building with Solar

      Well-maintained 13-unit apartment building with income-generating solar panels.
      1900 Vincent Ave N, Minneapolis, MN 55411
      View Details
    • $450,000
      Pending

      Minneapolis Commercial Property Near Landmarks

      Commercial property near Minnehaha Falls and Lake Nokomis.
      5357 42Nd Ave S, Minneapolis, MN 55417
      View Details
    • New
      $880,000
      0.16 Acres

      Multifamily Building in South Minneapolis

      Stabilized 11-unit multifamily building with long-term tenants in place.
      1810 Portland Ave, Minneapolis, MN 55404
      View Details
    • Contact for pricing
      0.36 Acres

      Turnkey Commercial Building For Lease

      3,720 SF commercial building suitable for food service.
      1919 Riverside Ave, Minneapolis, MN 55454
      View Details

    FAQs

    What type of property is this?
    Industrial property - 36,526 SF industrial building with excellent access and income.
    Where is this industrial property located?
    The property is located at 3138 Snelling Ave Minneapolis, MN.
    What is the asking price?
    The asking price for this property is $3,250,000.
    What are key features of this property?
    This property features: - Excellent access to highways, transit, and international airport; - Active cell tower lease providing rental income; - 36,526 SF industrial building
    (952) 797-4307
    Request Owner's contact information
    3138 Snelling Ave Minneapolis, MN 55406
    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.
    3138 Snelling Ave
    Minneapolis, MN 55406
    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
    3138 Snelling Ave Minneapolis, MN 55406
    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

    We can help!
    Listing Contact
    Tom Sullivan
    Tom Sullivan
    (952) 797-4307
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.