Fridley Office Building For
For Sale
Contact for pricing
1299 Mississippi St NE, Fridley, MN
Two-story office building with separate entrances in Fridley, Minnesota.
Property Size2,900 SF
Lot Size0.48 Acres
Price / SF$172.41
Days on Market1552
Property Features for 1299 Mississippi St NE
General Information
Standard status
Active
Size
2,900 SF
Lot size
0.48 Acres
Property subtype
OFFICE
Listing Agency:
Atlas Commercial Real Estate
Listed By:
Jennifer Pelant · License #20468894
(612) 306-7237
Source:
Moodyscre
Added: Jun 15, 2022
Changed: Aug 14
Last Checked: Sep 13 at 11:30AM
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 Atlas Commercial Real Estate
Investment Insights
Based on property information with market context.
This two-story office property in Fridley, Minnesota, offers approximately 2,900 square feet of space. The building features separate entrances to each floor, allowing for single or dual business uses. The property is positioned on a hard corner, providing enhanced access and visibility. This presents a rare opportunity for an owner-user, with potential for a second user or tenant.
Key Highlights
- Great location with hard corner access and visibility
- Rare owner‑user office property
- Approximately 2,900 sf on two floors
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
$40,227
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
8.05%
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%
$804,540
$804.5K
Cap Rate 7%
$574,671
$574.7K
Cap Rate 9%
$446,967
$447.0K
Market Conditions
NOI Build-Up for 2,900 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
$72.4K $24.96/SF
− Vacancy
−$18.7K −$6.46/SF
EGI
$53.6K $18.50/SF
− OpEx
−$13.4K −$4.62/SF
NOI
$40.2K $13.87/SF
Area
Anoka 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%
$804,540
Cap Rate 7%
$574,671
Cap Rate 9%
$446,967
Alternative Uses
Best Use
Office B
$574.7K
$502.8K – $670.5K
NOI $40,227 @ 7.0% cap · market cap 8.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$805.5K
$704.8K – $939.8K
NOI $56,387 @ 7.0% cap · market cap 11.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
326
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Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office building - Two-story office building with separate entrances in Fridley, Minnesota.
Where is this office building located?
The property is located at 1299 Mississippi St NE Fridley, MN.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Great location with hard corner access and visibility; Rare owner‑user office property; Approximately 2,900 sf on two floors
