Add Listing
    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

    228 12Th St S Minneapolis, MN 55403

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Land with income near Convention Center, skyway access, development potential.

    Lot size:
    1.21 Acres

    Property Features for 228 12Th St S

    General Information

    Lot size
    1.21 Acres

    We can help!

    Listing Contact
    Joshua Huempfner
    Source: Moodyscre

    Listing Agent: Joshua Huempfner

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

    Learn more

    Property Insight Report

    Overview

    Prime Minneapolis Location with Income

    Located across 12th Street from the Minneapolis Convention Center, this property offers skyway access and is within walking distance of Loring Park and the Walker Art Center. It provides easy access to I-35W and I-94. The site allows for vertical development up to 50 stories, with zoning premiums potentially enabling even greater height. The existing church building will be delivered vacant. Income from the parking lot helps offset holding costs. The property is situated near multiple hotels and luxury apartments.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Church Lot - Lot ... Parking Lot & Garage

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Minneapolis
    County
    Anoka
    State
    Minnesota
    Longitude
    -93.2726271
    Latitude
    44.9708672

    Nearby Similar for Sale

    • $799,900
      0.25 Acres

      Turnkey Automotive Business & Real Estate

      Established automotive business with real estate in prime Minneapolis location.
      4201 E Lake St, Minneapolis, MN 55406
      View Details
    • Contact for pricing
      1,600 SF

      Affordable Office/Retail Space in Minneapolis

      1,600 SF lower level office/retail in vibrant Como neighborhood.
      1820 Como Ave SE, Minneapolis, MN 55414
      View Details
    • New
      Contact for pricing
      Pending

      Stadium Village Redevelopment Opportunity

      Prime redevelopment opportunity in the heart of Stadium Village.
      2001 University Ave SE, Minneapolis, MN 55414
      View Details
    • $550,000
      0.11 Acres

      Versatile Commercial Space, Minneapolis

      Adaptable commercial space suitable for diverse business ventures.
      2942 Oakland Ave, Minneapolis, MN 55407
      View Details
    • New
      $4,500,000
      1.44 Acres

      Iconic Restaurant and Bar Opportunity

      Premier waterfront restaurant and bar with high capacity and visibility.
      1900 Marshall St NE, Minneapolis, MN 55415
      View Details
    • $6,000,000
      14,000 SF

      Retail and Office Building

      High visibility retail and office space near light rail.
      2720 University Ave SE, Minneapolis, MN 55414
      View Details
    • $445,000
      0.24 Acres

      Victory Neighborhood Retail Center

      Classic 1920s brick retail center in Victory neighborhood.
      3854 Thomas Ave N, Minneapolis, MN 55412
      View Details
    • New
      Contact for pricing
      Pending

      Corner Lot Ideal for Storage

      34412 Sq. Ft. lot perfect for storage or staging.
      129 Plymouth Ave N, Minneapolis, MN 55411
      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
    • Contact for pricing
      1,500 SF

      Prime Commercial Office Space Available

      1,500 sq. ft. office space perfect for small business.
      1011 W Broadway Ave, Minneapolis, MN 55411
      View Details
    • Contact for pricing
      0.10 Acres

      Retail Space in Whittier Neighborhood

      1350 SF retail space with high ceilings and hardwood floors.
      21 E 26Th St, Minneapolis, MN 55404
      View Details
    • $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

    FAQs

    What type of property is this?
    Commercial land - Land with income near Convention Center, skyway access, development potential.
    Where is this commercial land located?
    The property is located at 228 12Th St S Minneapolis, MN.
    What are key features of this property?
    This property features: - Build up to 50 stories high, with potential for even greater height.; - Prime location across from the Minneapolis Convention Center with skyway access.; - Delivered vacant, allowing for immediate development.
    (612) 227-0757 Call to check price and availability
    Request Owner's contact information
    228 12Th St S Minneapolis, MN 55403
    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.
    228 12Th St S
    Minneapolis, MN 55403
    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
    228 12Th St S Minneapolis, MN 55403
    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!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Joshua Huempfner
    (612) 227-0757 (612) 332-6600 (612) 460-5005
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!