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

    608 2Nd Ave South Minneapolis, MN 55402

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

    1,600 RSF office space available on the skyway level.

    Property size:
    1,600 SF
    Lot size:
    1,600 SF

    Property Features for 608 2Nd Ave South

    General Information

    Standard status
    Active
    Size
    1,600 SF

    We can help!

    Listing Contact
    Jerry Driessen
    Source: Cbre

    Listing Agent: Jerry Driessen

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

    Learn more

    Overview

    Skyway Level Office Space

    Approximately 1,600 rentable square feet of vacant office space is available for lease on the skyway level. The property faces 2nd Avenue South and is situated next to the skyway connecting Capella Tower and NorthStar Center.
    Location Intelligence

    Current Use by Public Records

    Carrow Larry w ... Dental Office Marty Mathis Clothiers Clothing & Fashion Store Northstar Center Property Management Company Groove Lofts at Northstar ... Apartment Complex Gary C. Fink Law Firm

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Minneapolis
    County
    Anoka
    State
    Minnesota
    Longitude
    -93.2694115
    Latitude
    44.9765993

    Nearby Similar for Lease

    • Sponsored
      Contact for pricing

      MN, Minneapolis - 7825 Washington Ave

      Workspaces, services and support to help you work better in FL, Winter Haven - 316 Avenue
      7825 Washington Ave, Minneapolis, MN 55439
      View Details
    • Contact for pricing

      MN, Minneapolis - Washington Ave

      Workspaces, services and support to help you work better in John Hancock Center
      333 Washington Ave, Minneapolis, MN 55401
      View Details
    • Contact for pricing

      MN, Minneapolis - Lagoon Ave

      Find fully flexible work and meeting space in MN, Minneapolis - Lagoon Ave
      1330 Lagoon Ave 4Rth, Minneapolis, MN 55408
      View Details
    • Contact for pricing

      MN, Minneapolis - South 6th St

      Discover many ways to work your way in MN, Minneapolis - South 6th St
      120 6Th St, Minneapolis, MN 55402
      View Details
    • Contact for pricing

      MN, Minneapolis - Spaces North Loop

      Find fully flexible work and meeting space in Spaces Colony Square
      121 Washington Ave., Minneapolis, MN 55401
      View Details
    • Contact for pricing

      Stand-Alone Office Building in Camden

      Two-story office building with parking in Camden neighborhood.
      800 North 42Nd Ave, Minneapolis, MN 55412
      View Details
    • Contact for pricing
      5,500 SF

      Prime Restaurant Space Available

      5,500 RSF restaurant space for lease on first floor.
      250 Portland Ave, Minneapolis, MN 55415
      View Details
    • $24 SF/Yr

      Retail/Office Space in Luxury Building

      Corner retail/office space with abundant natural light in St. Louis Park.
      3510 Belt Line Blvd, St Louis Park, MN 55416
      View Details
    • Contact for pricing

      Steelman Creative: Historical Warehouse District

      Creative space in Minneapolis' Historical Warehouse District with skyline views.
      411 N Washington Ave, Minneapolis, MN 55401
      View Details
    • Contact for pricing

      Downtown Minneapolis Full Floor Office

      Move-in ready office space with skyway access and great amenities.
      510 Marquette Ave, Minneapolis, MN 55402
      View Details
    • $23 SF/Yr
      5,623 SF

      Remodeled Office Space Available

      Move-in ready office space in Minneapolis near I-35W.
      2520 Broadway St Northeast, Minneapolis, MN 55413
      View Details
    • Contact for pricing
      5,100 SF

      Stand-Alone Office Building in Camden

      Two-story office building with parking in Camden neighborhood.
      800 North 42Nd Ave, Minneapolis, MN 55412
      View Details

    FAQs

    What type of property is this?
    Office units - 1,600 RSF office space available on the skyway level.
    Where is this office units located?
    The property is located at 608 2Nd Ave South Minneapolis, MN.
    What are key features of this property?
    This property features: - 1,600 rsf vacant space available for lease.; - Located on the skyway level.; - Faces 2nd Ave South.
    (612) 336-4310
    Request Owner's contact information
    608 2Nd Ave South Minneapolis, MN 55402
    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.
    608 2Nd Ave South
    Minneapolis, MN 55402
    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
    608 2Nd Ave South Minneapolis, MN 55402
    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
    Jerry Driessen
    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!