Brooklyn Boulevard Commercial
For Sale
$2,750,000
7839 Brooklyn Boulevard, Minneapolis, MN 55445
16,500 SF building on 2.66 acres near retailers.
Property Size16,500 SF
Lot Size2.66 Acres
Price / SF$166.67
Days on Market140
Property Features for 7839 Brooklyn Boulevard
General Information
Standard status
Active
Size
16,500 SF
Lot size
2.66 Acres
Property subtype
Office
Listing Agency:
CBRE - Minnesota
(612) 336-4310
Listed By:
Jerry Driessen
(612) 336-4310
Source:
Cbre
Added: Mar 25
Changed: Jul 10
Last Checked: Aug 11 at 8:20AM
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 CBRE - Minnesota
Investment Insights
Based on property information with market context.
Located off Brooklyn Boulevard and W Broadway Ave, the property is near County Rd 81/Bottineau Blvd and approximately 2 miles from Hwy 169. The 16,500 SF one-story building was built in 1977 and includes central heating and air conditioning. The property also features a garage. Situated on 2.66 acres of land, the real estate taxes are estimated at $36,486. The property is surrounded by a vibrant suburban neighborhood and is in close proximity to area retailers such as Cub and Target, as well as restaurants and childcare facilities. Zoned TOD-C - Transit Oriented Development Center District, potential uses include office, medical and dental clinics, multiple dwelling, care facility, veterinary services, daycare, restaurant, retail and service.
Key Highlights
- Zoned TOD‑C - Transit Oriented Development Center District, allowing for diverse development options.
- 2.66 acres of land.
- Located right off of Brooklyn Boulevard and W Broadway Ave, near major roads (County Rd 81/Bottineau Blvd and Hwy 169).
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
$206,195
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
7.50%
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%
$4,123,900
$4.1M
Cap Rate 7%
$2,945,643
$2.9M
Cap Rate 9%
$2,291,056
$2.3M
Market Conditions
NOI Build-Up for 16,500 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
$344.5K $20.88/SF
− Vacancy
−$69.6K −$4.22/SF
EGI
$274.9K $16.66/SF
− OpEx
−$68.7K −$4.17/SF
NOI
$206.2K $12.50/SF
Area
Minneapolis, MN
Vacancy
20.20%
Lease Rate
$20.88 /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%
$4,123,900
Cap Rate 7%
$2,945,643
Cap Rate 9%
$2,291,056
Alternative Uses
Best Use
Office B
$2.95M
$2.58M – $3.44M
NOI $206,195 @ 7.0% cap · market cap 7.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.94M
$3.44M – $4.59M
NOI $275,559 @ 7.0% cap · market cap 10.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
219
Businesses Nearby
Explore this area
Business Placement
Demographics for 55445, MN
13,865
Population
4,793
Households
2.9
Avg Household Size
35
Median Age
38%
College-Educated
91%
High-School Grad
7.8 sq mi
ZIP Area
1,778
Density / Sq Mi
$103,227
Median Household Income
$57,417
Median Earnings
$2,053
Median Rent
$311,000
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - 16,500 SF building on 2.66 acres near retailers.
Where is this office building located?
The property is located at 7839 Brooklyn Boulevard Minneapolis, MN.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: Zoned TOD‑C - Transit Oriented Development Center District, allowing for diverse development options.; 2.66 acres of land.; Located right off of Brooklyn Boulevard and W Broadway Ave, near major roads (County Rd 81/Bottineau Blvd and Hwy 169).
