Retail/Office Building with Dock
For Sale
$2,195,000
2922 Lyndale Ave S, Minneapolis, MN 55408
For sale in Minneapolis, this retail/office building includes an enclosed dumpster storage area and a single 8' x 8' dock door.
Property Size15,930 SF
Lot Size0.12 Acres
Price / SF$137.79
Days on Market37
Property Features for 2922 Lyndale Ave S
General Information
Standard status
Active
Size
15,930 SF
Class
C
Lot size
0.12 Acres
Property subtype
retail
Additional Details
Dock-High Doors
1
Amenities
Enclosed dumpster storage area
Listing Agency:
Minneapolis
(612) 217-5156
Listed By:
Zac Hoang · License #40396065
(612) 217-5156
Source:
Property.jll
Added: Jul 16
Changed: Aug 19
Last Checked: Aug 21 at 4:06AM
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 Minneapolis
Investment Insights
Based on property information with market context.
Now available for sale, this retail/office property at 2922 Lyndale Ave S in Minneapolis, MN offers a combined retail and office configuration totaling 15,930 square feet on a 0.12-acre lot.
The building features loading with one (1) 8' x 8' dock door. An enclosed dumpster storage area is also provided.
This is a straightforward option for buyers seeking a mixed retail and office setup with on-site loading and waste storage.
The building features loading with one (1) 8' x 8' dock door. An enclosed dumpster storage area is also provided.
This is a straightforward option for buyers seeking a mixed retail and office setup with on-site loading and waste storage.
Key Highlights
- Retail/office building for sale at 2922 Lyndale Ave S in Minneapolis
- 0.12‑acre lot
- Includes an enclosed dumpster storage area
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
$199,072
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
9.07%
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%
$3,981,440
$4.0M
Cap Rate 7%
$2,843,886
$2.8M
Cap Rate 9%
$2,211,911
$2.2M
Market Conditions
NOI Build-Up for 15,930 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
$332.6K $20.88/SF
− Vacancy
−$67.2K −$4.22/SF
EGI
$265.4K $16.66/SF
− OpEx
−$66.4K −$4.17/SF
NOI
$199.1K $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%
$3,981,440
Cap Rate 7%
$2,843,886
Cap Rate 9%
$2,211,911
Alternative Uses
Best Use
Office B
$2.84M
$2.49M – $3.32M
NOI $199,072 @ 7.0% cap · market cap 9.07%
Second Best
Retail
$2.74M
$2.40M – $3.20M
NOI $191,853 @ 7.0% cap · market cap 8.74%
Theoretical Best
Office A
$3.80M
$3.33M – $4.43M
NOI $266,040 @ 7.0% cap · market cap 12.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Dock-high doors
Location Intelligence
Trade Area within ½ mile
3,773
Businesses Nearby
Explore this area
Business Placement
Demographics for 55408, MN
33,718
Population
17,874
Households
1.9
Avg Household Size
30
Median Age
59%
College-Educated
91%
High-School Grad
2.7 sq mi
ZIP Area
12,488
Density / Sq Mi
$72,421
Median Household Income
$49,753
Median Earnings
$1,385
Median Rent
$387,500
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?
Retail space - For sale in Minneapolis, this retail/office building includes an enclosed dumpster storage area and a single 8' x 8' dock door.
Where is this retail space located?
The property is located at 2922 Lyndale Ave S Minneapolis, MN.
What is the asking price?
The asking price for this property is $2,195,000.
What are key features of this property?
This property features: Retail/office building for sale at 2922 Lyndale Ave S in Minneapolis; 0.12‑acre lot; Includes an enclosed dumpster storage area
