Building Details

Year Built 1981

Listing Agency: Cetra Partners

Listed By: Jay A Chmieleski Show Phone

Source: Searchhousesnow

Added: Aug 13 Changed: Oct 5 Last Checked: Oct 4 at 1:07PM

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Investment Insights

Based on property information with market context.

Located at 2860-2862 Wheeler Street N in Roseville, this residential income property contains 4,180 square feet and was built in 1981. Interior features include natural gas and forced-air systems, along with finished full interior space. Chain-link fencing is provided outside.

Access is described from 35 W via County Road D, Fairview Avenue, County Road C2 W, and Wheeler Street N. The property is in Ramsey County and carries a Roseville, Minnesota address.

Key Highlights

• 4,180‑square‑foot residential income property
• Built in 1981
• Natural gas and forced‑air interior systems

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$56,094

Cap Rate

8.78%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,121,880 $1.1M

Cap Rate 7%

$801,343 $801.3K

Cap Rate 9%

$623,267 $623.3K

Market Conditions

NOI Build-Up for 4,180 SF

Gross rent

$108.8K $26.04/SF

− Vacancy

−$6.9K −$1.64/SF

EGI

$102.0K $24.40/SF

− OpEx

−$45.9K −$10.98/SF

NOI

$56.1K $13.42/SF

Area

Ramsey County, MN

Vacancy

6.30%

Lease Rate

$26.04 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,121,880

Cap Rate 7%

$801,343

Cap Rate 9%

$623,267

Alternative Uses

Best Use

Apartment 5plus

$801.3K

$701.2K – $934.9K (±1% cap)

NOI $56,094 @ 7.0% cap · market cap 8.78%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$997.3K

$872.6K – $1.16M (±1% cap)

NOI $69,808 @ 7.0% cap · market cap 10.93%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Residential income properties

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Bakery Tanning Salon Storage Facility Daycare Center Travel Agency

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

830

Businesses Nearby

Explore this area Business Placement

Demographics for 55113, MN

41,699

Population

19,075

Households

2.2

Avg Household Size

40

Median Age

55%

College-Educated

95%

High-School Grad

14.8 sq mi

ZIP Area

2,818

Density / Sq Mi

$86,830

Median Household Income

$49,820

Median Earnings

$1,353

Median Rent

$331,200

Median Home Value

Questions? Ask Rey

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What type of property is this? Where is this residential income properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Residential income property - Built in 1981, the property combines finished interior space with chain-link exterior fencing.

Where is this residential income property located?

The property is located at 2860-2862 Wheeler St N Roseville, MN.

What is the asking price?

The asking price for this property is $638,700.

What are key features of this property?

This property features: 4,180‑square‑foot residential income property; Built in 1981; Natural gas and forced‑air interior systems