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    Minneapolis Mixed-Use Redevelopment Opportunity Title is generated by Realmo AI

    1330 Quincy St, Minneapolis, MN

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    Historic mixed-use building in the Northeast Minneapolis artist district.

    Type:OFFICE
    Property size:
    40,976 SF
    Lot size:
    0.55 Acres
    Price / SF:
    $134/SF
    Added:
    Sep 20, 2022
    Days on Market:
    1356
    Last Refresh:
    May 20 at 9:25 pm

    Property Features for 1330 Quincy St

    General Information

    Standard status
    Active
    Size
    40,976 SF
    Lot size
    0.55 Acres
    Property subtype
    OFFICE

    We can help!

    Listing Contact
    Julie Bauch
    Julie Bauch

    Listing agent Julie Bauch

    Listing office Bauch Enterprises, Inc

    Listing date Sep 20, 2022

    Source Moodyscre

    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 Bauch Enterprises, Inc

    HighLights

    • High redevelopment potential: Reimagine this building for residential lofts, boutique hotel, brewery, or restaurant.
    • Size and location: 40,976 sq ft building on .548 acres in the heart of the NE Mpls artist district.
    • Income generation: $284,255 gross annual rent from 21 month‑to‑month leases on upper floors.
    • Flexible space: Four floors plus basement and courtyard area, with additional 6,815 sq ft warehouse space including loading dock and overhead door.
    • Ample parking: 20+ parking spaces available.
    • Recent roof updates: New roof on the main building, warehouse annex roof replaced in 2001.

    Overview

    This brick and timber building, constructed in 1921 for the Nash Coffee Company, is located in the heart of the Northeast Minneapolis artist district. The mixed-use property features four floors plus a basement and courtyard area. The building contains 40,976 square feet on a 0.548-acre lot. The property includes a wet sprinkler system throughout the entire building, except for the warehouse annex. A new roof has been installed on the main building, while the warehouse annex roof was replaced in 2001. There are over 20 parking spaces available. The zoning is I-2 light industrial. The first floor is currently occupied by a retail tenant, Architectural Antiques, which is willing to vacate. The second through fourth floors have 21 month-to-month leases in place, generating a gross annual rent of $284,255. The property offers an opportunity for residential lofts, a boutique hotel, or a brewery or restaurant. The first floor includes 6,815 square feet of adjacent warehouse space with a loading dock and overhead door, accommodating up to 10 vehicles. The elevator was decommissioned in 2001 and is not currently usable.
    Property Profile Location Intelligence

    Current Use by Public Records

    The Greenery Studio (Bike/Boat/Book/etc) Store Grounded Studios (Bike/Boat/Book/etc) Store Melissa Borman Artist Artist Vivek Narula Portrait Photography Service Kristin McCarthy Photography Photography Service

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Minneapolis
    County
    Anoka
    State
    Minnesota
    Longitude
    -93.2515
    Latitude
    45.0021

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    FAQs

    What type of property is this?
    Mixed-use property - Historic mixed-use building in the Northeast Minneapolis artist district.
    Where is this mixed-use property located?
    The property is located at 1330 Quincy St Minneapolis, MN.
    What is the asking price?
    The asking price for this property is $5,500,000.
    What are key features of this property?
    This property features: High redevelopment potential: Reimagine this building for residential lofts, boutique hotel, brewery, or restaurant.; Size and location: 40,976 sq ft building on .548 acres in the heart of the NE Mpls artist district.; Income generation: $284,255 gross annual rent from 21 month‑to‑month leases on upper floors.
    (612) 860-2467 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Julie Bauch
    Julie Bauch
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    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.

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