Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1516 W Lake St Minneapolis, MN 55408

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $30 SF/Yr ($712 /Mo)

    Recently remodeled office space in the heart of Uptown.

    Property size:
    285 SF
    Lot size:
    0.25 Acres

    Property Features for 1516 W Lake St

    General Information

    Size
    285 SF
    Lot size
    0.25 Acres

    We can help!

    Listing Contact
    Mike Doyle
    Source: Moodyscre

    Listing Agency: Kenwood Commercial Listing Agent: Mike Doyle

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

    Learn more

    Overview

    Remodeled Uptown Office Space

    This office space, encompassing 285 square feet, is situated in the heart of Uptown. The common areas have been recently remodeled. The location provides access to transit, restaurants, and shopping. Bde Maka Ska is located blocks away. Convenient off-street parking is available for tenants and guests.
    Location Intelligence

    Current Use by Public Records

    Williams Douglas C Physician Kristin N. Procopio, ... Physician Kathleen Lynch Healing ... Alternative Medicine Practice Jigjiga Business Center Hotel & Motel Farmers Insurance - Steven ... Insurance Agency

    Suggested Use

    Law Firm Restaurant Real Estate Agency Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Daycare Center Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Minneapolis
    County
    Anoka
    State
    Minnesota
    Longitude
    -93.3018227
    Latitude
    44.9486512

    Nearby Similar for Lease

    • $17 SF/Yr
      6,744 SF

      Prime Downtown Minneapolis Retail Space

      Located in the heart of downtown with high pedestrian traffic.
      730 S 2Nd Ave, Minneapolis, MN 55402
      View Details
    • $17 SF/Yr
      1,298 SF

      Downtown Minneapolis Retail Space

      Skyway and street-level retail spaces available for lease in downtown Minneapolis.
      733 Marquette Ave, Minneapolis, MN 55402
      View Details
    • $17 SF/Yr
      4,374 SF

      Downtown Minneapolis Retail & Office

      Retail and office spaces in the heart of Minneapolis.
      706 S 2Nd Ave, Minneapolis, MN 55402
      View Details
    • $17 SF/Yr
      1,912 SF

      Downtown Minneapolis Retail & Services

      Retail and service spaces available in downtown Minneapolis.
      705 S Marquette Ave, Minneapolis, MN 55402
      View Details
    • Contact for pricing
      230 SF

      Community Landmark with Flexible Spaces

      Versatile spaces available for rent with various amenities and features.
      310 E 38Th St, Minneapolis, MN 55409
      View Details
    • $2,200,000
      1,370 SF

      Nicollet Avenue Retail/Office Building

      Modern retail/office building with high visibility and versatile space.
      2627-2639 Nicollet Ave, Minneapolis, MN 55408
      View Details
    • Contact for pricing
      739 SF

      Prime Retail Space Near Lightrail

      Highly visible retail space with excellent foot traffic and public transportation.
      3810 46Th St E, Minneapolis, MN 55419
      View Details
    • $10 SF/Yr
      59,865 SF

      Northrup King Building Space Available

      Office, industrial, and warehouse space for lease in Minneapolis.
      802 18Th Ave NE, Minneapolis, MN 55411
      View Details
    • Contact for pricing
      22,806 SF

      New Hope Office Leasing Opportunity

      Office suites available in well-located New Hope building.
      7100 Medicine Lake Rd, Minneapolis, MN 55427
      View Details
    • Contact for pricing
      5,096 SF

      Luxury Mixed-Use Property Retail Spaces

      Retail spaces available in luxury mixed-use property, prime downtown location.
      510-550 S 4Th St, Minneapolis, MN 55401
      View Details
    • Contact for pricing
      3,200 SF

      Prime Uptown Retail Space

      Retail space in a vibrant, amenity-rich Uptown location.
      1433 W Lake St, Minneapolis, MN 55408
      View Details
    • $14 SF/Yr
      75,526 SF

      Modern Office Space For Lease

      75,526 SF renovated office space with ample parking.
      7831 Glenroy Rd, Minneapolis, MN 55439
      View Details

    FAQs

    What type of property is this?
    Office space - Recently remodeled office space in the heart of Uptown.
    Where is this office space located?
    The property is located at 1516 W Lake St Minneapolis, MN.
    What is the lease rate?
    The lease rate is $30 SF/Yr.
    What are key features of this property?
    This property features: - Located in the heart of Uptown; - Great access to transit, restaurants & shopping; - Just blocks away from Bde Maka Ska
    (612) 242-8820
    Request Owner's contact information
    1516 W Lake St Minneapolis, MN 55408
    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.
    1516 W Lake St
    Minneapolis, MN 55408
    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
    1516 W Lake St Minneapolis, MN 55408
    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
    Mike Doyle
    (612) 242-8820
    Learn more
    Google sign-in failed. Please try again or use another login method.