Residential Income Property with Heated
16001 Nowthen Boulevard NW, Ramsey, MN 55303
For Sale
$459,900
Pending
The property includes a finished, walk-out lower level and a heated garage.
Property Size3,286 SF
Days on Market68
Property Features for 16001 Nowthen Boulevard NW
General Information
Standard status
Size
Property subtype
Taxes and HOA fees
Annual Taxes
Amenities
Natural Gas, Forced Air
Walk-Out Access, Block, Finished, Full, Daylight
Asphalt, Garage Door Opener, Heated Garage
Building Details
Building Size
Year Built
Stories
Listed By:
Benjamin J. Fritz
(612) 750-6700
Source:
Evrealestate
Added: Sep 3
Changed: Nov 7
Last Checked: Nov 8 at 6:21AM
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 Benjamin J. Fritz
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Investment Insights
Based on property information with market context.
This residential income property contains 3,286 square feet and was built in 1982. Interior features include natural gas, forced-air heating, and a finished full basement with daylight and walk-out access. The basement is constructed of block.
Exterior features include asphalt and a heated garage with a garage door opener. The property is located at 16001 Nowthen Boulevard NW in Ramsey, Minnesota.
Exterior features include asphalt and a heated garage with a garage door opener. The property is located at 16001 Nowthen Boulevard NW in Ramsey, Minnesota.
Key Highlights
- 3,286‑square‑foot residential income property built in 1982
- Finished full basement with daylight and walk‑out access
- Block basement construction
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,503
Cap Rate
8.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$750,060
$750.1K
Cap Rate 7%
$535,757
$535.8K
Cap Rate 9%
$416,700
$416.7K
Market Conditions
NOI Build-Up for 3,286 SF
Gross rent
$73.3K $22.32/SF
− Vacancy
−$5.2K −$1.57/SF
EGI
$68.2K $20.75/SF
− OpEx
−$30.7K −$9.34/SF
NOI
$37.5K $11.41/SF
Area
Anoka County, MN
Vacancy
7.03%
Lease Rate
$22.32 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$750,060
Cap Rate 7%
$535,757
Cap Rate 9%
$416,700
Alternative Uses
Best Use
Apartment 5plus
$535.8K
$468.8K – $625.1K
NOI $37,503 @ 7.0% cap · market cap 8.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$912.7K
$798.7K – $1.06M
NOI $63,892 @ 7.0% cap · market cap 13.89%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
12
Businesses Nearby
Explore this area
Business Placement
Demographics for 55303, MN
51,480
Population
20,317
Households
2.5
Avg Household Size
38
Median Age
31%
College-Educated
96%
High-School Grad
64.4 sq mi
ZIP Area
799
Density / Sq Mi
$101,351
Median Household Income
$54,788
Median Earnings
$1,348
Median Rent
$338,700
Median Home Value
Market
Average Price Trend$/SF for Residential income properties in Anoka County, MN
Properties on Market for Residential income properties in Anoka County
Frequently Asked Questions
What type of property is this?
Residential income property - The property includes a finished, walk-out lower level and a heated garage.
Where is this residential income property located?
The property is located at 16001 Nowthen Boulevard NW Ramsey, MN.
What is the asking price?
The asking price for this property is $459,900.
What are key features of this property?
This property features: 3,286‑square‑foot residential income property built in 1982; Finished full basement with daylight and walk‑out access; Block basement construction
