Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2321-2323 W 66Th St Richfield, MN 55423

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail and office spaces in central Richfield location.

    Property size:
    554 SF
    Lot size:
    0.84 Acres

    Property Features for 2321-2323 W 66Th St

    General Information

    Size
    554 SF
    Lot size
    0.84 Acres

    We can help!

    Listing Contact
    William Skip Melin
    William Skip Melin
    Source: Moodyscre

    Listing Agency: Cushman & Wakefield Listing Agent: William Skip Melin

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

    Learn more

    Overview

    Richfield Retail and Office Space

    This property, centrally located in Richfield off Penn Avenue and 66th Street, offers both retail and office spaces for rent. The property includes approximately 500 square feet of retail space on the first floor, and approximately 2,800 square feet of office space on the second floor. The office space features 3 private offices with a reception area. Ample parking is available. The property is located in close proximity to Southdale Mall and other amenities.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Richfield
    County
    Hennepin
    State
    Minnesota
    Longitude
    -93.3095383
    Latitude
    44.8830384

    Nearby Similar for Lease

    • Contact for pricing
      14,000 SF

      Retail Space in Edina Trade

      Retail space in a well-connected, highly visible Edina location.
      2900-2950 W 66Th St, Richfield, MN 55423
      View Details
    • Contact for pricing
      6,178 SF

      Retail Space in Richfield Center

      Retail space in a three-building retail center in Richfield.
      6545-6555 Lyndale Ave S, Richfield, MN
      View Details
    • Contact for pricing
      1,943 SF

      Restaurant Space with Patio

      Restaurant space available with high visibility and strong co-tenancy.
      1700-1732 66Th St E, Richfield, MN 55423
      View Details
    • $10 SF/Yr
      1,571 SF

      Richfield Executive Office Suite

      Prime Richfield Office Space Available
      2323 66Th St, Richfield, MN 55423
      View Details
    • Contact for pricing
      1,540 SF

      Retail Space Near I-494

      Retail space with high visibility and strong co-tenancy.
      710-900 78 St W, Richfield, MN
      View Details
    • Contact for pricing
      5,956 SF

      Office Space with Atrium

      Office space with convenient location and on-site amenities.
      6625 Lyndale Ave S, Richfield, MN
      View Details
    • Contact for pricing
      5,612 SF

      Richfield Office Space Available

      Office space for rent in Richfield, Minnesota.
      6601 Lyndale Ave S, Richfield, MN
      View Details
    • Contact for pricing
      5,578 SF

      Richfield Office Space For Rent

      Office space with great visibility and access in Richfield.
      6636 S Cedar Ave, Richfield, MN 55404
      View Details
    • $23 SF/Yr
      300,000 SF

      Move-in Ready LEED Certified Office

      Office space with amenities in booming Minneapolis suburb.
      7601 Penn Ave S, Richfield, MN
      View Details
    • Contact for pricing
      9,715 SF

      Class A Office Campus Setting

      Two Class A buildings totaling 397,000 RSF for single tenant.
      2 Meridian Crossings, Richfield, MN
      View Details
    • Contact for pricing
      2,631 SF

      Class A Office Campus Setting

      Two Class A buildings totaling 383,000 RSF for single tenant.
      1 Meridian Crossings, Richfield, MN
      View Details
    • Contact for pricing
      4,800 SF

      Retail Space in Central Richfield

      Retail space with quality finishes and dedicated parking.
      6445 Lyndale Ave S, Richfield, MN
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail and office spaces in central Richfield location.
    Where is this retail space located?
    The property is located at 2321-2323 W 66Th St Richfield, MN.
    What are key features of this property?
    This property features: - Approximately 2,800 square feet on the 2nd floor; - Ample parking; - 3 private offices with a reception area
    (952) 465-3377 Call to check price and availability
    Request Owner's contact information
    2321-2323 W 66Th St Richfield, MN 55423
    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.
    2321-2323 W 66Th St
    Richfield, MN 55423
    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
    2321-2323 W 66Th St Richfield, MN 55423
    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!
    Contact for Pricing
    Please call us for current price
    and status of this listing William Skip Melin
    William Skip Melin
    Real Estate License ID: S56957000
    (952) 465-3377 (952) 200-7890 (952) 831-1000
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!