Multi-Tenant Office
2434 Commerce Boulevard Mound, MN 55364
For Sale
$829,900
Well-maintained 12-unit office building with no current vacancies and flexible multi-level suites.
Property Size4,833 SF
Price / SF$171.72
Days on Market82
Property Features for 2434 Commerce Boulevard
General Information
- Standard status
- Active
- Size
- 4,833 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1985
Listing Agency:
Compass
(952) 258-3100
Listed By:
Geoffrey S Serdar
(952) 258-3100
Source:
Juverealestate
Added: May 4
Changed: Jul 22
Last Checked: Jul 23 at 6:12AM
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 Compass
Investment Insights
Based on property information with market context.
Located at 2434 Commerce Boulevard in Mound, this well-maintained multi-tenant office building offers 12 office units across multiple levels. The property provides approximately 4,800+ finished square feet and a flexible layout intended to accommodate a variety of professional office uses.
The building is situated on a high-visibility corridor just off Commerce Boulevard, supporting convenient access for tenants and clients. On-site parking is available, and the property is described as being near Lake Minnetonka communities.
The current configuration is presented as having no vacancies, creating immediate occupancy. The remarks also note potential for additional revenue through future rent optimization and possible leasing of storage areas in the basement.
The building is situated on a high-visibility corridor just off Commerce Boulevard, supporting convenient access for tenants and clients. On-site parking is available, and the property is described as being near Lake Minnetonka communities.
The current configuration is presented as having no vacancies, creating immediate occupancy. The remarks also note potential for additional revenue through future rent optimization and possible leasing of storage areas in the basement.
Key Highlights
- 1985‑built, well‑maintained 12‑unit office building
- Approximately 4,800+ finished SF across multiple levels with a flexible office layout
- Currently no vacancies with in‑place income from all 12 units
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $106.1k | $21.96 |
| − Vacancy | −$29.6k | −$6.13 |
| EGI | $76.5k | $15.83 |
| − OpEx | −$19.1k | −$3.96 |
| NOI | $57.4k | $11.87 |
4,833 SF · lease $21.96/SF/yr · vacancy 27.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$819.9K
$717.4K – $956.5K
NOI $57,391 @ 7.0% cap · market cap 6.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.15M
$1.01M – $1.35M
NOI $80,714 @ 7.0% cap · market cap 9.73%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office buildings
FAQs
What type of property is this?
Office building - Well-maintained 12-unit office building with no current vacancies and flexible multi-level suites.
Where is this office building located?
The property is located at 2434 Commerce Boulevard Mound, MN.
What is the asking price?
The asking price for this property is $829,900.
What are key features of this property?
This property features: 1985‑built, well‑maintained 12‑unit office building; Approximately 4,800+ finished SF across multiple levels with a flexible office layout; Currently no vacancies with in‑place income from all 12 units
