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Building Details

Year Built 1909

Buildings 1

Listing Agency: National Realty Guild

Listed By: Su-Jingjing Brown Show Phone

Source: Brickandbanister

Added: Aug 25 Changed: Oct 13 Last Checked: Oct 7 at 5:41PM

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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 National Realty Guild

Investment Insights

Based on property information with market context.

This 2,856-square-foot quadplex at 2740 Lyndale Ave S in Minneapolis was built in 1909 and contains four two-bedroom units. The building underwent extensive remodeling by a previous owner, including work to the roof, boilers, furnaces, and electrical systems, with permits pulled for the improvements.

Each unit has its own boiler and furnace. The property also provides 8 off-street parking spaces, while Unit 2 is being maintained vacant. Two large basement storage areas offer additional building utility and feature substantial ceiling height.

Key Highlights

• Four‑unit quadplex with 2,856 SF of building area
• Each unit includes 2 bedrooms
• Remodeling included roof, boilers, furnaces, and electrical systems

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$41,728

Cap Rate

6.42%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$834,560 $834.6K

Cap Rate 7%

$596,114 $596.1K

Cap Rate 9%

$463,644 $463.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,856 SF

Gross rent

$63.4K $22.20/SF

− Vacancy

−$3.8K −$1.33/SF

EGI

$59.6K $20.87/SF

− OpEx

−$17.9K −$6.26/SF

NOI

$41.7K $14.61/SF

Area

Minneapolis, MN

Vacancy

5.98%

Lease Rate

$22.20 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$834,560

Cap Rate 7%

$596,114

Cap Rate 9%

$463,644

Alternative Uses

Best Use

Multifamily LT 5

$596.1K

$521.6K – $695.5K (±1% cap)

NOI $41,728 @ 7.0% cap · market cap 6.42%

Second Best

Apartment 5plus

$547.5K

$479.1K – $638.8K (±1% cap)

NOI $38,327 @ 7.0% cap · market cap 5.90%

Theoretical Best

Office A

$681.4K

$596.2K – $795.0K (±1% cap)

NOI $47,697 @ 7.0% cap · market cap 7.34%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Quadplexes

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Pet Grooming Service Tanning Salon Pet Store HVAC Service Clothing & Fashion Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

4

Residential units

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

4,058

Businesses Nearby

Explore this area Business Placement

Demographics for 55408, MN

33,718

Population

17,874

Households

1.9

Avg Household Size

30

Median Age

59%

College-Educated

91%

High-School Grad

2.7 sq mi

ZIP Area

12,488

Density / Sq Mi

$72,421

Median Household Income

$49,753

Median Earnings

$1,385

Median Rent

$387,500

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

What type of property is this?

Quadplex - Remodeled four-unit property with separate heating systems and off-street parking.

Where is this quadplex located?

The property is located at 2740 Lyndale Ave S Minneapolis, MN.

What is the asking price?

The asking price for this property is $650,000.

What are key features of this property?

This property features: Four‑unit quadplex with 2,856 SF of building area; Each unit includes 2 bedrooms; Remodeling included roof, boilers, furnaces, and electrical systems