Building Details

Building Size 4,180 SF

Year Built 1981

Listing Agency: Cetra Partners j**@cetrapartners.com Show Phone

Listed By: Jay A Chmieleski Show Phone

Source: Evrealestate

Added: Aug 7 Changed: Aug 16 Last Checked: Aug 18 at 5:55AM

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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 Cetra Partners

Investment Insights

Based on property information with market context.

Located at 2860-2862 Wheeler Street N in Roseville, this residential income property contains 4,180 square feet and was built in 1981. Interior features include natural gas and forced-air systems, along with finished full interior space. Chain-link fencing is provided outside.

Access is described from 35 W via County Road D, Fairview Avenue, County Road C2 W, and Wheeler Street N. The property is in Ramsey County and carries a Roseville, Minnesota address.

Key Highlights

• 4,180‑square‑foot residential income property
• Built in 1981
• Natural gas and forced‑air interior systems

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$56,094

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

8.78%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$1,121,880 $1.1M

Cap Rate 7%

$801,343 $801.3K

Cap Rate 9%

$623,267 $623.3K

Market Conditions

NOI Build-Up for 4,180 SF 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.

Gross rent

$108.8K $26.04/SF

− Vacancy

−$6.9K −$1.64/SF

EGI

$102.0K $24.40/SF

− OpEx

−$45.9K −$10.98/SF

NOI

$56.1K $13.42/SF

Area

Ramsey County, MN

Vacancy

6.30%

Lease Rate

$26.04 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$1,121,880

Cap Rate 7%

$801,343

Cap Rate 9%

$623,267

Alternative Uses

Best Use

Apartment 5plus

$801.3K

$701.2K – $934.9K (±1% cap)

NOI $56,094 @ 7.0% cap · market cap 8.78%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$997.3K

$872.6K – $1.16M (±1% cap)

NOI $69,808 @ 7.0% cap · market cap 10.93%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Residential income properties

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Bakery Tanning Salon Daycare Center Storage Facility Travel Agency

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

Location Intelligence

Trade Area within ½ mile

1,792

Businesses Nearby

Explore this area Business Placement

Demographics for 55113, MN

41,699

Population

19,075

Households

2.2

Avg Household Size

40

Median Age

55%

College-Educated

95%

High-School Grad

14.8 sq mi

ZIP Area

2,818

Density / Sq Mi

$86,830

Median Household Income

$49,820

Median Earnings

$1,353

Median Rent

$331,200

Median Home Value

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Frequently Asked Questions

What type of property is this?

Residential income property - Built in 1981, the property combines finished interior space with chain-link exterior fencing.

Where is this residential income property located?

The property is located at 2860-2862 Wheeler Street N Roseville, MN.

What is the asking price?

The asking price for this property is $638,700.

What are key features of this property?

This property features: 4,180‑square‑foot residential income property; Built in 1981; Natural gas and forced‑air interior systems