Multi-Tenant Flex
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For Sale
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2930 N 2nd St, Minneapolis, MN 55411
The property accommodates warehouse, light manufacturing, and flex tenants under business/commercial and industrial zoning.
Property Size155,250 SF
Days on Market6
Property Features for 2930 N 2nd St
General Information
Standard status
Active
Size
155,250 SF
Site & Location
Neighborhood
Near North
Highway Access
Yes
Additional Details
Tenant in Place
Yes
Property Use
Industrial
Building Details
Year Built
1981
Tenancy
Multi
Listing Agency:
Keller Williams Integrity Realty
Listed By:
Rustam Muharamov
(612) 444-3333
Source:
Tayloronken
Added: Oct 19
Changed: Oct 23
Last Checked: Sep 16 at 7:16PM
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 Keller Williams Integrity Realty
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Investment Insights
Based on property information with market context.
Constructed in 1981, this multi-tenant flex property has occupants using the space for warehouse operations, light manufacturing, and flex uses. The tenant mix also includes Fortune 500 companies and a commercial kitchen operator.
At 2930 N 2nd Street in Minneapolis, the property is described as minutes from Downtown Minneapolis, with access to I-94, I-394, and Highway 55. Its zoning designations are Business/Commercial and Industrial.
At 2930 N 2nd Street in Minneapolis, the property is described as minutes from Downtown Minneapolis, with access to I-94, I-394, and Highway 55. Its zoning designations are Business/Commercial and Industrial.
Key Highlights
- Multi‑tenant building with warehouse, light manufacturing, and flex occupants
- Tenant mix includes Fortune 500 companies and a commercial kitchen operator
- Business/Commercial and Industrial zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$1,530,822
Suggested Prices Based on Cap Rates
Cap Rate 5%
$30,616,440
$30.6M
Cap Rate 7%
$21,868,886
$21.9M
Cap Rate 9%
$17,009,133
$17.0M
Market Conditions
NOI Build-Up for 155,250 SF
Gross rent
$2.44M $15.72/SF
− Vacancy
−$85.4K −$0.55/SF
EGI
$2.36M $15.17/SF
− OpEx
−$824.3K −$5.31/SF
NOI
$1.53M $9.86/SF
Area
Minneapolis, MN
Vacancy
3.50%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$30,616,440
Cap Rate 7%
$21,868,886
Cap Rate 9%
$17,009,133
Alternative Uses
Best Use
Warehouse
$32.31M
$28.27M – $37.69M
NOI $2,261,626 @ 7.0% cap · market cap 226,162,600.00%
Second Best
Industrial
$23.55M
$20.61M – $27.48M
NOI $1,648,578 @ 7.0% cap · market cap 164,857,800.00%
Theoretical Best
Office A
$37.04M
$32.41M – $43.21M
NOI $2,592,759 @ 7.0% cap · market cap 259,275,900.00%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
691
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 55411, MN
31,214
Population
10,967
Households
2.8
Avg Household Size
28
Median Age
23%
College-Educated
81%
High-School Grad
4.0 sq mi
ZIP Area
7,804
Density / Sq Mi
$53,368
Median Household Income
$35,952
Median Earnings
$1,220
Median Rent
$233,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Minneapolis, MN
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- Root to Rise Kitchen — 617 Lowry Ave N suite 802, Minneapolis, MN 55411
- Minnesota Nice Tots — River Terrace Apartments, 2652 Marshall St NE, Minneapolis, MN 55418
Frequently Asked Questions
What type of property is this?
Flex space - The property accommodates warehouse, light manufacturing, and flex tenants under business/commercial and industrial zoning.
Where is this flex space located?
The property is located at 2930 N 2nd St Minneapolis, MN.
What are key features of this property?
This property features: Multi‑tenant building with warehouse, light manufacturing, and flex occupants; Tenant mix includes Fortune 500 companies and a commercial kitchen operator; Business/Commercial and Industrial zoning
