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    Minneapolis Multi-Tenant Industrial Investment Opportunity Title is generated by Realmo AI

    2930 N 2nd Street, Minneapolis, MN 55411

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    Commercial - Minneapolis, MN

    Lot size:
    6.42 Acres
    Added:
    May 19, 2026
    Days on Market:
    2
    Last Refresh:
    May 20 at 12:06 am

    Property Features for 2930 N 2nd Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Business/Commercial,Industrial
    Parking features
    Parking Lot
    Exterior features
    Other
    Standard status
    Active
    APN
    1002924310099
    Lot size
    6.42 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    361086

    Utilities

    Heating system
    Other (Heating)

    Building Details

    Year built
    1981
    Architectural style
    Other

    We can help!

    Listing Contact
    Rustam Muharamov

    Listing agent Rustam Muharamov

    Listing office Keller Williams Integrity Realty 2680 Snelling Ave., Roseville, MN

    Listing date May 19, 2026

    MLS# 7077168 Listing URL

    Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Strong long‑term investment opportunity with stable income and growth potential.
    • Diverse tenant mix, including Fortune 500 companies and a commercial kitchen operator with significant investment.
    • Below‑market rental rates offer substantial upside through lease renewals and restructuring.
    • Excellent location near Downtown Minneapolis with immediate access to I‑94, I‑394, and Highway 55.
    • Zoning allows for a wide range of uses, increasing leasing flexibility.
    • Recent capital improvements and proactive management minimize near‑term maintenance costs.

    Overview

    This multi-tenant industrial building presents an investment opportunity, offering stability and long-term returns. The property accommodates a diverse tenant mix across warehouse, light manufacturing, and flex spaces, including some Fortune 500 tenants and a commercial kitchen operator. The commercial kitchen operator has invested over $2 million in a state-of-the-art facility. The zoning allows for a wide range of uses, enhancing long-term leasing flexibility and tenant appeal. The property is currently leased at below-market rental rates, offering upside as leases renew or are restructured to market levels. Recent capital improvements and proactive management have positioned the asset for continued performance with minimal near-term maintenance. The property is located minutes from Downtown Minneapolis with access to I-94, I-394, and Highway 55. The property is located in Minneapolis, MN, and is situated on a 6.42-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    LIB Technologies Skateboards Security Service

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    • Frybread Express — 3111 California St NE, Minneapolis, MN 55418, United States
    • Braise Catering — 208 N 29th Ave, Minneapolis, MN 55411
    • Root to Rise Kitchen — 617 Lowry Ave N suite 802, Minneapolis, MN 55411
    • St. Paul Restaurant & Catering, INC. — 2902 N 2nd St, Minneapolis, MN 55411
    • Minnesota Nice Tots — River Terrace Apartments, 2652 Marshall St NE, Minneapolis, MN 55418

    Location Insight

    • Map
    • Local Demand
    City
    Minneapolis
    County
    Anoka
    State
    Minnesota
    Longitude
    -93.279536
    Latitude
    45.009483

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    FAQs

    What type of property is this?
    Flex space - Well-maintained industrial building with diverse tenants near Downtown Minneapolis.
    Where is this flex space located?
    The property is located at 2930 N 2nd Street Minneapolis, MN.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Strong long‑term investment opportunity with stable income and growth potential.; Diverse tenant mix, including Fortune 500 companies and a commercial kitchen operator with significant investment.; Below‑market rental rates offer substantial upside through lease renewals and restructuring.
    (612) 444-3333
    We can help!
    Listing Contact
    Rustam Muharamov
    Learn More
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    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
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