Office Building with Stained
3005 James Avenue S, Minneapolis, MN 55408
For Sale
$825,000
A multi-level professional property offers private offices, waiting areas, and a landscaped outdoor retreat.
Property Size3,748 SF
Price / SF$220.12
Days on Market59
Property Features for 3005 James Avenue S
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Site & Location
Neighborhood
Additional Details
Office Units
Tenant in Place
Property Use
Taxes and HOA fees
Annual Taxes
Amenities
front porch
high ceilings
maple floors
stained glass
built-ins
Zen Garden
central air
basement storage
laundry room
back staircase entrance
Building Details
Building Size
Year Built
Buildings
Stories
Units
Tenancy
Listing Agency:
Edina Realty, Inc.
(952) 285-3100
Listed By:
Jacqueline Day And Partners
(612) 670-0503
Source:
Driveresultsrealty
Added: Sep 12
Changed: Nov 7
Last Checked: Nov 8 at 7:11PM
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 Edina Realty, Inc.
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Investment Insights
Based on property information with market context.
Built in 1906, this 3,748-square-foot office property spans two and a half stories and includes seven offices, two reception or waiting rooms, and three bathrooms. Interior details include maple flooring, stained-glass windows, built-in features, and high ceilings. A third-floor suite has a half bath, and the building also has a rear stairway, full basement with storage and laundry, hot-water boiler heat, and central air conditioning. Five on-site parking spaces and a fenced garden are part of the property.
The building is at 3005 James Avenue S in Minneapolis, one property from Lake Street businesses and restaurants and two blocks from Lake Bde Maka Ska. Isles, Bde Maka Ska, and Lunds are within walking distance. Zoning is Business/Commercial.
The building is at 3005 James Avenue S in Minneapolis, one property from Lake Street businesses and restaurants and two blocks from Lake Bde Maka Ska. Isles, Bde Maka Ska, and Lunds are within walking distance. Zoning is Business/Commercial.
Key Highlights
- 3,748‑square‑foot office building constructed in 1906
- Seven offices, two waiting rooms, and three bathrooms
- Third‑floor office suite with half bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,574
Cap Rate
5.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$971,480
$971.5K
Cap Rate 7%
$693,914
$693.9K
Cap Rate 9%
$539,711
$539.7K
Market Conditions
NOI Build-Up for 3,748 SF
Gross rent
$90.0K $24.00/SF
− Vacancy
−$9.0K −$2.40/SF
EGI
$81.0K $21.60/SF
− OpEx
−$32.4K −$8.64/SF
NOI
$48.6K $12.96/SF
Area
Minneapolis, MN
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$971,480
Cap Rate 7%
$693,914
Cap Rate 9%
$539,711
Alternative Uses
Best Use
Healthcare Medical
$693.9K
$607.2K – $809.6K
NOI $48,574 @ 7.0% cap · market cap 5.89%
Second Best
Office B
$669.1K
$585.5K – $780.6K
NOI $46,838 @ 7.0% cap · market cap 5.68%
Theoretical Best
Office A
$894.2K
$782.4K – $1.04M
NOI $62,594 @ 7.0% cap · market cap 7.59%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
7
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,980
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
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Market
Properties on Market for Office buildings in Minneapolis
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - A multi-level professional property offers private offices, waiting areas, and a landscaped outdoor retreat.
Where is this office building located?
The property is located at 3005 James Avenue S Minneapolis, MN.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: 3,748‑square‑foot office building constructed in 1906; Seven offices, two waiting rooms, and three bathrooms; Third‑floor office suite with half bath
