21-Unit Apartment Building For
3040 Bridge Street Northwest, Saint Francis, MN 55070
21-unit apartment building with stable income in a growing community.
Type:Multifamily
Property size:
16,192 SFPrice / SF:
$148/SF- Added:
- Feb 16, 2026
- Days on Market:
- 90
- Last Refresh:
- Mar 17 at 1:16 pm
Property Features for 3040 Bridge Street Northwest
General Information
- Standard status
- Active
- Size
- 16,192 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1990
Listing agent Mike Bobick License #40048013
Listing office SVN | GC Real Estate
Listing date Feb 16, 2026
Source Crexi
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 SVN | GC Real Estate
HighLights
- Strong rental demand in a growing, supply‑constrained market (St. Francis, MN).
- Stable, income‑producing 21‑unit apartment building, built in 1990.
- All units are desirable 1‑bedroom apartments with large walk‑in closets and separate electric meters.
- Comprehensive amenities include a community room with full kitchen, lounge, cabana, grill/picnic area, and private green space.
- Ample parking: 12 detached garage spaces and 25 surface parking spaces with vehicle plug‑ins.
- Handicap accessibility with elevator service, auto door openers, controlled access, and intercom entry system.
Overview
This 21-unit apartment building, constructed in 1990, offers stable income and rental appeal. The building features all 1-bedroom units, each equipped with large walk-in closets and separate electric meters with electric subpanels. Residents benefit from controlled access, an intercom entry system, and handicap accessibility, including elevator service and auto door openers. Community amenities include a community room with a full kitchen, a lounge, cabana, grill and picnic area, and a private green space. On-site conveniences include in-building coin laundry on both levels, a fire panel monitoring system, mailboxes, a manager’s office, and individual storage lockers for each unit. The property has a durable brick façade with lap siding and asphalt roofing, which was replaced in 2007. Extensive landscaping and exterior lighting enhance the property's appeal. Parking is ample, with 12 detached garages, 25 surface spaces, and parking lot outlets for vehicle plug-ins. Mechanical features include a 2024 water heater, water softener system, hallway forced-air heat, and in-unit boiler heat; tenants own their wall A/C units. The building is located in St. Francis, MN, which offers multifamily investors a market driven by strong housing demand and limited competition. The property size is 16192 square feet.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$2.05M
NOI $184,799 @ 9.00% cap · cautious / downside scenario
Moderate
$2.64M
NOI $184,799 @ 7.00% cap · market / base-case scenario
Aggressive
$3.70M
NOI $184,799 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $361.4k | $22.32 |
| − Vacancy | −$25.4k | −$1.57 |
| EGI | $336.0k | $20.75 |
| − OpEx | −$151.2k | −$9.34 |
| NOI | $184.8k | $11.41 |
16,192 SF · lease $22.32/SF/yr · vacancy 7.03% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$2.64M
$2.31M – $3.08M
NOI $184,799 @ 7.0% cap · market cap 7.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.50M
$3.94M – $5.25M
NOI $314,835 @ 7.0% cap · market cap 13.12%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Saint Francis
- County
- Anoka
- State
- Minnesota
- Longitude
- -93.3447065
- Latitude
- 45.3850598
FAQs
What type of property is this?
Apartment building - 21-unit apartment building with stable income in a growing community.
Where is this apartment building located?
The property is located at 3040 Bridge Street Northwest Saint Francis, MN.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: Strong rental demand in a growing, supply‑constrained market (St. Francis, MN).; Stable, income‑producing 21‑unit apartment building, built in 1990.; All units are desirable 1‑bedroom apartments with large walk‑in closets and separate electric meters.
