Multifamily
305 Jackson Ave N, Hopkins, MN 55343
For Sale
$489,900
Residential-Multi-Family zoning and finished interior space support a residential income-property configuration.
Property Size3,331 SF
Price / SF$147.07
Days on Market94
Property Features for 305 Jackson Ave N
General Information
Standard status
Size
Property subtype
Building Details
Year Built
Listing Agency:
Chestnut Realty Inc
Listed By:
Chad M Haasken
(952) 368-0422
Source:
Homesearchlive
Added: Aug 9
Changed: Nov 10
Last Checked: Nov 8 at 12:40PM
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 Chestnut Realty Inc
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Investment Insights
Based on property information with market context.
This multifamily property at 305 Jackson Avenue N in Hopkins was built in 1967 and includes finished interior space. The building is equipped with natural gas and forced-air systems, with concrete and attached exterior features identified in the property information.
The property is located on Jackson Avenue N, north of 2nd Street NE, with access from Excelsior Boulevard between Hwy. 100 and Hwy. 169. Hennepin County records identify the zoning as Residential-Multi-Family.
The property is located on Jackson Avenue N, north of 2nd Street NE, with access from Excelsior Boulevard between Hwy. 100 and Hwy. 169. Hennepin County records identify the zoning as Residential-Multi-Family.
Key Highlights
- Residential‑Multi‑Family zoning
- Built in 1967
- Finished interior space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,934
Cap Rate
7.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$778,680
$778.7K
Cap Rate 7%
$556,200
$556.2K
Cap Rate 9%
$432,600
$432.6K
Market Conditions
NOI Build-Up for 3,331 SF
Gross rent
$75.1K $22.56/SF
− Vacancy
−$4.4K −$1.31/SF
EGI
$70.8K $21.25/SF
− OpEx
−$31.9K −$9.56/SF
NOI
$38.9K $11.69/SF
Area
Hennepin County, MN
Vacancy
5.80%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$778,680
Cap Rate 7%
$556,200
Cap Rate 9%
$432,600
Alternative Uses
Best Use
Apartment 5plus
$556.2K
$486.7K – $648.9K
NOI $38,934 @ 7.0% cap · market cap 7.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$794.7K
$695.4K – $927.2K
NOI $55,630 @ 7.0% cap · market cap 11.36%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
781
Businesses Nearby
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Business Placement
Demographics for 55343, MN
26,307
Population
14,111
Households
1.9
Avg Household Size
38
Median Age
52%
College-Educated
97%
High-School Grad
7.7 sq mi
ZIP Area
3,416
Density / Sq Mi
$82,415
Median Household Income
$54,823
Median Earnings
$1,427
Median Rent
$350,700
Median Home Value
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Market
Average Price Trend$/SF for Multifamily properties in Hennepin County, MN
Properties on Market for Multifamily properties in Hennepin County
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Multifamily property - Residential-Multi-Family zoning and finished interior space support a residential income-property configuration.
Where is this multifamily property located?
The property is located at 305 Jackson Ave N Hopkins, MN.
What is the asking price?
The asking price for this property is $489,900.
What are key features of this property?
This property features: Residential‑Multi‑Family zoning; Built in 1967; Finished interior space
