Multifamily Property with
3345 Harriet Avenue, Minneapolis, MN 55408
For Sale
$714,900
Residential-multifamily zoning and unfinished storage space add functional features to this Minneapolis property.
Property Size6,060 SF
Price / SF$171.85
Days on Market12
Property Features for 3345 Harriet Avenue
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Neighborhood
Taxes and HOA fees
Annual Taxes
Amenities
Laundry
Natural Gas
Storage Space, Unfinished
Chain Link
Building Details
Building Size
Year Built
Stories
Listing Agency:
Coldwell Banker Realty
Listed By:
Mark C. Fearing
(763) 226-7127
Source:
Evrealestate
Added: Nov 2
Changed: Nov 12
Last Checked: Nov 12 at 7:57AM
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 Coldwell Banker Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Located at 3345 Harriet Avenue in Minneapolis, this multifamily property was built in 1916 and contains 4,160 square feet. Its interior includes natural gas service and unfinished storage space, while chain-link fencing is present outside.
The property is zoned Residential-Multi-Family. The directions reference access from I-35W via the 35th/36th Street exit.
The property is zoned Residential-Multi-Family. The directions reference access from I-35W via the 35th/36th Street exit.
Key Highlights
- 4,160‑square‑foot multifamily property
- Built in 1916
- Residential‑Multi‑Family zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,826
Cap Rate
7.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,116,520
$1.1M
Cap Rate 7%
$797,514
$797.5K
Cap Rate 9%
$620,289
$620.3K
Market Conditions
NOI Build-Up for 4,160 SF
Gross rent
$108.3K $26.04/SF
− Vacancy
−$6.8K −$1.64/SF
EGI
$101.5K $24.40/SF
− OpEx
−$45.7K −$10.98/SF
NOI
$55.8K $13.42/SF
Area
Minneapolis, MN
Vacancy
6.30%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,116,520
Cap Rate 7%
$797,514
Cap Rate 9%
$620,289
Alternative Uses
Best Use
Apartment 5plus
$797.5K
$697.8K – $930.4K
NOI $55,826 @ 7.0% cap · market cap 7.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$992.5K
$868.4K – $1.16M
NOI $69,474 @ 7.0% cap · market cap 9.72%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
2,299
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
$387,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Multifamily properties in Minneapolis, MN
Properties on Market for Multifamily properties in Minneapolis
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Multifamily property - Residential-multifamily zoning and unfinished storage space add functional features to this Minneapolis property.
Where is this multifamily property located?
The property is located at 3345 Harriet Avenue Minneapolis, MN.
What is the asking price?
The asking price for this property is $714,900.
What are key features of this property?
This property features: 4,160‑square‑foot multifamily property; Built in 1916; Residential‑Multi‑Family zoning
