I-94 Visible Flex/Industrial
For Sale
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3805 Washington Avenue North, Minneapolis, MN 55412
16,408 SF flex/industrial building with I-94 visibility.
Property Size16,408 SF
Price / SF$140.18
Days on Market338
Property Features for 3805 Washington Avenue North
General Information
Standard status
Active
Size
16,408 SF
Class
B
Total Parking Spaces
27
Property subtype
Retail, Office, Industrial
Zoning
CM2 Corridor Mixed Use District
Investment Type
Owner/User
Site & Location
Neighborhood
Camden
Building Details
Year Built
1991
Year Renovated
2000
Buildings
1
Stories
2
Listing Agency:
Results Real Estate Incorporated Plymouth
Listed By:
Arnie Seltzer · License #MN
Source:
Crexi
Added: Nov 24, 2025
Changed: Oct 25
Last Checked: Oct 26 at 3:44PM
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 Results Real Estate Incorporated Plymouth
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Investment Insights
Based on property information with market context.
This 16,408 square foot building offers a blend of flex and industrial space. The first floor comprises 14,252 square feet, while the second floor provides an additional 2,156 square feet. Constructed in 1991 and renovated in 2000 and 2024, the property is suitable for an owner-user, with no current rent obligations. It features excellent visibility on I-94 at Dowling and is located across from the new River Walk Development. Parking is available with 27 stalls, including upper-level parking. The building includes six restrooms, one of which is completely finished.
Key Highlights
- Excellent visibility on I‑94 at Dowling
- Located across from new River Walk Development
- Total Building 16,408 SF
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$174,234
Cap Rate
7.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,484,680
$3.5M
Cap Rate 7%
$2,489,057
$2.5M
Cap Rate 9%
$1,935,933
$1.9M
Market Conditions
NOI Build-Up for 16,408 SF
Gross rent
$257.9K $15.72/SF
− Vacancy
−$9.0K −$0.55/SF
EGI
$248.9K $15.17/SF
− OpEx
−$74.7K −$4.55/SF
NOI
$174.2K $10.62/SF
Area
Minneapolis, MN
Vacancy
3.50%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,484,680
Cap Rate 7%
$2,489,057
Cap Rate 9%
$1,935,933
Alternative Uses
Best Use
Industrial
$2.49M
$2.18M – $2.90M
NOI $174,234 @ 7.0% cap · market cap 7.58%
Second Best
Flex RnD
$2.31M
$2.02M – $2.70M
NOI $161,789 @ 7.0% cap · market cap 7.03%
Theoretical Best
Office A
$3.91M
$3.43M – $4.57M
NOI $274,023 @ 7.0% cap · market cap 11.91%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
374
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 55412, MN
23,800
Population
9,676
Households
2.5
Avg Household Size
33
Median Age
28%
College-Educated
85%
High-School Grad
3.4 sq mi
ZIP Area
7,000
Density / Sq Mi
$71,905
Median Household Income
$42,494
Median Earnings
$1,340
Median Rent
$226,400
Median Home Value
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Market
Vacancy Rate% for Industrial in Minneapolis, MN
Similar Off Market Nearby
- Minnesota Nice Tots — River Terrace Apartments, 2652 Marshall St NE, Minneapolis, MN 55418
Frequently Asked Questions
What type of property is this?
Flex space - 16,408 SF flex/industrial building with I-94 visibility.
Where is this flex space located?
The property is located at 3805 Washington Avenue North Minneapolis, MN.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Excellent visibility on I‑94 at Dowling; Located across from new River Walk Development; Total Building 16,408 SF
