Four-Building Mixed-Use
3978-3990 Alabama Avenue South, St Louis Park, MN 55416
For Sale
Contact for pricing
The property combines warehouse, office, and apartment space under MU-1 Neighborhood Mixed Use zoning.
Property Size23,076 SF
Lot Size0.70 Acres
Price / SF$134.17
Days on Market18
Property Features for 3978-3990 Alabama Avenue South
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Zoning
Warehouse & Industrial
Clear Height
Warehouse Space
Office Build-Out
Additional Details
Asking Price
Highway Access
Property Use
Amenities
loading
drive-in access
Building Details
Buildings
Building Size
Listing Agency:
Results Commercial
Listed By:
Mark Hulsey · License MN #40169559
(651) 755-2068
Source:
Crexi
Added: Oct 26
Changed: Nov 9
Last Checked: Nov 10 at 9:04AM
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 Commercial
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Investment Insights
Based on property information with market context.
This four-building mixed-use property totals 23,076 square feet across 13,398 square feet of warehouse space, 8,028 square feet of offices, and a 1,650-square-foot apartment. The combined site covers 30,505 square feet. Portfolio features include loading, drive-in access, and 30 designated parking spaces; clear heights range from 9 to 18 feet. The properties may be acquired individually or together.
MU-1 Neighborhood Mixed Use zoning applies to the site. Regional routes nearby include Highway 100, Highway 7, and US-169. A Phase I Environmental Site Assessment was completed in September 2025. The city point-of-sale inspection is complete, with a correction list and escrow outline available from the listing brokers.
MU-1 Neighborhood Mixed Use zoning applies to the site. Regional routes nearby include Highway 100, Highway 7, and US-169. A Phase I Environmental Site Assessment was completed in September 2025. The city point-of-sale inspection is complete, with a correction list and escrow outline available from the listing brokers.
Key Highlights
- Four buildings with 23,076 SF total: 13,398 SF warehouse, 8,028 SF office, and 1,650 SF apartment
- 30,505 SF combined site area
- MU‑1 Neighborhood Mixed Use zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$260,479
Cap Rate
8.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,209,580
$5.2M
Cap Rate 7%
$3,721,129
$3.7M
Cap Rate 9%
$2,894,211
$2.9M
Market Conditions
NOI Build-Up for 23,076 SF
Gross rent
$429.2K $18.60/SF
− Vacancy
−$12.4K −$0.54/SF
EGI
$416.8K $18.06/SF
− OpEx
−$156.3K −$6.77/SF
NOI
$260.5K $11.29/SF
Area
Minneapolis, MN
Vacancy
2.90%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,209,580
Cap Rate 7%
$3,721,129
Cap Rate 9%
$2,894,211
Alternative Uses
Best Use
Warehouse
$4.80M
$4.20M – $5.60M
NOI $336,163 @ 7.0% cap · market cap 10.86%
Second Best
Mixed Use
$3.72M
$3.26M – $4.34M
NOI $260,479 @ 7.0% cap · market cap 8.41%
Theoretical Best
Office A
$5.51M
$4.82M – $6.42M
NOI $385,382 @ 7.0% cap · market cap 12.45%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
18 ft
Clear height
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,608
Businesses Nearby
Explore this area
Business Placement
Demographics for 55416, MN
34,129
Population
19,197
Households
1.8
Avg Household Size
36
Median Age
73%
College-Educated
98%
High-School Grad
7.3 sq mi
ZIP Area
4,675
Density / Sq Mi
$105,926
Median Household Income
$70,993
Median Earnings
$1,701
Median Rent
$457,300
Median Home Value
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Market
Properties on Market for Mixed-use properties in Hennepin County
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - The property combines warehouse, office, and apartment space under MU-1 Neighborhood Mixed Use zoning.
Where is this mixed-use property located?
The property is located at 3978-3990 Alabama Avenue South St Louis Park, MN.
What is the asking price?
The asking price for this property is $3,096,000.
What are key features of this property?
This property features: Four buildings with 23,076 SF total: 13,398 SF warehouse, 8,028 SF office, and 1,650 SF apartment; 30,505 SF combined site area; MU‑1 Neighborhood Mixed Use zoning
