400 N 1st Street, Minneapolis, MN 55401
Two office/retail suites for sale in Minneapolis' North Loop.
- Added:
- Feb 20, 2020
- Days on Market:
- 2328
- Last Refresh:
- Jul 4 at 10:05 pm
Property Features for 400 N 1st Street
General Information
- Standard status
- Active
- Size
- 6,638 SF
- Property subtype
- Office
Building Details
- Year Built
- 1900
Listing office Results Commercial (651) 256-7404
Listing date Feb 20, 2020
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 Results Commercial
HighLights
- Prime North Loop location in Minneapolis.
- Two office/retail suites available for sale or lease.
- Flexible C3A zoning suitable for various businesses (creative office, fitness center, etc.).
- Historic building with exposed brick and timber, and 12' ceilings.
- Association dues include heat, water, trash, and other utilities.
- Large open spaces and multiple private offices in both units.
Overview
Local Financial Insights For Office B
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $138.6k | $20.88 |
| − Vacancy | −$28.0k | −$4.22 |
| EGI | $110.6k | $16.66 |
| − OpEx | −$27.7k | −$4.17 |
| NOI | $83.0k | $12.50 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Minneapolis
- County
- Anoka
- State
- Minnesota
- Longitude
- -93.271264
- Latitude
- 44.9874045