For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    North Loop Office/Retail Suites Title is generated by Realmo AI

    400 N 1st Street, Minneapolis, MN 55401

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Two office/retail suites for sale in Minneapolis' North Loop.

    Type:Office
    Property size:
    6,638 SF
    Price / SF:
    $146/SF
    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

    We can help!

    Contact an agent
    Mark Hulsey
    Mark Hulsey

    Listing office Results Commercial

    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

    Located in the high-demand North Loop area of Minneapolis, The Lindsay Building offers two office or retail suites available for sale or lease. The property is zoned C3A Community Activity Center District and is situated above 80 residential units. Unit 101 features 4,139 rentable square feet, a large kitchen, eight private offices, a reception area, open areas, and a utility room. The 2024 association dues, which include heat, are $2,234.41 per month. Unit 102 offers 6,638 rentable square feet, two kitchens, eight private offices, a reception area, open areas, a copy room, a resource room, and large windows. The 2024 association dues, including heat, are $3,587.32 per month. The historic building includes two restrooms in the common area, exposed brick and timber, 12-foot ceilings, and large open spaces in both units. Parking spaces, totaling 18, are available for lease at $142 per month starting October 1, 2023, with 2.5% annual increases. Association dues cover heating, water, trash, master insurance, management fees, snow removal, inside and outside maintenance, and reserves. The units have hot water baseboard heating, and air handlers capable of heating and cooling are installed in each unit. The suites are suitable for a creative office space, business center, or fitness center.

    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
    6,638 SF · lease $20.88/SF/yr · vacancy 20.20% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $1.19M
    $1.04M – $1.38M (±1% cap)
    NOI $82,953 @ 7.0% cap · market cap 8.51%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $1.58M
    $1.39M – $1.85M (±1% cap)
    NOI $110,858 @ 7.0% cap · market cap 11.37%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Creative Arc, Inc. Marketing & Advertising American Health Mart Pharmacy Riverwalk Lofts Condominium Complex K and H Painting ... Renovation Specialist Upper Midwest Inspections Home Inspector

    Suggested Use

    Supermarket (Bike/Boat/Book/etc) Store Pet Grooming Service Butcher Adult Day Care Locksmith (Bike/Boat/Book/etc) Store Restaurant (Bike/Boat/Book/etc) Store Veterinary Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Minneapolis
    County
    Anoka
    State
    Minnesota
    Longitude
    -93.271264
    Latitude
    44.9874045

    FAQs

    What type of property is this?
    Creative space - Two office/retail suites for sale in Minneapolis' North Loop.
    Where is this creative space located?
    The property is located at 400 N 1st Street Minneapolis, MN.
    What is the asking price?
    The asking price for this property is $974,800.
    What are key features of this property?
    This property features: 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.).
    (651) 256-7404 Call to check price and availability
    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message