Three-Unit Office Property with Lake
New
For Sale
$1,185,000
4100 Shoreline Dr, Spring Park, MN 55384
Flexible office configuration supports owner occupancy, leasing, or a combined professional headquarters with on-site parking.
Property Size5,398 SF
Price / SF$219.53
Days on Market3
Property Features for 4100 Shoreline Dr
General Information
Standard status
Active
Size
5,398 SF
Additional Details
Office Units
3
Amenities
lake views
Building Details
Year Built
2005
Listing Agency:
RE/MAX Advantage Plus
Listed By:
Mark P. Abdel
(651) 283-8251
Source:
Tayloronken
Added: Sep 2
Changed: Sep 3
Last Checked: Sep 3 at 2:29AM
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 RE/MAX Advantage Plus
Investment Insights
Based on property information with market context.
Built in 2005, this office property comprises three individual units totaling approximately 5,398 square feet. The units may be acquired separately or together, allowing an owner-user to occupy selected space while leasing the balance or consolidate the suites into a larger headquarters. The layout supports a professional client-facing environment with flexibility for office, boutique retail, and other commercial applications identified for the property.
The property is located at 4100 Shoreline Dr in Spring Park, directly across from Lake Minnetonka. Lake views provide a distinctive setting for businesses, while on-site parking serves clients and employees. Several indoor parking spaces may also be accommodated.
The property is located at 4100 Shoreline Dr in Spring Park, directly across from Lake Minnetonka. Lake views provide a distinctive setting for businesses, while on-site parking serves clients and employees. Several indoor parking spaces may also be accommodated.
Key Highlights
- Three individual office units totaling approximately 5,398 square feet
- Units can be purchased individually or combined under one ownership
- Directly across from Lake Minnetonka with lake views
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$64,101
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.41%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,282,020
$1.3M
Cap Rate 7%
$915,729
$915.7K
Cap Rate 9%
$712,233
$712.2K
Market Conditions
NOI Build-Up for 5,398 SF
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.
Gross rent
$118.5K $21.96/SF
− Vacancy
−$33.1K −$6.13/SF
EGI
$85.5K $15.83/SF
− OpEx
−$21.4K −$3.96/SF
NOI
$64.1K $11.87/SF
Area
Hennepin County, MN
Vacancy
27.90%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,282,020
Cap Rate 7%
$915,729
Cap Rate 9%
$712,233
Alternative Uses
Best Use
Office B
$915.7K
$801.3K – $1.07M
NOI $64,101 @ 7.0% cap · market cap 5.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.29M
$1.13M – $1.50M
NOI $90,150 @ 7.0% cap · market cap 7.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Office units
Location Intelligence
Trade Area within ½ mile
272
Businesses Nearby
Explore this area
Business Placement
Demographics for 55384, MN
1,734
Population
1,318
Households
1.3
Avg Household Size
59
Median Age
31%
College-Educated
94%
High-School Grad
0.4 sq mi
ZIP Area
4,335
Density / Sq Mi
$46,860
Median Household Income
$38,558
Median Earnings
$1,223
Median Rent
$598,400
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Flexible office configuration supports owner occupancy, leasing, or a combined professional headquarters with on-site parking.
Where is this office units located?
The property is located at 4100 Shoreline Dr Spring Park, MN.
What is the asking price?
The asking price for this property is $1,185,000.
What are key features of this property?
This property features: Three individual office units totaling approximately 5,398 square feet; Units can be purchased individually or combined under one ownership; Directly across from Lake Minnetonka with lake views
