Redeveloped Mixed-Use
For Sale
Contact for pricing
418 N 3rd Ave, Minneapolis, MN 55401
Fully redeveloped mixed-use building offers small full-floor opportunities with on-site parking in Minneapolis’ North Loop.
Property Size15,182 SF
Price / SF$191.02
Days on Market731
Property Features for 418 N 3rd Ave
General Information
Standard status
Active
Size
15,182 SF
Property subtype
OFFICE
Site & Location
Neighborhood
St. Anthony East
Additional Details
Business Included
No
Amenities
on-site parking
Listing Agency:
Assembly MN LLC
(612) 308-9179
Listed By:
Edward Landenberger
(612) 978-3257
Source:
Moodyscre
Added: Oct 28, 2024
Changed: Oct 25
Last Checked: Oct 26 at 3:50PM
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 Assembly MN LLC
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Investment Insights
Based on property information with market context.
This fully redeveloped mixed-use building is offered for sale or lease and is designed to support flexible small full-floor opportunities for office, live-work, and retail uses. The property was completely redeveloped under the guidance of AWH Architects, featuring high-end materials and finishes throughout.
Located in Minneapolis’ North Loop area, the building includes on-site parking to support tenants and visitors. The layout supports multiple use types within the same building, making it suitable for occupants looking for dedicated space while operating under one roof.
With its complete redevelopment and modern finishes, the property presents a ready-to-occupy option for office, live-work, or retail configurations on a full-floor basis.
Located in Minneapolis’ North Loop area, the building includes on-site parking to support tenants and visitors. The layout supports multiple use types within the same building, making it suitable for occupants looking for dedicated space while operating under one roof.
With its complete redevelopment and modern finishes, the property presents a ready-to-occupy option for office, live-work, or retail configurations on a full-floor basis.
Key Highlights
- Fully redeveloped mixed‑use building for sale or for lease
- Small full‑floor opportunities for office, live‑work, and retail uses
- On‑site parking available
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$189,725
Cap Rate
6.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,794,500
$3.8M
Cap Rate 7%
$2,710,357
$2.7M
Cap Rate 9%
$2,108,056
$2.1M
Market Conditions
NOI Build-Up for 15,182 SF
Gross rent
$317.0K $20.88/SF
− Vacancy
−$64.0K −$4.22/SF
EGI
$253.0K $16.66/SF
− OpEx
−$63.2K −$4.17/SF
NOI
$189.7K $12.50/SF
Area
Minneapolis, MN
Vacancy
20.20%
Lease Rate
$20.88 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,794,500
Cap Rate 7%
$2,710,357
Cap Rate 9%
$2,108,056
Alternative Uses
Best Use
Office B
$2.71M
$2.37M – $3.16M
NOI $189,725 @ 7.0% cap · market cap 6.54%
Second Best
Mixed Use
$2.45M
$2.14M – $2.86M
NOI $171,373 @ 7.0% cap · market cap 5.91%
Theoretical Best
Office A
$3.62M
$3.17M – $4.23M
NOI $253,548 @ 7.0% cap · market cap 8.74%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,583
Businesses Nearby
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Business Placement
Demographics for 55401, MN
12,029
Population
8,988
Households
1.3
Avg Household Size
35
Median Age
79%
College-Educated
99%
High-School Grad
0.8 sq mi
ZIP Area
15,036
Density / Sq Mi
$115,651
Median Household Income
$89,599
Median Earnings
$2,010
Median Rent
$401,500
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully redeveloped mixed-use building offers small full-floor opportunities with on-site parking in Minneapolis’ North Loop.
Where is this mixed-use property located?
The property is located at 418 N 3rd Ave Minneapolis, MN.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: Fully redeveloped mixed‑use building for sale or for lease; Small full‑floor opportunities for office, live‑work, and retail uses; On‑site parking available
