Multifamily
For Sale
$349,900
4509 Fillmore St NE, Columbia Heights, MN 55421
Established in 1959, this income-property asset is positioned in Columbia Heights.
Property Size1,850 SF
Price / SF$189.14
Days on Market59
Property Features for 4509 Fillmore St NE
General Information
Standard status
Active
Size
1,850 SF
Property subtype
Multi-Family
Building Details
Year Built
1959
Listing Agency:
RE/MAX Results
Listed By:
Lucas Hansen
(507) 402-0347
Source:
Homesearchlive
Added: Aug 17
Changed: Oct 3
Last Checked: Oct 7 at 1:09PM
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 Results
Investment Insights
Based on property information with market context.
This multifamily property is located at 4509 Fillmore St NE in Columbia Heights, Minnesota. The property information records a size of 1,850 and a 1959 construction year.
The asset is situated in the 55421 ZIP code within the Columbia Heights market. Its classification is multifamily property, with the available information identifying it as a residential income property.
The asset is situated in the 55421 ZIP code within the Columbia Heights market. Its classification is multifamily property, with the available information identifying it as a residential income property.
Key Highlights
- 1,850 recorded property size
- Built in 1959
- Located at 4509 Fillmore St NE, Columbia Heights, MN 55421
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,114
Cap Rate
6.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$422,280
$422.3K
Cap Rate 7%
$301,629
$301.6K
Cap Rate 9%
$234,600
$234.6K
Market Conditions
NOI Build-Up for 1,850 SF
Gross rent
$41.3K $22.32/SF
− Vacancy
−$2.9K −$1.57/SF
EGI
$38.4K $20.75/SF
− OpEx
−$17.3K −$9.34/SF
NOI
$21.1K $11.41/SF
Area
Anoka County, MN
Vacancy
7.03%
Lease Rate
$22.32 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$422,280
Cap Rate 7%
$301,629
Cap Rate 9%
$234,600
Alternative Uses
Best Use
Apartment 5plus
$301.6K
$263.9K – $351.9K
NOI $21,114 @ 7.0% cap · market cap 6.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$513.9K
$449.6K – $599.5K
NOI $35,971 @ 7.0% cap · market cap 10.28%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
554
Businesses Nearby
Explore this area
Business Placement
Demographics for 55421, MN
30,580
Population
13,247
Households
2.3
Avg Household Size
37
Median Age
34%
College-Educated
90%
High-School Grad
6.3 sq mi
ZIP Area
4,854
Density / Sq Mi
$75,141
Median Household Income
$44,242
Median Earnings
$1,281
Median Rent
$260,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Established in 1959, this income-property asset is positioned in Columbia Heights.
Where is this multifamily property located?
The property is located at 4509 Fillmore St NE Columbia Heights, MN.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: 1,850 recorded property size; Built in 1959; Located at 4509 Fillmore St NE, Columbia Heights, MN 55421
