Renovated Mixed-Use Corner
New
For Sale
$445,000
4649 Bloomington Avenue, Minneapolis, MN 55407
CM1 zoning permits general retail and office uses, with dedicated off-street parking and prominent Bloomington Avenue signage.
Property Size2,422 SF
Lot Size0.12 Acres
Price / SF$183.73
Days on Market2
Property Features for 4649 Bloomington Avenue
General Information
Standard status
Active
Size
2,422 SF
Total Parking Spaces
10
Lot size
0.12 Acres
Property subtype
Commercial
Zoning
CM1-Neighborhood Mixed Use
Site & Location
Corner Location
Yes
Highway Access
Yes
Amenities
new parking lot
additional exterior storage buildings
new pergola
artisan cedar front facade
building signage facing Bloomington Avenue
Building Details
Year Built
1922
Year Renovated
2020
Buildings
3
Building Size
2,422 SF
Listing Agency:
Remax Lakes Region
Listed By:
The Antonov Group
(612) 445-4981
Source:
Theantonovgroup
Added: Sep 11
Last Checked: Sep 11 at 7:03AM
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 Remax Lakes Region
Investment Insights
Based on property information with market context.
This mixed-use property contains a 2,422 Sq. Ft. building on .12 Acres, originally constructed in 1922 and renovated in 2020. The CM1-Neighborhood Mixed Use zoning permits general retail and office uses. A flat rubber membrane roof was replaced in 2019, and both the central furnace and A/C were replaced that year. Exterior improvements include a new pergola, artisan cedar front facade, and a parking lot installed in 2025. Two additional storage buildings provide enclosed space measuring 6'W x 35'L and 11'W x 20'L.
The corner property has building signage facing Bloomington Avenue and access to I-35W, Hwy. 62, Hwy. 77, and Hiawatha Avenue. It is minutes from the MSP International Airport and within walking distance of Lake Nokomis and Lake Hiawatha.
The corner property has building signage facing Bloomington Avenue and access to I-35W, Hwy. 62, Hwy. 77, and Hiawatha Avenue. It is minutes from the MSP International Airport and within walking distance of Lake Nokomis and Lake Hiawatha.
Key Highlights
- 2,422 Sq. Ft. building on .12 Acres; built in 1922 and renovated in 2020
- CM1‑Neighborhood Mixed Use zoning permits general retail and office uses
- New parking lot installed in 2025
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
$29,169
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
6.55%
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%
$583,380
$583.4K
Cap Rate 7%
$416,700
$416.7K
Cap Rate 9%
$324,100
$324.1K
Market Conditions
NOI Build-Up for 2,422 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
$45.0K $18.60/SF
− Vacancy
−$3.4K −$1.40/SF
EGI
$41.7K $17.21/SF
− OpEx
−$12.5K −$5.16/SF
NOI
$29.2K $12.04/SF
Area
Minneapolis, MN
Vacancy
7.50%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
30.00%
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%
$583,380
Cap Rate 7%
$416,700
Cap Rate 9%
$324,100
Alternative Uses
Best Use
Retail
$416.7K
$364.6K – $486.2K
NOI $29,169 @ 7.0% cap · market cap 6.55%
Second Best
Mixed Use
$390.6K
$341.7K – $455.7K
NOI $27,339 @ 7.0% cap · market cap 6.14%
Theoretical Best
Office A
$577.8K
$505.6K – $674.2K
NOI $40,449 @ 7.0% cap · market cap 9.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
622
Businesses Nearby
51k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 55%
Shops & Services 45%
Speedway
Shops & Services
22,803 visits/mo
0.2 miles
Starbucks
Dining
12,560 visits/mo
0.2 miles
Caribou Coffee
Dining
11,867 visits/mo
0.3 miles
Domino's Pizza
Dining
3,768 visits/mo
0.2 miles
Demographics for 55407, MN
38,506
Population
15,979
Households
2.4
Avg Household Size
34
Median Age
48%
College-Educated
85%
High-School Grad
4.0 sq mi
ZIP Area
9,627
Density / Sq Mi
$78,206
Median Household Income
$46,388
Median Earnings
$1,219
Median Rent
$317,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Minneapolis, MN
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - CM1 zoning permits general retail and office uses, with dedicated off-street parking and prominent Bloomington Avenue signage.
Where is this mixed-use property located?
The property is located at 4649 Bloomington Avenue Minneapolis, MN.
What is the asking price?
The asking price for this property is $445,000.
What are key features of this property?
This property features: 2,422 Sq. Ft. building on .12 Acres; built in 1922 and renovated in 2020; CM1‑Neighborhood Mixed Use zoning permits general retail and office uses; New parking lot installed in 2025
