New
For Sale
$799,000
6043 Brooklyn Boulevard, Brooklyn Center, MN 55429
Residential Income, Brooklyn Center, MN
Property Size3,885 SF
Lot Size0.44 Acres
Price / SF$205.66
Days on Market5
Property Features for 6043 Brooklyn Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
Residential-Multi-Family
Bedrooms
9
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 1, Bedroom 4, Bedroom 6, Bathroom 2, Bathroom 5, Basement, Bathroom 3, Bathroom 6, Bedroom 9, Bathroom 1, Bathroom 4, Bedroom 2, Bedroom 8, Bedroom 3, Bedroom 7, Bedroom 5
Parking features
Covered
Subdivision
Wangstads Brooklyn Terrace
High school district
Robbinsdale
Directions
PID 0311821120087 Corner of Brooklyn Blvd and 61st Ave N
Standard status
Active
Size
3,885 SF
Lot size
0.44 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
18475
Utilities
Heating system
Hot Water(Heating), Forced Air
Building Details
Year built
2022
Listing Agency:
RE/MAX Results · RE/MAX International
(651) 251-4800
Listed By:
Mark K Hulsey · License #40169559
(952) 829-2900
Added: Sep 24
Changed: Sep 25
Last Checked: Sep 28 at 5:06AM
MLS# 7149773
Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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
$50,346
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
6.30%
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%
$1,006,920
$1.0M
Cap Rate 7%
$719,229
$719.2K
Cap Rate 9%
$559,400
$559.4K
Market Conditions
NOI Build-Up for 3,885 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
$76.9K $19.80/SF
− Vacancy
−$5.0K −$1.29/SF
EGI
$71.9K $18.51/SF
− OpEx
−$21.6K −$5.55/SF
NOI
$50.3K $12.96/SF
Area
Hennepin County, MN
Vacancy
6.50%
Lease Rate
$19.80 /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%
$1,006,920
Cap Rate 7%
$719,229
Cap Rate 9%
$559,400
Alternative Uses
Best Use
Multifamily LT 5
$719.2K
$629.3K – $839.1K
NOI $50,346 @ 7.0% cap · market cap 6.30%
Second Best
Apartment 5plus
$648.7K
$567.6K – $756.8K
NOI $45,409 @ 7.0% cap · market cap 5.68%
Theoretical Best
Office A
$926.9K
$811.0K – $1.08M
NOI $64,882 @ 7.0% cap · market cap 8.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
896
Businesses Nearby
Explore this area
Business Placement
Demographics for 55429, MN
28,755
Population
10,529
Households
2.7
Avg Household Size
34
Median Age
24%
College-Educated
88%
High-School Grad
6.0 sq mi
ZIP Area
4,793
Density / Sq Mi
$66,661
Median Household Income
$40,255
Median Earnings
$1,253
Median Rent
$267,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
Where is this triplex located?
The property is located at 6043 Brooklyn Boulevard Brooklyn Center, MN.
What is the asking price?
The asking price for this property is $799,000.
