Shovel-Ready Triplex
6045 Brooklyn Boulevard Brooklyn Center, MN 55429
6045 Brooklyn Boulevard, Brooklyn Center, MN, 55429
$2,690,000
For Sale
$2,690,000
Two newly constructed triplexes plus entitlements for five additional triplexes, with major site infrastructure and plan sets ready.
Property Size7,050 SF
Price / SF$381.56
Days on Market58
Property Features for 6045 Brooklyn Boulevard
General Information
- Standard status
- Active
- Size
- 7,050 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 2022
Listing agency
RE/MAX Results
(651) 274-0025
Listed by
Nicole L Stone
(651) 274-0025
Source
Juverealestate
Added: May 27 Updated: Jul 22 at 3:18PM Checked: Jul 22 at 3:18PM
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.
The offering includes two completed newly constructed triplex buildings, positioned for immediate occupancy or lease-up, along with fully entitled approvals for five additional triplexes. The completed product provides near-term income potential while the remaining phases are ready to move forward.
Site work has been substantially completed, with roads, utilities, grading, and drainage systems in place. The seller will also provide comprehensive architectural and engineering plan sets, including architectural drawings and civil engineering plans, along with supporting documentation tied to the approved development.
With discretionary approvals secured and completed horizontal infrastructure, this is designed to reduce pre-development risk and support a streamlined transition to vertical construction for the remaining triplex units.
Site work has been substantially completed, with roads, utilities, grading, and drainage systems in place. The seller will also provide comprehensive architectural and engineering plan sets, including architectural drawings and civil engineering plans, along with supporting documentation tied to the approved development.
With discretionary approvals secured and completed horizontal infrastructure, this is designed to reduce pre-development risk and support a streamlined transition to vertical construction for the remaining triplex units.
Key Highlights
- Year built 2022: two newly constructed triplex buildings included for immediate occupancy or lease‑up
- Includes full entitlements for five additional triplexes, enabling immediate continuation of the development plan
- Major horizontal site infrastructure completed, including roads, utilities, grading, and drainage systems
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $139.6k | $19.80 |
| − Vacancy | −$9.1k | −$1.29 |
| EGI | $130.5k | $18.51 |
| − OpEx | −$39.2k | −$5.55 |
| NOI | $91.4k | $12.96 |
7,050 SF · lease $19.80/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.31M
$1.14M – $1.52M
NOI $91,362 @ 7.0% cap · market cap 3.40%
Second Best
Apartment 5plus
$1.18M
$1.03M – $1.37M
NOI $82,403 @ 7.0% cap · market cap 3.06%
Theoretical Best
Office A
$1.68M
$1.47M – $1.96M
NOI $117,739 @ 7.0% cap · market cap 4.38%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Two newly constructed triplexes plus entitlements for five additional triplexes, with major site infrastructure and plan sets ready.
Where is this triplex located?
The property is located at 6045 Brooklyn Boulevard Brooklyn Center, MN.
What is the asking price?
The asking price for this property is $2,690,000.
What are key features of this property?
This property features: Year built 2022: two newly constructed triplex buildings included for immediate occupancy or lease‑up; Includes full entitlements for five additional triplexes, enabling immediate continuation of the development plan; Major horizontal site infrastructure completed, including roads, utilities, grading, and drainage systems
