Small-Bay Office
For Sale
Contact for pricing
6213-6217 Lake St W, St Louis Park, MN 55416
Office units at 6213-6217 West Lake Street with direct street frontage and quick access to major highways.
Property Size3,140 SF
Price / SF$175.16
Days on Market107
Property Features for 6213-6217 Lake St W
General Information
Standard status
Active
Size
3,140 SF
Property subtype
OFFICE
Site & Location
Highway Access
Yes
Road Access
Yes
Listing Agency:
Kenwood Commercial
(952) 212-0757
Listed By:
Mike Doyle
(612) 242-8820
Source:
Moodyscre
Added: May 27
Changed: Sep 8
Last Checked: Sep 9 at 6:51PM
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 Kenwood Commercial
Investment Insights
Based on property information with market context.
6213-6217 West Lake Street offers a small-bay office configuration for sale in St Louis Park. The property comprises office units totaling 3,140 square feet, and it is positioned for straightforward access from West Lake Street.
Public remarks note direct frontage on West Lake Street and quick access to MN-7, MN-100, MN-62, and I-394. The property is also described as being near the West End market cluster and the Methodist Hospital / Park Nicollet medical campus, with additional dining and retail amenities along Excelsior Boulevard. Downtown Minneapolis is estimated in the remarks to be roughly ten to fifteen minutes to the east.
For buyers seeking a compact office asset with direct street frontage and convenient regional connectivity, this property provides a simple, small-bay office footprint in an established inner-ring suburb.
Public remarks note direct frontage on West Lake Street and quick access to MN-7, MN-100, MN-62, and I-394. The property is also described as being near the West End market cluster and the Methodist Hospital / Park Nicollet medical campus, with additional dining and retail amenities along Excelsior Boulevard. Downtown Minneapolis is estimated in the remarks to be roughly ten to fifteen minutes to the east.
For buyers seeking a compact office asset with direct street frontage and convenient regional connectivity, this property provides a simple, small-bay office footprint in an established inner-ring suburb.
Key Highlights
- Office units at 6213‑6217 West Lake Street with direct street frontage on West Lake Street
- Quick access to MN‑7, MN‑100, MN‑62, and I‑394
- Located in Saint Louis Park’s West Lake Street area, near the West End market cluster
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
$39,240
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
7.13%
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%
$784,800
$784.8K
Cap Rate 7%
$560,571
$560.6K
Cap Rate 9%
$436,000
$436.0K
Market Conditions
NOI Build-Up for 3,140 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
$65.6K $20.88/SF
− Vacancy
−$13.2K −$4.22/SF
EGI
$52.3K $16.66/SF
− OpEx
−$13.1K −$4.17/SF
NOI
$39.2K $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 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%
$784,800
Cap Rate 7%
$560,571
Cap Rate 9%
$436,000
Alternative Uses
Best Use
Office B
$560.6K
$490.5K – $654.0K
NOI $39,240 @ 7.0% cap · market cap 7.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$749.1K
$655.5K – $874.0K
NOI $52,440 @ 7.0% cap · market cap 9.53%
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
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
830
Businesses Nearby
Explore this area
Business Placement
Demographics for 55416, MN
34,129
Population
19,197
Households
1.8
Avg Household Size
36
Median Age
73%
College-Educated
98%
High-School Grad
7.3 sq mi
ZIP Area
4,675
Density / Sq Mi
$105,926
Median Household Income
$70,993
Median Earnings
$1,701
Median Rent
$457,300
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 Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office units - Office units at 6213-6217 West Lake Street with direct street frontage and quick access to major highways.
Where is this office units located?
The property is located at 6213-6217 Lake St W St Louis Park, MN.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Office units at 6213‑6217 West Lake Street with direct street frontage on West Lake Street; Quick access to MN‑7, MN‑100, MN‑62, and I‑394; Located in Saint Louis Park’s West Lake Street area, near the West End market cluster
