Medical Office
6311 Wayzata Boulevard, Saint Louis Park, MN 55416
For Sale
$2,799,000
Commercial Sale, Saint Louis Park, MN
Property Size15,078 SF
Lot Size0.72 Acres
Price / SF$185.63
Days on Market47
Property Features for 6311 Wayzata Boulevard
General Information
Property type
Property subtype
Zoning description
Window features
Subdivision
Lot features
High school district
Directions
Standard status
APN
Lot size
Additional Details
Property Use
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Cooling system
Building Details
Year built
Roof type
Listing Agency:
RE/MAX Advantage Plus · RE/MAX International
Listed By:
Mark P. Abdel
(952) 226-7700
Added: Sep 25
Changed: Nov 9
Last Checked: Nov 10 at 10:06AM
MLS# 7146891
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.
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Investment Insights
Based on property information with market context.
At 6311 Wayzata Boulevard, this medical office property contains approximately 15,078 square feet on a 0.72-acre site. The building dates to 1963 and has central air conditioning and a flat roof. Its flexible office layout is described as suitable for medical, healthcare, professional, and business uses, with approximately 50 parking spaces on site.
The property is in the I-394 commercial corridor, with connections to I-394 and Highway 100. The surrounding area includes businesses, restaurants, retail destinations, residential neighborhoods, and other amenities. Minneapolis and western suburbs are accessible from this location.
The property is in the I-394 commercial corridor, with connections to I-394 and Highway 100. The surrounding area includes businesses, restaurants, retail destinations, residential neighborhoods, and other amenities. Minneapolis and western suburbs are accessible from this location.
Key Highlights
- Approximately 15,078 square feet on a 0.72‑acre site
- Approximately 50 on‑site parking spaces
- Located along Wayzata Boulevard in the I‑394 commercial corridor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$230,042
Cap Rate
8.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,600,840
$4.6M
Cap Rate 7%
$3,286,314
$3.3M
Cap Rate 9%
$2,556,022
$2.6M
Market Conditions
NOI Build-Up for 15,078 SF
Gross rent
$470.4K $31.20/SF
− Vacancy
−$87.0K −$5.77/SF
EGI
$383.4K $25.43/SF
− OpEx
−$153.4K −$10.17/SF
NOI
$230.0K $15.26/SF
Area
Hennepin County, MN
Vacancy
18.50%
Lease Rate
$31.20 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,600,840
Cap Rate 7%
$3,286,314
Cap Rate 9%
$2,556,022
Alternative Uses
Best Use
Healthcare Medical
$3.29M
$2.88M – $3.83M
NOI $230,042 @ 7.0% cap · market cap 8.22%
Second Best
Office B
$2.67M
$2.34M – $3.12M
NOI $187,033 @ 7.0% cap · market cap 6.68%
Theoretical Best
Office A
$3.60M
$3.15M – $4.20M
NOI $251,811 @ 7.0% cap · market cap 9.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,722
Businesses Nearby
Under-served
Demand for This Use
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Similar Off Market Nearby
- Banfield Pet Hospital — 5640 Cedar Lk Rd S, St Louis Park, MN 55416
Frequently Asked Questions
What type of property is this?
Medical Office Space - A 0.72-acre site and on-site parking support a substantial office property along Wayzata Boulevard.
Where is this medical office space located?
The property is located at 6311 Wayzata Boulevard Saint Louis Park, MN.
What is the asking price?
The asking price for this property is $2,799,000.
What are key features of this property?
This property features: Approximately 15,078 square feet on a 0.72‑acre site; Approximately 50 on‑site parking spaces; Located along Wayzata Boulevard in the I‑394 commercial corridor
