Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Retail Space in Richfield Title is generated by Realmo AI

    6501-6545 Nicollet Ave S, Richfield, MN

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail space in the heart of Richfield retail area.

    Type:OFFICE
    Property size:
    3,911 SF
    Lot size:
    3.24 Acres
    Added:
    Jan 26, 2018
    Days on Market:
    3037
    Last Refresh:
    Apr 5 at 8:17 pm

    Property Features for 6501-6545 Nicollet Ave S

    General Information

    Standard status
    Active
    Size
    3,911 SF
    Lot size
    3.24 Acres
    Property subtype
    OFFICE

    Spaces For Lease

    at 6501-6545 Nicollet Ave S Contact us

    We can help!

    Listing Contact
    Bryce Thompson
    Bryce Thompson

    Listing agent Bryce Thompson

    Listing office Mid-America Real Estate-Minnesota LLC

    Listing date Jan 26, 2018

    Source Moodyscre

    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 Mid-America Real Estate-Minnesota LLC

    HighLights

    • Heart of Richfield retail location
    • High visibility at a roundabout intersection
    • Over 124,000 residents within 3 miles
    • Join established tenants: Tous Les Jours, La Michicana Tasty, Subway
    • Great visibility

    Overview

    This retail space is located in the heart of Richfield retail area. The property is situated at a roundabout intersection, offering great visibility. Join tenants such as Tous Les Jours, La Michicana Tasty, and Subway. The surrounding area has over 124,000 residents within a 3-mile radius. The property has a size of 3911 square feet.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Map

    City
    Richfield
    County
    Hennepin
    State
    Minnesota
    Longitude
    -93.2835
    Latitude
    44.8736

    Nearby Similar for Lease

    • Contact for pricing
      115,500 SF

      Retail Space in Edina Trade

      Retail space in strong Edina trade area near France Avenue.
      2900-3020 W 66th Street, Richfield, MN 55423
      View Details
    • Contact for pricing

      High Visibility Retail Space

      Retail space with high visibility and profile.
      1700 East 66th Street | Richfield, MN 55423
      View Details
    • $10 SF/Yr
      246 SF

      Richfield Retail and Office Space

      Retail and office spaces in central Richfield location.
      2321-2323 W 66th St, Richfield, MN
      View Details
    • Contact for pricing
      14,000 SF

      Retail Space in Edina Trade

      Retail space in a well-connected, highly visible Edina location.
      2900-2950 W 66th St, Richfield, MN
      View Details
    • Contact for pricing
      1,943 SF

      Restaurant Space with Patio

      Restaurant space available with high visibility and strong co-tenancy.
      1700-1732 66th St E , Richfield, MN
      View Details
    • Contact for pricing
      1,500 SF

      Retail Space in Richfield Center

      Retail space in a three-building retail center in Richfield.
      6545-6555 Lyndale Ave S, Richfield, MN
      View Details
    • $15 SF/Yr
      5,578 SF

      Richfield Office Space For Rent

      Office space with great visibility and access in Richfield.
      6636 S Cedar Ave, Richfield, MN
      View Details
    • $20 SF/Yr
      5,612 SF

      Richfield Office Space Available

      Office space for rent in Richfield, Minnesota.
      6601 Lyndale Ave S, Richfield, MN
      View Details
    • $18 SF/Yr
      5,956 SF

      Office Space with Atrium

      Office space with convenient location and on-site amenities.
      6625 Lyndale Ave S, Richfield, MN
      View Details
    • $23 SF/Yr
      300,000 SF

      Move-in Ready LEED Certified Office

      Office space with amenities in booming Minneapolis suburb.
      7601 Penn Ave S, Richfield, MN
      View Details
    • $31 SF/Yr
      4,042 SF

      Class A Office Campus Setting

      Two Class A buildings totaling 397,000 RSF for single tenant.
      2 Meridian Crossings, Richfield, MN
      View Details
    • $31 SF/Yr
      27,331 SF

      Class A Office Campus Setting

      Two Class A buildings totaling 383,000 RSF for single tenant.
      1 Meridian Crossings, Richfield, MN
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail space in the heart of Richfield retail area.
    Where is this retail space located?
    The property is located at 6501-6545 Nicollet Ave S Richfield, MN.
    What are key features of this property?
    This property features: Heart of Richfield retail location; High visibility at a roundabout intersection; Over 124,000 residents within 3 miles
    (612) 355-0751 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Bryce Thompson
    Bryce Thompson
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    6501-6545 Nicollet Ave S, Richfield, MN
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!