Renovated North Loop Live/Work
For Sale
Contact for pricing
700 N Washington Ave, Minneapolis, MN
Spacious, renovated live/work space in the North Loop.
Property Size1,480 SF
Lot Size1.11 Acres
Price / SF$287.16
Days on Market1079
Property Features for 700 N Washington Ave
General Information
Standard status
Active
Size
1,480 SF
Lot size
1.11 Acres
Property subtype
OFFICE
Lease Type
Gross
Properties For Sale
at 700 N Washington Ave Contact us- Size
- 1,480 SF
- Type
- OFFICE
- Lease Type
- GROSS_LEASE
- Availability
- AVAILABLE, Now
- Sublease
- No
Tower Lofts Office Condo
North Loop in this renovated, spacious Tower Lofts 2nd Floor live/work space! A...
show more
Contact us
Listing Agency:
Stack Industrial Partners
(612) 359-1658
Listed By:
Alex Baron
(612) 359-1658
Source:
Moodyscre
Added: Sep 6, 2023
Changed: Aug 8
Last Checked: Aug 19 at 1:25PM
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 Stack Industrial Partners
Investment Insights
Based on property information with market context.
Located in the North Loop, this renovated, spacious live/work space is situated on the 2nd floor of Tower Lofts. Zoned for both living and business use, this residence offers approximately 1480 square feet of living space. Features include original warehouse concrete flooring, 14-foot ceilings, brick exterior walls, and large windows that connect to Washington Avenue with western exposure.
Key Highlights
- Zoned for both living and business use (live/work space)
- Spacious: Nearly 1500 Square Feet
- Prime North Loop location on Washington Ave
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
$16,706
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
3.93%
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%
$334,120
$334.1K
Cap Rate 7%
$238,657
$238.7K
Cap Rate 9%
$185,622
$185.6K
Market Conditions
NOI Build-Up for 1,480 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
$27.5K $18.60/SF
− Vacancy
−$798 −$0.54/SF
EGI
$26.7K $18.06/SF
− OpEx
−$10.0K −$6.77/SF
NOI
$16.7K $11.29/SF
Area
Minneapolis, MN
Vacancy
2.90%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
37.50%
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%
$334,120
Cap Rate 7%
$238,657
Cap Rate 9%
$185,622
Alternative Uses
Best Use
Mixed Use
$238.7K
$208.8K – $278.4K
NOI $16,706 @ 7.0% cap · market cap 3.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$353.1K
$309.0K – $412.0K
NOI $24,717 @ 7.0% cap · market cap 5.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,100
Businesses Nearby
Explore this area
Business Placement
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Live-work space - Spacious, renovated live/work space in the North Loop.
Where is this live-work space located?
The property is located at 700 N Washington Ave Minneapolis, MN.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Zoned for both living and business use (live/work space); Spacious: Nearly 1500 Square Feet; Prime North Loop location on Washington Ave
