Furnished Office
New
For Sale
$1,250,000
718 Washington Avenue N #301, Minneapolis, MN 55401
The workplace comes equipped with desks, meeting rooms, conference rooms, a kitchen, a bathroom, and a shower.
Property Size5,334 SF
Price / SF$234.35
Days on Market3
Property Features for 718 Washington Avenue N #301
General Information
Standard status
Active
Size
5,334 SF
Net Rentable
5,334 SF
Property subtype
Commercial
Zoning
Business/Commercial
Space & Availability
Condition
Turnkey
Furnished
Yes
Site & Location
Neighborhood
North Loop
Additional Details
Asking Price
$1,250,000
Property Use
Office
Taxes and HOA fees
Annual Taxes
$10,537
Amenities
kitchen
bathroom
shower
meeting rooms
conference rooms
Building Details
Year Built
1922
Units
1
Listing Agency:
Edina Realty, Inc.
Listed By:
Joshua Sanderson
(949) 439-8425
Source:
Getyoumoved
Added: Oct 22
Changed: Oct 24
Last Checked: Oct 23 at 3:31PM
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 Edina Realty, Inc.
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Investment Insights
Based on property information with market context.
This 5,334 RSF office suite at 718 Washington Avenue N #301 is offered furnished, with 28 desks, team tables, private meeting and call rooms, and three large conference rooms. A kitchen, bathroom, and shower are also part of the buildout. The building dates to 1922, and the property is zoned Business/Commercial.
The suite is in Minneapolis’ North Loop. The current occupant is prepared to lease the space back for three years or longer, for one consistent day each week.
The suite is in Minneapolis’ North Loop. The current occupant is prepared to lease the space back for three years or longer, for one consistent day each week.
Key Highlights
- 5,334 RSF furnished office suite
- 28 desks and team tables included
- Three large conference rooms, plus private meeting and call rooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$66,657
Cap Rate
5.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,333,140
$1.3M
Cap Rate 7%
$952,243
$952.2K
Cap Rate 9%
$740,633
$740.6K
Market Conditions
NOI Build-Up for 5,334 SF
Gross rent
$111.4K $20.88/SF
− Vacancy
−$22.5K −$4.22/SF
EGI
$88.9K $16.66/SF
− OpEx
−$22.2K −$4.17/SF
NOI
$66.7K $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 Rate 5%
$1,333,140
Cap Rate 7%
$952,243
Cap Rate 9%
$740,633
Alternative Uses
Best Use
Office B
$952.2K
$833.2K – $1.11M
NOI $66,657 @ 7.0% cap · market cap 5.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $89,081 @ 7.0% cap · market cap 7.13%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
3,983
Businesses Nearby
Explore this area
Business Placement
Demographics for 55401, MN
12,029
Population
8,988
Households
1.3
Avg Household Size
35
Median Age
79%
College-Educated
99%
High-School Grad
0.8 sq mi
ZIP Area
15,036
Density / Sq Mi
$115,651
Median Household Income
$89,599
Median Earnings
$2,010
Median Rent
$401,500
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
Frequently Asked Questions
What type of property is this?
Office unit - The workplace comes equipped with desks, meeting rooms, conference rooms, a kitchen, a bathroom, and a shower.
Where is this office unit located?
The property is located at 718 Washington Avenue N #301 Minneapolis, MN.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 5,334 RSF furnished office suite; 28 desks and team tables included; Three large conference rooms, plus private meeting and call rooms
