Two-Level Apartment
For Sale
$999,950
752 Southview Dr, Anoka, MN 55303
Fully rented property with updated mechanical systems, garage stalls, and tenant storage lockers.
Property Size6,656 SF
Lot Size0.47 Acres
Price / SF$150.23
Days on Market32
Property Features for 752 Southview Dr
General Information
Standard status
Active
Size
6,656 SF
Total Parking Spaces
7
Lot size
0.47 Acres
Property subtype
Multifamily
Zoning
R-1
Occupancy
100%
Units
Unit Mix
6 x 2BR, 2 x 3BR
Multifamily Units
8
Additional Details
Utilities to Site
Yes
Amenities
on-site laundry
storage lockers
Building Details
Building Size
6,656 SF
Year Built
1963
Stories
2
Tenancy
Multi
Listing Agency:
Results Commercial
(651) 755-2068
Listed By:
Mark Hulsey · License #40169559
Source:
Resultscommercial
Added: Jul 30
Changed: Aug 29
Last Checked: Jul 9 at 3:27AM
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 Results Commercial
Investment Insights
Based on property information with market context.
This two-level apartment property at 752 Southview Dr in Anoka includes 8 units: six two-bedroom apartments and two three-bedroom apartments. The 6,656-square-foot building occupies 0.47 acres and was built in 1963. Interior and exterior areas are described as being in good condition, with a roof approximately 10 years old and a new boiler installed in 2022.
The property is fully rented on month-to-month leases, with tenants responsible for electric service. Eight electrical meters and one house meter support the building’s utility configuration. On-site features include 7 garage stalls, on-street parking, tenant storage lockers, two washers, and two dryers owned by the seller. The property is zoned R-1 and includes a longtime caretaker.
The property is fully rented on month-to-month leases, with tenants responsible for electric service. Eight electrical meters and one house meter support the building’s utility configuration. On-site features include 7 garage stalls, on-street parking, tenant storage lockers, two washers, and two dryers owned by the seller. The property is zoned R-1 and includes a longtime caretaker.
Key Highlights
- 8‑unit apartment property with six 2‑bedroom units and two 3‑bedroom units
- 6,656 SF building on 0.47 acres; built in 1963
- Fully rented with month‑to‑month leases; tenants pay electric
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
$75,965
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
7.60%
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%
$1,519,300
$1.5M
Cap Rate 7%
$1,085,214
$1.1M
Cap Rate 9%
$844,056
$844.1K
Market Conditions
NOI Build-Up for 6,656 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
$148.6K $22.32/SF
− Vacancy
−$10.4K −$1.57/SF
EGI
$138.1K $20.75/SF
− OpEx
−$62.2K −$9.34/SF
NOI
$76.0K $11.41/SF
Area
Anoka County, MN
Vacancy
7.03%
Lease Rate
$22.32 /SF/Yr
Expense Ratio
45.00%
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%
$1,519,300
Cap Rate 7%
$1,085,214
Cap Rate 9%
$844,056
Alternative Uses
Best Use
Apartment 5plus
$1.09M
$949.6K – $1.27M
NOI $75,965 @ 7.0% cap · market cap 7.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.85M
$1.62M – $2.16M
NOI $129,418 @ 7.0% cap · market cap 12.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
821
Businesses Nearby
Explore this area
Business Placement
Demographics for 55303, MN
51,480
Population
20,317
Households
2.5
Avg Household Size
38
Median Age
31%
College-Educated
96%
High-School Grad
64.4 sq mi
ZIP Area
799
Density / Sq Mi
$101,351
Median Household Income
$54,788
Median Earnings
$1,348
Median Rent
$338,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Fully rented property with updated mechanical systems, garage stalls, and tenant storage lockers.
Where is this apartment building located?
The property is located at 752 Southview Dr Anoka, MN.
What is the asking price?
The asking price for this property is $999,950.
What are key features of this property?
This property features: 8‑unit apartment property with six 2‑bedroom units and two 3‑bedroom units; 6,656 SF building on 0.47 acres; built in 1963; Fully rented with month‑to‑month leases; tenants pay electric
