Eight-Unit Apartment
For Sale
$999,950
Pending
752 Southview Drive, Anoka, MN 55303
Commercial Sale, Anoka, MN
Property Size6,656 SF
Lot Size0.47 Acres
Days on Market55
Property Features for 752 Southview Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Residential-Multi-Family
Parking features
Garage - Detached, Parking Lot, Driveway
Exterior features
Stucco
Appliances
Cooktop, Range, Refrigerator
Subdivision
Carlson & Kings So View Terrace
High school district
Anoka-Hennepin
Directions
East River Road to 7th, north to Southview.
Standard status
Pending
APN
073124420017
Lot size
0.47 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
13157
Utilities
Heating system
Oil
Amenities
on-site tenant storage lockers
washer/dryer
Building Details
Year built
1963
Building materials
Brick
Listing Agency:
RE/MAX Results · RE/MAX International
(651) 251-4800
Listed By:
Mark K Hulsey · License #40169559
(952) 829-2900
Added: Jul 7
Changed: Aug 27
Last Checked: Aug 30 at 9:06AM
MLS# 7105578
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.
Investment Insights
Based on property information with market context.
This two-level apartment property contains 8 units totaling 6,656 SF on 0.47 acres. The unit mix includes six two-bedroom apartments and two three-bedroom apartments. The building was constructed in 1963 and is described as being in good interior and exterior condition, with a roof approximately 10 years old. A new boiler was installed in 2022, and the property includes 8 electrical meters plus 1 house meter.
Residents have access to 7 detached garage stalls, a parking lot, driveway parking, on-street parking, and storage lockers. The property also includes 2 seller-owned washers and 2 dryers. R-1 zoning applies, leases are month to month, and tenants pay electric. Schools, parks, and restaurants are identified as accessible from the property.
Residents have access to 7 detached garage stalls, a parking lot, driveway parking, on-street parking, and storage lockers. The property also includes 2 seller-owned washers and 2 dryers. R-1 zoning applies, leases are month to month, and tenants pay electric. Schools, parks, and restaurants are identified as accessible from the property.
Key Highlights
- 8‑unit apartment property with six 2‑bedroom and two 3‑bedroom units
- 6,656 SF building on 0.47 acres
- 7 garage stalls plus parking lot, driveway, on‑street parking, and tenant storage lockers
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
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 occupied multifamily property with a two-level layout, detached garages, tenant storage, and updated heating equipment.
Where is this apartment building located?
The property is located at 752 Southview Drive 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 and two 3‑bedroom units; 6,656 SF building on 0.47 acres; 7 garage stalls plus parking lot, driveway, on‑street parking, and tenant storage lockers
