Stand-Alone Office Building in
800 N 42nd Ave / 4217 Aldrich Ave N Minneapolis, MN 55412
For Sale
Contact for pricing
Centrally located office building with signage opportunity in Camden neighborhood.
Property Size5,100 SF
Price / SF$231.37
Days on Market655
Property Features for 800 N 42nd Ave / 4217 Aldrich Ave N
General Information
- Standard status
- Active
- Size
- 5,100 SF
- Property subtype
- Office
Building Details
- Year Built
- 1937
Listing Agency:
Gramercy Real Estate Group
(415) 582-0001
Listed By:
Joshua Keller · License #MN 40050504
Source:
Crexi
Added: Oct 11, 2024
Changed: Jul 10
Last Checked: Jul 26 at 1:36PM
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 Gramercy Real Estate Group
Investment Insights
Based on property information with market context.
This stand-alone, two-story office building is centrally located at the top of a hill on a corner lot in the Camden neighborhood. The property, zoned CM2, offers a signage opportunity for an owner or tenant. It is situated close to major employers, highways, downtown, housing, and public transportation. Previously operating as an office building, it features 18 offices, four bathrooms, and kitchens on both floors. There are also four large meeting rooms. Parking includes three off-street spaces, plus a 13-car parking lot on a separate parcel. Ample windows provide natural light, creating a work environment. The property is currently set up for a single user. Zoned commercial with add-on, or development.
Key Highlights
- Centrally located stand‑alone office building on a corner lot in Camden neighborhood.
- Zoned CM2, allowing for add‑on or development.
- 13‑car parking lot as a separate parcel, plus three off‑street parking spaces.
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $106.5k | $20.88 |
| − Vacancy | −$21.5k | −$4.22 |
| EGI | $85.0k | $16.66 |
| − OpEx | −$21.2k | −$4.17 |
| NOI | $63.7k | $12.50 |
5,100 SF · lease $20.88/SF/yr · vacancy 20.20% · expense 25.00%
Alternative Uses
Best Use
Office B
$910.5K
$796.7K – $1.06M
NOI $63,733 @ 7.0% cap · market cap 5.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.22M
$1.06M – $1.42M
NOI $85,173 @ 7.0% cap · market cap 7.22%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
H P 37
Construction Company
FAQs
What type of property is this?
Office building - Centrally located office building with signage opportunity in Camden neighborhood.
Where is this office building located?
The property is located at 800 N 42nd Ave / 4217 Aldrich Ave N Minneapolis, MN.
What is the asking price?
The asking price for this property is $1,180,000.
What are key features of this property?
This property features: Centrally located stand‑alone office building on a corner lot in Camden neighborhood.; Zoned CM2, allowing for add‑on or development.; 13‑car parking lot as a separate parcel, plus three off‑street parking spaces.
