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    Downtown Minneapolis Restaurant Ready Space Title is generated by Realmo AI

    86 South 9th Street, Minneapolis, MN 55402

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    Second-generation restaurant space in bustling downtown Minneapolis.

    Type:Retail
    Property size:
    22,693 SF
    Added:
    Sep 12, 2025
    Days on Market:
    252
    Last Refresh:
    Apr 5 at 10:19 pm

    Property Features for 86 South 9th Street

    General Information

    Standard status
    Active
    Size
    22,693 SF
    Property subtype
    Retail

    Spaces For Lease

    at 86 South 9th Street Contact us

    We can help!

    Listing Contact
    Brady Whalen

    Listing agent Brady Whalen License #0790719

    Listing office REAL

    Listing date Sep 12, 2025

    Source Midamericagrp

    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 REAL

    HighLights

    • Second‑generation restaurant space significantly reduces build‑out costs with existing equipment available.
    • Prime downtown Minneapolis location within the Metro Apartment building, guaranteeing high foot traffic.
    • Skyway connection and parking ramp access provide convenient accessibility for customers.
    • Located near major landmarks like the IDS Center, Foshay Tower, and Nicollet Mall.
    • Benefits from co‑tenancy with established restaurants like Hell's Kitchen and The Melting Pot.
    • Close proximity to major retailers like Target and renowned dining establishments.

    Overview

    Located in downtown Minneapolis within the Metro Apartment building, this second-generation restaurant space presents an opportunity for a restaurant. The space is situated on the ground level and is skyway connected. A parking ramp is available for vehicle traffic. Existing equipment, including a hood system, flat top, and fryers, are in place and available for sale by the owner. The property is near the IDS Center, Foshay Tower, and Nicollet Mall. Area retailers include Target, Manny’s Steakhouse, and Ruth’s Chris Steakhouse. Other co-tenants in the building include Hell's Kitchen, the Melting Pot, and Jimmy John's. The property's location offers proximity to dining destinations.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Hell's Cafeteria Restaurant

    Suggested Use

    Real Estate Agency Spa & Massage Center Restaurant Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Nosh and Gather — 1200 S Marquette Ave, Minneapolis, MN 55403
    • Kelber Catering Inc — 1301 2nd Ave S, Minneapolis, MN 55403
    • La Belle Crepe Catering — 825 Nicollet Mall suite 100, Minneapolis, MN 55402
    • Monona Catering LLC — 1301 2nd Ave S, Minneapolis, MN 55404
    • Midwest Catering — 1200 2nd Ave S 4th floor, Minneapolis, MN 55403

    Location Insight

    • Map
    • Local Demand
    City
    Minneapolis
    County
    Anoka
    State
    Minnesota
    Longitude
    -93.2727
    Latitude
    44.9748

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    FAQs

    What type of property is this?
    Restaurant - Second-generation restaurant space in bustling downtown Minneapolis.
    Where is this restaurant located?
    The property is located at 86 South 9th Street Minneapolis, MN.
    What are key features of this property?
    This property features: Second‑generation restaurant space significantly reduces build‑out costs with existing equipment available.; Prime downtown Minneapolis location within the Metro Apartment building, guaranteeing high foot traffic.; Skyway connection and parking ramp access provide convenient accessibility for customers.
    (952) 563-6656
    We can help!
    Listing Contact
    Brady Whalen
    Real Estate License ID: 0790719
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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