Office Condo with
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For Sale
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8957 Aztec Dr, Eden Prairie, MN 55347
A private office suite combines enclosed workrooms, shared support areas, and direct access to an outdoor patio.
Property Size2,400 SF
Price / SF$200
Days on Market3
Property Features for 8957 Aztec Dr
General Information
Standard status
Active
Size
2,400 SF
Property subtype
OFFICE
Zoning
Office Orientated District
Additional Details
HOA Fee
$608.91
Highway Access
Yes
Office Units
1
Building Details
Year Built
2001
Listing Agency:
Arrow Real Estate Corp.
(763) 424-6355
Listed By:
Chad Weeks
(612) 619-9911
Source:
Moodyscre
Added: Sep 22
Changed: Sep 24
Last Checked: Sep 24 at 2:43PM
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 Arrow Real Estate Corp.
Investment Insights
Based on property information with market context.
This 2,400-square-foot office condominium, built in 2001, is configured with seven private offices, a kitchenette, a conference room, men’s and women’s restrooms, and a large open work area. Two sliding doors connect the suite to a rear patio. The property is in Aztec Town Office Park and is designated within an Office Orientated District.
Access to Hwy. 494 and Hwy. 169 is available from the office park, with parking on site.
Access to Hwy. 494 and Hwy. 169 is available from the office park, with parking on site.
Key Highlights
- 2,400 SF office condominium built in 2001
- Seven private offices, conference room, kitchenette, and large open office area
- Men’s and women’s restrooms
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
$28,500
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
5.94%
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%
$570,000
$570.0K
Cap Rate 7%
$407,143
$407.1K
Cap Rate 9%
$316,667
$316.7K
Market Conditions
NOI Build-Up for 2,400 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
$52.7K $21.96/SF
− Vacancy
−$14.7K −$6.13/SF
EGI
$38.0K $15.83/SF
− OpEx
−$9.5K −$3.96/SF
NOI
$28.5K $11.87/SF
Area
Hennepin County, MN
Vacancy
27.90%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
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%
$570,000
Cap Rate 7%
$407,143
Cap Rate 9%
$316,667
Alternative Uses
Best Use
Office B
$407.1K
$356.3K – $475.0K
NOI $28,500 @ 7.0% cap · market cap 5.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$572.6K
$501.0K – $668.0K
NOI $40,081 @ 7.0% cap · market cap 8.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
345
Businesses Nearby
Explore this area
Business Placement
Demographics for 55347, MN
31,222
Population
12,143
Households
2.6
Avg Household Size
42
Median Age
67%
College-Educated
98%
High-School Grad
16.9 sq mi
ZIP Area
1,847
Density / Sq Mi
$152,850
Median Household Income
$83,338
Median Earnings
$2,020
Median Rent
$493,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office units - A private office suite combines enclosed workrooms, shared support areas, and direct access to an outdoor patio.
Where is this office units located?
The property is located at 8957 Aztec Dr Eden Prairie, MN.
What is the asking price?
The asking price for this property is $480,000.
What are key features of this property?
This property features: 2,400 SF office condominium built in 2001; Seven private offices, conference room, kitchenette, and large open office area; Men’s and women’s restrooms
