Design-Forward Multifamily Apartment
For Sale
$5,700,000
907 Winter St NE, Minneapolis, MN 55413
Curated multifamily community with all-electric systems and solar to help reduce operating expenses.
Property Size25,053 SF
Days on Market95
Property Features for 907 Winter St NE
General Information
Standard status
Active
Size
25,053 SF
Property subtype
Multifamily
Additional Details
Multifamily Units
20
Building Details
Building Size
25,053 SF
Year Built
2020
Tenancy
Multi
Listed By:
Cody Smith
(651) 353-3657
Source:
Kisergroup
Added: Jun 1
Changed: Sep 2
Last Checked: Sep 2 at 2:31PM
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 Cody Smith
Investment Insights
Based on property information with market context.
The Pines Northeast is a design-forward multifamily asset featuring modern, high-end finishes and layouts intended to appeal to a broad range of renters. The property combines a curated, contemporary approach with suburban comfort while keeping urban proximity in mind. Unit mix includes 11 three-bedroom, two-bath homes, eight two-bedroom, one-bath homes, and one one-bedroom, one-bath home, supporting varied household needs within a single community. All-electric systems and solar are in place to help reduce operating expenses, and the overall design and amenities focus on strengthening tenant retention.
Located in Northeast Minneapolis, the property is positioned within a highly desirable and culturally vibrant submarket. The offering highlights strong local demand and limited new supply, factors that can matter for investors and operators evaluating long-term performance. The combination of differentiated design and modern construction is presented as a key advantage, with an emphasis on minimizing near-term capital expenditures.
For tenants, the community’s high-end interiors and thoughtful unit configurations are designed to match lifestyle expectations across multiple demographic segments. For buyers, this is framed as a rare acquisition opportunity in a tight supply environment, with premium rents supported by the property’s finishes and layouts. For operators, the all-electric and solar approach, along with modern building systems, may help support more predictable operating costs and lower immediate reinvestment needs.
Located in Northeast Minneapolis, the property is positioned within a highly desirable and culturally vibrant submarket. The offering highlights strong local demand and limited new supply, factors that can matter for investors and operators evaluating long-term performance. The combination of differentiated design and modern construction is presented as a key advantage, with an emphasis on minimizing near-term capital expenditures.
For tenants, the community’s high-end interiors and thoughtful unit configurations are designed to match lifestyle expectations across multiple demographic segments. For buyers, this is framed as a rare acquisition opportunity in a tight supply environment, with premium rents supported by the property’s finishes and layouts. For operators, the all-electric and solar approach, along with modern building systems, may help support more predictable operating costs and lower immediate reinvestment needs.
Key Highlights
- Built in 2020: modern multifamily community with 11 total units
- All‑electric systems plus solar to help reduce operating expenses
- Unit mix: 11 three‑bedroom/2‑bath units
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
$336,204
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
5.90%
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%
$6,724,080
$6.7M
Cap Rate 7%
$4,802,914
$4.8M
Cap Rate 9%
$3,735,600
$3.7M
Market Conditions
NOI Build-Up for 25,053 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
$652.4K $26.04/SF
− Vacancy
−$41.1K −$1.64/SF
EGI
$611.3K $24.40/SF
− OpEx
−$275.1K −$10.98/SF
NOI
$336.2K $13.42/SF
Area
Minneapolis, MN
Vacancy
6.30%
Lease Rate
$26.04 /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%
$6,724,080
Cap Rate 7%
$4,802,914
Cap Rate 9%
$3,735,600
Alternative Uses
Best Use
Apartment 5plus
$4.80M
$4.20M – $5.60M
NOI $336,204 @ 7.0% cap · market cap 5.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.98M
$5.23M – $6.97M
NOI $418,399 @ 7.0% cap · market cap 7.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,346
Businesses Nearby
Explore this area
Business Placement
Demographics for 55413, MN
13,914
Population
8,080
Households
1.7
Avg Household Size
34
Median Age
58%
College-Educated
95%
High-School Grad
3.1 sq mi
ZIP Area
4,488
Density / Sq Mi
$84,252
Median Household Income
$57,091
Median Earnings
$1,497
Median Rent
$354,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Curated multifamily community with all-electric systems and solar to help reduce operating expenses.
Where is this apartment building located?
The property is located at 907 Winter St NE Minneapolis, MN.
What is the asking price?
The asking price for this property is $5,700,000.
What are key features of this property?
This property features: Built in 2020: modern multifamily community with 11 total units; All‑electric systems plus solar to help reduce operating expenses; Unit mix: 11 three‑bedroom/2‑bath units
