Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    908 Centennial Pl Minneapolis, MN 55404-1343

    • Commercial land
    • 0.40 lot acres
    OFF-MARKET
    Last Sale
    Apr 02, 2025
    $2,228,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US46-0600256
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • 908 Centennial Pl Parking / Parking Lot

    Property Details for 908 Centennial Pl

    Year built
    1930
    Lot size
    0.40 lot acres
    Zone code
    B4N
    Property type
    Commercial land
    APN
    26-029-24-23-0040
    APU
    2602924230040

    Description

    This exceptional commercial land offering consists of two parcels totaling 0.6 acres, strategically located in Minneapolis, Minnesota, at 900 and 908 Centennial Place, zip code 55404. The property is zoned DT1, presenting significant development potential. Parcel 900 Centennial Pl (Lot K) encompasses 0.4 acres, while the adjacent parcel at 908 Centennial Pl (Lot K) comprises 0.2 acres. These lots are being sold together as a single unit for a combined asking price of $2,200,000. It's important to note that this listing is contingent upon the simultaneous purchase of a separate property located at 800 10th St South, Minneapolis, listed separately at $1,550,000. The combined purchase price for both properties is $3,750,000. This combined offering presents a unique opportunity for large-scale development in a vibrant downtown Minneapolis location. The Hennepin County address provides easy access to major transportation routes and amenities. Serious inquiries only.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Minneapolis
    County
    Hennepin
    State
    Minnesota
    Longitude
    -93.2637
    Latitude
    44.9702
    CBSA code
    33460
    CBSA name
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $413
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      0.09 Acres

      2111 Oakland Ave

      VACANT COMMERCIAL LAND • 0.09 Acres
      2111 Oakland Ave, Minneapolis, MN 55404
      View Details
    • Value Estimation by Request
      0.15 Acres

      1904 Chicago Ave

      VACANT COMMERCIAL LAND • 0.15 Acres
      1904 Chicago Ave, Minneapolis, MN 55404-1903
      View Details
    • Value Estimation by Request
      0.17 Acres

      1412 Chicago Ave

      VACANT COMMERCIAL LAND • 0.17 Acres
      1412 Chicago Ave, Minneapolis, MN 55404-1321
      View Details
    • Value Estimation by Request
      0.05 Acres

      825 Cedar S Ave

      VACANT COMMERCIAL LAND • 0.05 Acres
      825 Cedar S Ave, Minneapolis, MN 55404-2219
      View Details
    • Value Estimation by Request
      0.14 Acres

      724 15th E St

      VACANT COMMERCIAL LAND • 0.14 Acres
      724 15th E St, Minneapolis, MN 55404
      View Details
    • Value Estimation by Request
      0.07 Acres

      716 15th E St

      VACANT COMMERCIAL LAND • 0.07 Acres
      716 15th E St, Minneapolis, MN 55404
      View Details

    Similar Nearby for Sale

    • $2,850,000
      12,671 SF

      Park Avenue Land and Building

      Land and building totaling 1.40 acres available for sale.
      2722-2742 Park Ave, Minneapolis, MN 55404
      View Details
    • Contact for pricing

      Minneapolis Redevelopment Opportunity

      Land available for multi-family mixed-use development near Midtown Greenway.
      2825 Cedar Ave S, Minneapolis, MN 55404
      View Details
    • $1,950,000
      23,000 SF

      Minneapolis Office Building For Sale

      Office building with 23,000 square feet of space.
      2118 Blaisdell Ave S, Minneapolis, MN 55404
      View Details
    • $1,759,999
      0.57 Acres

      Prime Minneapolis Commercial Land

      Redevelop into apartments or condos.
      2111-2113 Chicago Ave, Minneapolis, MN 55404
      View Details
    • $499,900
      6,206 SF

      Prime Minneapolis Mixed-Use Building

      High-yield investment, flexible zoning.
      2221 15Th Ave, Minneapolis, MN 55404
      View Details
    • $424,900
      3,904 SF

      South Minneapolis Auto Body Shop

      Auto body shop with drive-in doors and paint booths.
      4261 Chicago Ave, Minneapolis, MN 55404
      View Details

    Similar Nearby for Lease

    • $29 SF/Yr
      4,886 SF

      Prime Minneapolis Executive Suites

      Modern Office Space, 3 Suites Available
      122 Franklin Ave, Minneapolis, MN 55404
      View Details
    • $24 SF/Yr
      5,013 SF

      Office Space Near Downtown Minneapolis

      Move-in ready office space with natural light and parking.
      2400 Park Ave, Minneapolis, MN 55404
      View Details
    • Contact for pricing
      6,360 SF

      Prime Retail Space Available

      Shell spaces in Mill District with high visibility.
      205 Park Ave, Minneapolis, MN 55404
      View Details
    • Contact for pricing
      15,157 SF

      Office and Medical Space Available

      Office and medical space for rent near hospitals.
      910 E 26Th St, Minneapolis, MN 55404
      View Details
    • $12 SF/Yr
      1,498 SF

      Retail/Studio Space with Garage Door

      Street-facing retail/studio space featuring a glass overhead garage door.
      1915 E 22Nd St, Minneapolis, MN 55404
      View Details
    • Contact for pricing
      13,000 SF

      Retail Space in Minneapolis

      Retail space with parking in a developed residential area.
      929-949 Portland Ave, Minneapolis, MN 55404
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    908 Centennial Pl
    Minneapolis, MN 55404-1343
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.