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

    1505 Central NE Ave Minneapolis, MN 55413-1832

    • Industrial properties
    • 128,318 SF
    • 3.54 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US46-2210645
    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

    • Industrial properties

    Property Details for 1505 Central NE Ave

    Year built
    1898
    Construction
    WOOD
    Lot size
    3.54 lot acres
    Property size
    128,318 SF
    Property type
    Industrial properties
    APN
    13-029-24-22-0106
    APU
    1302924220106

    Description

    This exceptional 60,000-square-foot industrial property, located at 1505 Central Ave NE in Minneapolis, Minnesota, presents a unique investment opportunity. Situated on a 0.89-acre lot within Hennepin County, this vacant building offers significant potential for a variety of commercial and research & development uses. The property is zoned I1 and features a single building with a 14-foot ceiling height, providing ample space for storage and operations. The previous tenant was Aaron Carlson Co. The lease type is NNN (Net, Net, Net), meaning the tenant is responsible for most operating expenses. The property's location in the thriving Nordeast Minneapolis neighborhood offers excellent access to transportation routes and a growing workforce. In addition to the substantial indoor storage space, the property also provides opportunities for outdoor yard storage. This versatile property is ideal for businesses seeking a large, well-located industrial space in a dynamic Minneapolis market. The property's size and features make it suitable for a wide range of industrial and R&D applications. Serious inquiries are encouraged to explore the possibilities of this prime Minneapolis industrial real estate offering.

    Value Estimations

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Minneapolis
    County
    Hennepin
    State
    Minnesota
    Longitude
    -93.2457
    Latitude
    45.0031
    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
    $128,147
    $1,371,900
    $2,128,100
    $3,500,000
    -
    $1,371,900
    $2,128,100
    $3,500,000

    Comparable in this City

    • Value Estimation by Request
      14,160 SF

      3101 Spg NE St

      INDUSTRIAL (GENERAL) • 14,160 SF
      3101 Spg NE St, Minneapolis, MN 55413-2907
      View Details
    • Value Estimation by Request
      105,340 SF

      1355 Industrial NE Blvd

      INDUSTRIAL (GENERAL) • 105,340 SF
      1355 Industrial NE Blvd, Minneapolis, MN 55413-1702
      View Details
    • Value Estimation by Request
      22,762 SF

      616 Industrial NE Blvd

      INDUSTRIAL (GENERAL) • 22,762 SF
      616 Industrial NE Blvd, Minneapolis, MN 55413-2904
      View Details
    • Value Estimation by Request
      86,776 SF

      1325 Quincy NE St

      INDUSTRIAL (GENERAL) • 86,776 SF
      1325 Quincy NE St, Minneapolis, MN 55413-1540
      View Details
    • Value Estimation by Request
      121,239 SF

      454 Coolidge NE St

      INDUSTRIAL (GENERAL) • 121,239 SF
      454 Coolidge NE St, Minneapolis, MN 55413
      View Details
    • Value Estimation by Request
      35,514 SF

      675 Stinson Blvd

      INDUSTRIAL (GENERAL) • 35,514 SF
      675 Stinson Blvd, Minneapolis, MN 55413-2759
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      45,300 SF

      Minneapolis Industrial Portfolio Opportunity

      Industrial properties available for sale in Minneapolis, Minnesota.
      1201 Winter St NE, Minneapolis, MN 55413
      View Details
    • Contact for pricing
      36,122 SF

      Industrial Facility in Prime Location

      36,122 SF industrial facility for sale or lease.
      404 Industrial Blvd, Minneapolis, MN 55413
      View Details
    • $2,050,000
      21,528 SF

      Industrial Building with Outdoor Storage

      21,528 SF industrial building with fenced outdoor storage.
      323 Pierce St NE, Minneapolis, MN 55413
      View Details
    • $6,150,000
      64,769 SF

      Fridley Industrial Facility with Excess Land

      64,769 SF industrial building with excess land for sale.
      Industrial Blvd NE 5330, Fridley, MN 55413
      View Details
    • Contact for pricing
      3,000 SF

      Warehouse with Covered and Fenced Storage

      3,000 SF warehouse with loading docks and outdoor storage.
      3021 Central Ave NE, Minneapolis, MN 55413
      View Details
    • Contact for pricing

      Minneapolis Truck Parking Investment Opportunity

      5.32 acres, 100% leased, grandfathered truck parking use.
      & I35W New Brighton Blvd, Minneapolis, MN 55413
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      2,153 SF

      Industrial Space Available for Lease

      Industrial property with 2,153 square feet available for rent.
      2010 E Hennepin Ave, Minneapolis, MN 55413
      View Details
    • Contact for pricing
      26,401 SF

      Prime Urban Industrial Campus

      40-acre site suitable for logistics, manufacturing, office, lab.
      58 9Th Ave NE, Minneapolis, MN 55413
      View Details
    • Contact for pricing
      3,784 SF

      Minneapolis Industrial Flex Space Available

      Industrial flex space for lease in Northeast Minneapolis.
      2700-2730 Summer St NE, Minneapolis, MN 55413
      View Details
    • Contact for pricing
      10,000 SF

      Industrial Swing Space with Racking

      7,500 SF footprint with up to 10,000 SF available.
      9800 8Th Ave N, Plymouth, MN 55413
      View Details
    • $5 SF/Yr
      29,400 SF

      Minneapolis Warehouse Space For Rent

      Industrial warehouse space with access to 35W and area amenities.
      2101-2111 Broadway St NE, Minneapolis, MN 55413
      View Details
    • Contact for pricing
      140,930 SF

      Prime Urban Industrial Campus

      40-acre site suitable for logistics, manufacturing, office, lab.
      800-900 Marshall St NE, Minneapolis, MN 55413
      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.
    1505 Central NE Ave
    Minneapolis, MN 55413-1832
    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.

    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
    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.