Property profile

7500 N 42Nd Ave Minneapolis, MN 55427

FOR LEASE
Commercial real estate
Property ID
US46-0461973
1.13 ac lot Built 2006
Trust Owned 15-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional retail property, located at 7500-7560 42nd Ave N in New Hope, Minnesota, offers 9,600 square feet of completely vacant space, ideal for multiple tenants. Built in 2006, the property boasts a modern design and is situated in Hennepin County, zip code 55427. The building is configured to accommodate various business needs, with spaces ranging from a minimum of 1,200 square feet to a maximum contiguous space of 3,600 square feet. This flexibility allows for a diverse range of tenants, from smaller boutiques to larger retail operations. Ample parking is provided with 150 spaces available for customers and employees. The property's location in New Hope offers excellent visibility and accessibility, making it an attractive option for businesses seeking a thriving retail environment. The property is classified as a multi-tenant storefront, providing opportunities for synergistic businesses to co-locate. This presents a unique chance to establish a vibrant retail hub in a desirable location. The entire 9,600 square feet is currently vacant, presenting a blank canvas for a new retail development or a strategic expansion for an existing business. This property is ready for immediate occupancy.

Property profile

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 2006
Construction STEEL FRAME
Lot 1.13 ac (49,223 SF)
APN 17-118-21-22-0039
UPID US46-0461973

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Dental Office
  • Physician
  • Dental Office
  • Dental Office
  • Dental Office

Location

7500 N 42Nd Ave Minneapolis, MN 55427
Minneapolis metro Census 21503 MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$325k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$325k

Owner & transaction history

since 2011
3 recorded transactions
2011
$1.5M
2007
$469,788
2006
$510,000

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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