Office Space For
For Sale
Contact for pricing
4113 E Lake St, Minneapolis, MN 55406
Office space available for purchase.
Property Size12,968 SF
Price / SF$181.22
Days on Market1388
Property Features for 4113 E Lake St
General Information
Standard status
Active
Size
12,968 SF
Class
B
Property subtype
Office
Occupancy
100%
Lease Type
Gross
Site & Location
Neighborhood
Longfellow
Building Details
Tenancy
Single
Listing Agency:
NorthStar Real Estate Associates
Listed By:
James Yacoub · License #MN
(651) 451-2850
Source:
Crexi
Added: Jan 6, 2023
Changed: Oct 1
Last Checked: Oct 24 at 1:36PM
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 NorthStar Real Estate Associates
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This commercial real estate property offers office space for sale. The property provides a total size of 12968 square feet.
Key Highlights
- Office space for sale
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$153,993
Cap Rate
6.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,079,860
$3.1M
Cap Rate 7%
$2,199,900
$2.2M
Cap Rate 9%
$1,711,033
$1.7M
Market Conditions
NOI Build-Up for 12,968 SF
Gross rent
$284.8K $21.96/SF
− Vacancy
−$79.5K −$6.13/SF
EGI
$205.3K $15.83/SF
− OpEx
−$51.3K −$3.96/SF
NOI
$154.0K $11.87/SF
Area
ZIP 55406
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 Rate 5%
$3,079,860
Cap Rate 7%
$2,199,900
Cap Rate 9%
$1,711,033
Alternative Uses
Best Use
Office B
$2.20M
$1.92M – $2.57M
NOI $153,993 @ 7.0% cap · market cap 6.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.79M
$3.32M – $4.42M
NOI $265,252 @ 7.0% cap · market cap 11.29%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
674
Businesses Nearby
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Business Placement
Demographics for 55406, MN
34,588
Population
17,439
Households
2
Avg Household Size
39
Median Age
56%
College-Educated
93%
High-School Grad
5.0 sq mi
ZIP Area
6,918
Density / Sq Mi
$91,865
Median Household Income
$56,291
Median Earnings
$1,276
Median Rent
$335,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - Office space available for purchase.
Where is this office unit located?
The property is located at 4113 E Lake St Minneapolis, MN.
What is the asking price?
The asking price for this property is $2,350,000.
What are key features of this property?
This property features: Office space for sale
