Renovated Nicollet Mall
For Sale
Contact for pricing
1200 Nicollet Mall C4, Minneapolis, MN 55403
Retail or office space on Nicollet Mall.
Property Size1,500 SF
Price / SF$166.67
Days on Market1094
Property Features for 1200 Nicollet Mall C4
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Office
Zoning
DT2/BFT20
Listing Agency:
KW Commercial Lake Minnetonka
(612) 991-6360
Listed By:
Jeffrey Meehan · License #MN 40027822
Source:
Crexi
Added: Aug 15, 2023
Changed: Aug 8
Last Checked: May 12 at 8:45PM
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 KW Commercial Lake Minnetonka
Investment Insights
Based on property information with market context.
This commercial space is located on the completely renovated Nicollet Mall, benefiting from heavy pedestrian traffic. The property is suitable for either retail or office use. It features retail surface parking. Situated near the Convention Center, hotels, and condominiums, its location is approximately five blocks from Loring Park, two blocks from Target Corporation, and four blocks from Sleep Number Corporation. The property size is 1500 square feet.
Key Highlights
- Located on completely renovated Nicollet Mall with heavy pedestrian traffic.
- Retail or office space available.
- Retail surface parking available.
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
$18,745
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
7.50%
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%
$374,900
$374.9K
Cap Rate 7%
$267,786
$267.8K
Cap Rate 9%
$208,278
$208.3K
Market Conditions
NOI Build-Up for 1,500 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
$31.3K $20.88/SF
− Vacancy
−$6.3K −$4.22/SF
EGI
$25.0K $16.66/SF
− OpEx
−$6.2K −$4.17/SF
NOI
$18.7K $12.50/SF
Area
Minneapolis, MN
Vacancy
20.20%
Lease Rate
$20.88 /SF/Yr
Expense Ratio
25.00%
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%
$374,900
Cap Rate 7%
$267,786
Cap Rate 9%
$208,278
Alternative Uses
Best Use
Office B
$267.8K
$234.3K – $312.4K
NOI $18,745 @ 7.0% cap · market cap 7.50%
Second Best
Retail
$258.1K
$225.8K – $301.1K
NOI $18,065 @ 7.0% cap · market cap 7.23%
Theoretical Best
Office A
$357.9K
$313.1K – $417.5K
NOI $25,051 @ 7.0% cap · market cap 10.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,433
Businesses Nearby
Explore this area
Business Placement
Demographics for 55403, MN
17,707
Population
12,906
Households
1.4
Avg Household Size
35
Median Age
59%
College-Educated
96%
High-School Grad
1.4 sq mi
ZIP Area
12,648
Density / Sq Mi
$59,928
Median Household Income
$50,876
Median Earnings
$1,199
Median Rent
$285,200
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Retail or office space on Nicollet Mall.
Where is this office units located?
The property is located at 1200 Nicollet Mall C4 Minneapolis, MN.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Located on completely renovated Nicollet Mall with heavy pedestrian traffic.; Retail or office space available.; Retail surface parking available.
