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Property profile & analytics
OFF-MARKET Estimated value $505,000
Commercial real estate

400 1st St Ste 101 Minneapolis, MN 55401-1336

3,371 SF 0.43 ac lot Built 1900
Entity Owned 7-yr Hold Free & Clear
Property ID
US46-3114396
Property summary
AI-generated overview

This exceptional offering presents two contiguous, vacant office suites within the prestigious Lindsay Building, located in Minneapolis' vibrant North Loop neighborhood. The property comprises Units 101 and 102, totaling 10,777 net rentable square feet, situated on the main level of a six-story, Class B building constructed in 1900. Unit 101 encompasses 4,139 square feet and features a large kitchen, eight private offices, a reception area, open workspaces, a utility room, and is priced at $499,900. Unit 102, priced at $899,900, offers 6,638 square feet, including two kitchens, eight private offices, a reception area, open workspaces, a copy room, and a resource room. Both units boast 12-foot ceilings, exposed brick and timber, and large windows, creating a unique and desirable workspace. The building's C3A zoning allows for a variety of uses. Shared amenities include two restrooms and eighteen parking spaces available for lease at $142 per month starting October 1, 2023, with a 2.5% annual increase. Association dues cover heating, water, trash removal, master insurance, management fees, snow removal, and interior/exterior maintenance, including reserves. Each unit is equipped with hot water baseboard heating and air handlers capable of both heating and cooling. The asking price for both units is $1,399,800. This presents a rare opportunity to acquire a substantial and well-appointed office space in a highly sought-after location.

Property profile
Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 1900
Construction BRICK
Total area 3,371 SF
Lot 0.43 ac (18,901 SF)
Zoning code R6
APN 22-029-24-14-0554
UPID US46-3114396
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Creative Arc, Inc. Marketing & Advertising (Bike/Boat/Book/etc) Store
  • American Health Mart Pharmacy
  • Riverwalk Lofts Condominium Complex
  • K and H Painting and Remodeling Renovation Specialist General Contractor
  • Upper Midwest Inspections Home Inspector
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$585k
Comparable Approach Comparable
$410k
Blend (final) Blend
$505k
Owner & transaction history
1805 Grand T LLC · 7 yrs held
1805 Grand T LLC
since 2018
4 recorded transactions
2018
$931,671
2017
$1.3M
2007
$964,000
1969
Price N/A
Zoning & alternative use
R6 · Minneapolis, MN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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