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    1533-1559 Larpenteur Ave Falcon Heights, MN 55113

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    For Lease
    Contact for pricing

    Prime Falcon Heights Office Space.

    Lot size:
    27,000 SF

    Property Features for 1533-1559 Larpenteur Ave

    General Information

    Property type
    Office properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    27,000 SF

    Building Details

    Year Built
    1985
    Stories
    1

    Spaces For Lease

    at 1533-1559 Larpenteur Ave, Falcon Heights, MN 55113 Contact us

    We can help!

    Listing Contact
    Justin Bryant
    Justin Bryant

    Listing Agency: Wellington Management Inc Listing Agent: Justin Bryant

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Falcon Crossing, a single-story, 27,000 square foot retail and office building in Falcon Heights, Minnesota, offers exceptional executive office space. Built in 1985 and situated at 1533-1559 West Larpenteur Avenue, this highly visible brick building boasts a desirable location near major shopping centers (Rosedale and HarMar malls), the University of Minnesota's St. Paul campus, and the Minnesota State Fairgrounds. The property features three suites available, ranging from 1,183 to 1,526 contiguous square feet, with a 12'6" ceiling height. Ample surface parking is provided with a ratio of 4.5 stalls per 1,000 square feet, totaling 98 spaces. The building enjoys a strong tenant mix including national and local businesses. This well-maintained property, upgraded by the previous owner, consistently maintains high occupancy rates, making it an attractive investment opportunity in a thriving commercial area. Located in Ramsey County, zip code 55113, this property presents a unique chance to establish a presence in a high-traffic, high-visibility location. The property is conveniently situated at the corner of Larpenteur and Snelling Avenues.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Falcon Heights
    County
    Ramsey
    State
    Minnesota
    Longitude
    -93.1647045
    Latitude
    44.9921728

    Nearby Similar for Lease

    • Contact for pricing
      1,526 SF

      Retail Space at Snelling/Larpenteur Intersection

      Retail space for rent with high traffic and residential density.
      1533-1559 W Larpenteur Ave, Falcon Heights, MN 55109
      View Details

    FAQs

    What type of property is this?
    Office property - Prime Falcon Heights Office Space.
    Where is this office property located?
    The property is located at 1533-1559 Larpenteur Ave Falcon Heights, MN.
    What are key features of this property?
    This property features: High-traffic corner location at Snelling/Larpenteur intersection (56,000 vehicles per day).; Over 100,000 residents within a 3-mile radius.; Excellent public transit access via major bus routes, including Rapid Bus Transit.
    (651) 999-5548 Call to check price and availability
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    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    1533-1559 Larpenteur Ave Falcon Heights, MN 55113
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Justin Bryant
    Justin Bryant
    (651) 999-5548 (651) 292-9844
    Learn more
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