Stand-Alone Office Building in
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800 N 42nd Ave / 4217 Aldrich Ave N, Minneapolis, MN 55412
Centrally located office building with signage opportunity in Camden neighborhood.
Property Size5,100 SF
Price / SF$231.37
Days on Market748
Property Features for 800 N 42nd Ave / 4217 Aldrich Ave N
General Information
Standard status
Active
Size
5,100 SF
Class
B
Total Parking Spaces
13
Property subtype
Office
Zoning
CM2 Corridor Mixed-Use
Investment Type
Owner/User
Site & Location
Neighborhood
Sumner-glenwood
Building Details
Year Built
1937
Buildings
1
Stories
2
Listing Agency:
Gramercy Real Estate Group
Listed By:
Joshua Keller · License #MN 40050504
(612) 718-5933
Source:
Crexi
Added: Oct 11, 2024
Changed: Oct 26
Last Checked: Oct 26 at 2:38PM
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 Gramercy Real Estate Group
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Investment Insights
Based on property information with market context.
This stand-alone, two-story office building is centrally located at the top of a hill on a corner lot in the Camden neighborhood. The property, zoned CM2, offers a signage opportunity for an owner or tenant. It is situated close to major employers, highways, downtown, housing, and public transportation. Previously operating as an office building, it features 18 offices, four bathrooms, and kitchens on both floors. There are also four large meeting rooms. Parking includes three off-street spaces, plus a 13-car parking lot on a separate parcel. Ample windows provide natural light, creating a work environment. The property is currently set up for a single user. Zoned commercial with add-on, or development.
Key Highlights
- Centrally located stand‑alone office building on a corner lot in Camden neighborhood.
- Zoned CM2, allowing for add‑on or development.
- 13‑car parking lot as a separate parcel, plus three off‑street parking spaces.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,733
Cap Rate
5.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,274,660
$1.3M
Cap Rate 7%
$910,471
$910.5K
Cap Rate 9%
$708,144
$708.1K
Market Conditions
NOI Build-Up for 5,100 SF
Gross rent
$106.5K $20.88/SF
− Vacancy
−$21.5K −$4.22/SF
EGI
$85.0K $16.66/SF
− OpEx
−$21.2K −$4.17/SF
NOI
$63.7K $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 Rate 5%
$1,274,660
Cap Rate 7%
$910,471
Cap Rate 9%
$708,144
Alternative Uses
Best Use
Office B
$910.5K
$796.7K – $1.06M
NOI $63,733 @ 7.0% cap · market cap 5.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.22M
$1.06M – $1.42M
NOI $85,173 @ 7.0% cap · market cap 7.22%
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
1,082
Businesses Nearby
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Business Placement
Demographics for 55412, MN
23,800
Population
9,676
Households
2.5
Avg Household Size
33
Median Age
28%
College-Educated
85%
High-School Grad
3.4 sq mi
ZIP Area
7,000
Density / Sq Mi
$71,905
Median Household Income
$42,494
Median Earnings
$1,340
Median Rent
$226,400
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - Centrally located office building with signage opportunity in Camden neighborhood.
Where is this office building located?
The property is located at 800 N 42nd Ave / 4217 Aldrich Ave N Minneapolis, MN.
What is the asking price?
The asking price for this property is $1,180,000.
What are key features of this property?
This property features: Centrally located stand‑alone office building on a corner lot in Camden neighborhood.; Zoned CM2, allowing for add‑on or development.; 13‑car parking lot as a separate parcel, plus three off‑street parking spaces.
