Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2703 Winnetka Ave Minneapolis, MN 55427

    • Neighborhood centers
    • 50,830 SF
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Neighborhood centers

    Property Details for 2703 Winnetka Ave

    Property size
    50,830 SF
    Property type
    Neighborhood centers
    Property subtype
    Retail properties

    Description

    Midland Shopping Center, a 50,830 square foot retail strip center, presents a compelling investment opportunity in Minneapolis, Minnesota. Located at 2703 Winnetka Ave N, zip code 55427, this well-established center boasts 474 parking spaces and sits on a generous 7.8-acre lot. Currently, there are two available spaces ranging from 1,000 to 1,810 square feet, totaling 1,810 square feet of vacant space. The center is situated in a thriving commercial area with convenient access to major transportation routes, ensuring high visibility and accessibility for businesses. Its existing tenant mix creates a strong synergy and draws significant foot traffic. This property offers a unique chance to establish a presence in a bustling Minneapolis neighborhood, benefiting from the established commercial activity and convenient location. The property's size and ample parking provide significant advantages for potential tenants seeking a prominent retail space. The available spaces are ideal for a variety of retail uses, offering flexibility for prospective businesses. This is a rare opportunity to secure retail space in a high-traffic, well-established commercial area of Minneapolis.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Minneapolis
    County
    Hennepin
    State
    Minnesota
    Longitude
    -93.3814
    Latitude
    45.0084

    Comparable in this City

    • Value Estimation by Request
      40,000 SF

      7600-7800 Olson Mem Hwy

      Neighborhood centers • 40,000 SF
      7600-7800 Olson Mem Hwy, Golden Valley, MN 55427
      View Details
    • Value Estimation by Request
      2.61 Acres

      4151 Boone N Ave, Unit 12

      RESIDENTIAL PARKING GARAGE • 2.61 Acres
      4151 Boone N Ave, New Hope, MN 55427-1000
      View Details
    • Value Estimation by Request
      2.61 Acres

      4151 Boone N Ave, Unit 16

      RESIDENTIAL PARKING GARAGE • 2.61 Acres
      4151 Boone N Ave, New Hope, MN 55427-1000
      View Details
    • Value Estimation by Request
      2.61 Acres

      4151 Boone N Ave, Unit 18

      RESIDENTIAL PARKING GARAGE • 2.61 Acres
      4151 Boone N Ave, New Hope, MN 55427-1000
      View Details
    • Value Estimation by Request
      2.61 Acres

      4151 Boone N Ave, Unit 20

      RESIDENTIAL PARKING GARAGE • 2.61 Acres
      4151 Boone N Ave, New Hope, MN 55427-1000
      View Details
    • Value Estimation by Request
      0.63 Acres

      2432 Mendelssohn Ln, Unit 35

      RESIDENTIAL PARKING GARAGE • 0.63 Acres
      2432 Mendelssohn Ln, Golden Valley, MN 55427-3138
      View Details

    Similar Nearby for Lease

    • $32 SF/Yr
      40,000 SF

      Golden Valley Commons Retail Center

      Upscale retail center, Hwy 55 frontage.
      7600-7800 Olson Mem Hwy, Golden Valley, MN 55427
      View Details
    • Contact for pricing
      50,830 SF

      Midland Shopping Center: Minneapolis

      Prime Retail Space, Minneapolis, MN
      2703 Winnetka Ave, Minneapolis, MN 55427
      View Details
    • $23 SF/Yr
      4,144 SF

      Golden Valley Office Space Available

      Prime Minneapolis location, multiple suites.
      669 Winnetka Ave, Minneapolis, MN 55427
      View Details
    • Contact for pricing
      9,600 SF

      Prime New Hope Retail Space

      9,600 SF Multi-Tenant Storefront Available
      7500 42 Ave, New Hope, MN 55427
      View Details
    • Contact for pricing
      12,045 SF

      Automotive/Retail Space Near Home Depot

      Retail or automotive space with freeway visibility and ample parking.
      6771 Boone Ave N, Brooklyn Park, MN 55427
      View Details
    • Contact for pricing
      142,325 SF

      Minneapolis Warehouse Space Available

      142,325 sqft warehouse space for rent in Minneapolis.
      3440 Winpark Dr, Minneapolis, MN 55427
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2703 Winnetka Ave
    Minneapolis, MN 55427
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.