Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2800 40Th St Minneapolis, MN 55406
    Back to Search
    Property profile & analytics

    2800 40Th St, Minneapolis, MN 55406

    View on Map
    • Retail properties & Spaces
    • 2,100 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 2800 40Th St

    Year built
    1914
    Property type
    Retail properties & Spaces
    Property subtype
    Office Spaces

    Description

    This exceptional Minneapolis commercial property, located at 2800 E 40th St, offers 2,100 square feet of versatile space ideal for a variety of businesses. The single-story, 1914 building underwent renovations in 2008 and sits on a 4,792 square foot lot with ample parking (4-5 spaces plus a one-car garage) and a fenced yard. The main floor boasts two ADA-compliant bathrooms, a lobby, conference room, storage, kitchenette, and a large open area previously used as a workshop and office. A lower level provides additional office space, a 3/4 bath, egress window, and substantial storage. RM1 zoning in a thriving goods and services corridor allows for diverse uses (buyer to verify permitted uses with the city). Solar panels installed in 2022 generated at least 635 kWh of energy through August 2024. This prime location presents a fantastic storefront opportunity with a unique blend of office and retail potential. The property includes a small garden area and a moveable entrance gate. The asking price is $449,900. APN: 1202824110065.

    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
    -93.2319
    Latitude
    44.9307

    Comparable in this City

    • Value Estimation by Request
      13,779 SF

      2901 26Th Ave

      Office Spaces
      2901 26Th Ave, Minneapolis, MN 55406
      View Details
    • Value Estimation by Request
      20,381 SF

      3535 Lake St

      Land
      3535 Lake St, Minneapolis, MN 55406
      View Details
    • Value Estimation by Request
      6,729 SF

      4912 Lake St

      Retail properties & Spaces
      4912 Lake St, Minneapolis, MN 55406
      View Details
    • Value Estimation by Request
      1,931 SF

      2420 Seabury Ave

      Multifamily properties
      2420 Seabury Ave, Minneapolis, MN 55406
      View Details
    • Value Estimation by Request
      1,053 SF

      4644 Lake St

      Restaurants
      4644 Lake St, Minneapolis, MN 55406
      View Details
    • Value Estimation by Request
      1.68 Acres

      2530 34th Stg14

      RESIDENTIAL PARKING GARAGE
      2530 34th Stg14, Minneapolis, MN 55406-4517
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,990 SF

      Versatile Retail Building on Lake

      Retail building with redevelopment potential in Longfellow and Seward neighborhoods.
      3542 E Lake St, Minneapolis, MN 55406
      View Details
    • Contact for pricing
      12,968 SF

      Office Space For Sale

      Office space available for purchase.
      4113 E Lake St, Minneapolis, MN 55406
      View Details
    • Contact for pricing
      40,000 SF

      Minneapolis Office and Warehouse Space

      50,000+ sqft building with office and warehouse space for sale.
      3400 Cheatham Ave, Minneapolis, MN 55406
      View Details
    • Contact for pricing
      58,479 SF

      Office and Warehouse Space

      50,000+ sqft building with office, warehouse, and railway spur.
      3400 Cheatham Ave, Minneapolis, MN 55406
      View Details
    • Contact for pricing
      2,475 SF

      Showroom Building on Hiawatha Avenue

      Showroom building on 0.60 acres with outside storage.
      3463 Hiawatha Ave, Minneapolis, MN 55406
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,525 SF

      Historic Coliseum: BIPOC Entrepreneur Hub

      Renovated office and retail space in historic Longfellow building.
      2700-2800 E Lake St, Minneapolis, MN 55406
      View Details
    • Contact for pricing
      1,392 SF

      Retail Space with Patio

      Retail space with patio in transit-rich Minneapolis neighborhood.
      3561 Minnehaha Ave, Minneapolis, MN 55406
      View Details
    • Contact for pricing
      3,315 SF

      Retail and Apartment Complex

      Retail space anchored by Cub Foods with apartments and parking.
      4601-4621 Snelling Ave, Minneapolis, MN 55406
      View Details
    • Contact for pricing
      2,200 SF

      Retail Space on Hiawatha Avenue

      2,200 SF retail space available for rent.
      3801 Hiawatha Ave, Minneapolis, MN 55406
      View Details
    • Contact for pricing
      595 SF

      Renovated Office Space For Rent

      Clean office space with renovated common areas near light rail.
      4020 Minnehaha Ave, Minneapolis, MN 55406
      View Details
    • Contact for pricing
      2,640 SF

      Furnished Office Space Available

      Stand-alone building with furnished office space for rent.
      4009 Lake St E, Minneapolis, MN 55406
      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.
    2800 40Th St
    Minneapolis, MN 55406
    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

    Thank You for Inquiry
    2800 40Th St, Minneapolis, MN, 55406
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!