Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    950 Nicollet Mall Minneapolis, MN 55403
    Back to Search
    Property profile & analytics

    950 Nicollet Mall Minneapolis, MN 55403

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

    Current Use by Public Records

    • Müve Orthodontics / Dental Office
    • Skyway Senior Center / Community Center
    • Elegant Nails / Nail Salon
    • Great Clips / Hair Salon

    Property Details for 950 Nicollet Mall

    Property size
    778 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Office Spaces

    Description

    This exceptional 778-square-foot medical office space is ideally situated at 950 Nicollet Mall in Minneapolis, Minnesota, within the vibrant heart of the Central Business District. The property boasts a prime "Main and Main" location on Nicollet Mall, between 9th and 10th Streets, offering unparalleled visibility and accessibility. Currently, the entire 778 square feet is available for lease, presenting a unique opportunity for a medical practice seeking a high-profile location. The building is classified as both retail and office space, with a commercial subtype specifically designated as medical office. Multiple tenancies are possible within the building. The property's strategic location provides convenient pedestrian access to the city's skyway system via four entrances located on LaSalle Avenue, 10th Street, Nicollet Avenue, and 9th Street, ensuring seamless connectivity for patients and staff. Located in Hennepin County, with a zip code of 55403, this property offers a blend of convenience, prestige, and high foot traffic, making it an exceptional opportunity for a medical practice seeking to establish or expand its presence in a thriving urban environment. The property is fully vacant and ready for immediate occupancy.

    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
    -93.2745
    Latitude
    44.9745

    Comparable in this City

    • Value Estimation by Request
      13,758 SF

      1100–1154 Hennepin Ave

      Retail properties & Spaces • 13,758 SF
      0 1100–1154 Hennepin Ave, Minneapolis, MN 55403
      View Details
    • Value Estimation by Request
      1.21 Acres

      228 12Th St

      Land • 1.21 Acres
      228 12Th St, Minneapolis, MN 55403
      View Details
    • Value Estimation by Request
      11,000 SF

      1931 Lyndale Ave

      Restaurants • 11,000 SF
      1931 Lyndale Ave, Minneapolis, MN 55403
      View Details
    • Value Estimation by Request
      150,000 SF

      1621-1635 Hennepin Ave

      Office Spaces • 150,000 SF
      1621-1635 Hennepin Ave, Minneapolis, MN 55403
      View Details
    • Value Estimation by Request
      7,550 SF

      212 Ridgewood Ave

      Office Spaces • 7,550 SF
      212 Ridgewood Ave, Minneapolis, MN 55403
      View Details
    • Value Estimation by Request
      13,270 SF

      1242 Hennepin Ave

      Restaurants • 13,270 SF
      1242 Hennepin Ave, Minneapolis, MN 55403
      View Details

    Similar Nearby for Sale

    • $2,950,000
      30,523 SF

      Uptown Retail Investment Opportunity

      100% leased retail building in the core of Uptown.
      3032-3038 Hennepin Ave, Minneapolis, MN 55403
      View Details
    • $250,000
      1,500 SF

      Renovated Nicollet Mall Retail/Office

      Retail or office space on Nicollet Mall.
      1200 Nicollet Mall C4, Minneapolis, MN 55403
      View Details
    • Contact for pricing
      26,758 SF

      Mixed-Use Building in Minneapolis

      26,587 SF mixed-use building on 0.34 acres for sale.
      1934 Hennepin Ave, Minneapolis, MN 55403
      View Details
    • $1,850,000
      17,088 SF

      Minneapolis Office Building Near Loring Park

      Office building with brick and timber ambience near downtown Minneapolis.
      1601 Hennepin Ave, Minneapolis, MN 55403
      View Details
    • Contact for pricing
      17,088 SF

      Minneapolis Office Building Near Loring

      Office building near Loring Park, Minneapolis Sculpture Garden, and Uptown.
      1601 Hennepin Ave, Minneapolis, MN 55403
      View Details
    • Contact for pricing
      1,267 SF

      Creative Office Space Available

      Unique office building with creative, high-image suites and hardwood floors.
      1128 Harmon Pl, Minneapolis, MN 55403
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr
      1,880 SF

      Downtown Minneapolis Office and Retail

      Office and retail spaces in the heart of Loring Park.
      1619-1647 Hennepin Ave, Minneapolis, MN 55403
      View Details
    • Contact for pricing
      2,563 SF

      Restaurant Space in Loring Park

      Restaurant space in a sought-after Minneapolis neighborhood.
      1368 Lasalle Ave, Minneapolis, MN 55403
      View Details
    • Contact for pricing

      Retail/Restaurant Space For Lease

      Retail and restaurant spaces available for lease.
      1242 Hennepin Ave, Minneapolis, MN 55403
      View Details
    • Contact for pricing
      9,767 SF

      Downtown Minneapolis Bar/Restaurant Space

      Two-level bar/restaurant with courtyard and rooftop lounge in downtown Minneapolis.
      901-913 Hennepin Ave, Minneapolis, MN 55403
      View Details
    • Contact for pricing
      13,758 SF

      Hennepin Ave Retail Space, Minneapolis

      Prime Minneapolis retail space, 13,758 sq ft.
      0 1100–1154 Hennepin Ave, Minneapolis, MN 55403
      View Details
    • $18 SF/Yr
      1,048 SF

      Restaurant Space with Dual Kitchens

      Second-generation restaurant space suitable for events and immersive entertainment.
      600 Hennepin Ave, Minneapolis, MN 55403
      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.
    950 Nicollet Mall
    Minneapolis, MN 55403
    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
    950 Nicollet Mall, Minneapolis, MN, 55403
    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!