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    10801 Wayzata Blvd Minnetonka, MN 55305-5510
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    Property profile & analytics

    10801 Wayzata Blvd Minnetonka, MN 55305-5510

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    • Commercial real estate
    • 13,622 SF
    • 2.78 lot acres
    Off-Market
    Last Sale Jan 15, 2025
    $3,700,000
    Property ID
    US46-0145007
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $3,560,000
    Show details
    Cap Rate Potential
    4.4%
    Commercial real estate
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 10801 Wayzata Blvd

    Year built
    1985
    Construction
    STEEL FRAME
    Lot size
    2.78 lot acres
    Property size
    13,622 SF
    Zone code
    PID
    Property type
    Commercial real estate
    APN
    01-117-22-32-0053
    APU
    111722320053

    Description

    This exceptional Class A office building, located at 10801 Wayzata Blvd in Minnetonka, Minnesota, offers 41,496 square feet of premium workspace spread across three stories. Situated on a 2.84-acre lot, the property boasts excellent visibility from I-394, ensuring high brand recognition and accessibility. The building provides ample parking with 132 spaces, a generous ratio of 3.21 spaces per 1,000 square feet, including convenient underground parking. Its prime location offers unparalleled convenience, being just a mile from the Ridgedale Center, a major shopping mall encompassing approximately 140 retail tenants and anchored by JCPenney, Nordstrom, and Macy's. This strategic location provides employees and clients with easy access to a wide array of amenities and services. The property also includes the option of acquiring existing furniture, offering a seamless transition for new occupants. The asking price is negotiable, presenting a unique opportunity for businesses seeking a high-quality, well-located office space in the thriving Minnetonka market. The property's zip code is 55305, and it is located in Hennepin County.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,395,000
      ML approach
      $3,405,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,515,000
      6.5%
      $2,320,000
      7%
      $2,155,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,604,000
      Market price range: $1.08M - $3.60M

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Minnetonka
    County
    Hennepin
    State
    Minnesota
    Longitude
    -93.4163
    Latitude
    44.9708
    CBSA code
    33460
    CBSA name
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $157,768
    $2,421,000
    $2,982,000
    $5,403,000
    -
    $2,421,000
    $2,982,000
    $5,403,000

    Comparable in this City

    • Value Estimation
      $4,625,000
      31,032 SF

      11055 Wayzata Blvd

      COMMERCIAL (GENERAL) • 31,032 SF
      11055 Wayzata Blvd, Minnetonka, MN 55305-1573
      View Details
    • Value Estimation
      $1,260,000
      10,813 SF

      13700 Wayzata Blvd

      COMMERCIAL (GENERAL) • 10,813 SF
      13700 Wayzata Blvd, Minnetonka, MN 55305-1734
      View Details
    • Value Estimation
      $1,505,000
      9,762 SF

      1809 Plymouth Rd

      COMMERCIAL (GENERAL) • 9,762 SF
      1809 Plymouth Rd, Minnetonka, MN 55305-1980
      View Details
    • Value Estimation
      $570,000
      4,762 SF

      11110 Greenbrier Rd

      COMMERCIAL (GENERAL) • 4,762 SF
      11110 Greenbrier Rd, Minnetonka, MN 55305-3478
      View Details
    • Value Estimation
      $6,455,000
      43,180 SF

      301 Carlson Pkwy

      COMMERCIAL (GENERAL) • 43,180 SF
      301 Carlson Pkwy, Minnetonka, MN 55305-5353
      View Details
    • Value Estimation by Request
      0.39 Acres

      9805 Minnetonka Blvd

      COMMERCIAL (GENERAL) • 0.39 Acres
      9805 Minnetonka Blvd, Minnetonka, MN 55305
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      6.05 Acres

      Minnetonka Office & Medical Space

      Updated office and medical space in well-maintained building.
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      Minnetonka Religious Facility For Sale

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      4,416 SF

      Renovated Stand-Alone Office Building

      Completely renovated office building with modern design and convenient location.
      13815 Ridgedale Dr, Minnetonka, MN 55305
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Move-in Ready Office Sublease

      Sublease available through 8/31/2027 with private offices and open workspaces.
      701 Carlson Pkwy, Minnetonka, MN 55305
      View Details
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      Ridgehaven Marketplace Retail Space

      Retail space in a high-traffic shopping center.
      & I394 Plymouth Rd, Minnetonka, MN 55305
      View Details
    • Contact for pricing
      1,690 SF

      Minnetonka Office Space Available

      Office space available for rent in Minnetonka, Minnesota.
      2000 Plymouth Rd, Minnetonka, MN 55305
      View Details
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      18,000 SF

      Ridgedale Mall Retail Opportunity

      Retail box opportunity at a primary mall entrance in Minnetonka.
      1501-1641 Plymouth Rd, Minnetonka, MN 55305
      View Details
    • Contact for pricing
      1,192 SF

      Retail Space Near Major Roadways

      Retail spaces available in Minnetonka, shadow-anchored by Aldi.
      10976-11032 Cedar Lake Rd S, Minnetonka, MN 55305
      View Details
    • Contact for pricing
      350 SF

      Corner Office Suite For Rent

      Office suite featuring a reception area, four private offices.
      13911 Ridgedale Dr, Minnetonka, MN 55305
      View Details
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    Minnetonka, MN 55305-5510
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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
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