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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    13601 Ridgedale Dr Minnetonka, MN 55305-1766

    • Commercial real estate
    • 30,080 SF
    • 2.28 lot acres
    OFF-MARKET
    Last Sale
    Jan 18, 2022
    $6,625,000
    Value Estimations
    $5,655,000
    Show details
    Cap Rate Potential
    6.1%
    Commercial real estate
    Location Intelligence
    Property ID
    US46-0839897
    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.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 13601 Ridgedale Dr

    Year built
    1984
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    2.28 lot acres
    Property size
    30,080 SF
    Zone code
    PID
    Property type
    Commercial real estate
    APN
    03-117-22-31-0036
    APU
    311722310036

    Description

    Ridgewood Center, a premier retail property in Minnetonka, Minnesota, offers exceptional opportunities for businesses seeking high-visibility locations. This 30,000 square foot retail strip center is situated at 13601 Ridgedale Dr, 55305, within the highly desirable Ridgedale Trade Area, a key shopping destination in the western suburbs. The property boasts convenient access via I-394 frontage, ensuring excellent visibility and accessibility for customers. Multiple tenancy options are available, with spaces ranging from a minimum of 2,500 square feet to a maximum contiguous space of 12,000 square feet, providing flexibility for various business needs. The Hennepin County location (APN: 03-117-22-31-0036) offers a strong market presence and access to a substantial consumer base. This is an ideal opportunity for businesses seeking a prime retail location within a thriving commercial area. The property is currently available for lease. Interested parties should inquire for further details and availability. The property's strategic location and flexible space options make it an attractive investment for businesses seeking to establish or expand their presence in the vibrant Minnetonka market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,495,000
      ML approach
      $5,445,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $5,550,000
      6.5%
      $5,125,000
      7%
      $4,755,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,629,000
      Market price range: $2.39M - $7.96M

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

    Location Insight

    • Map
    • Local Demand
    City
    Minnetonka
    County
    Hennepin
    State
    Minnesota
    Longitude
    -93.452
    Latitude
    44.97
    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
    $201,573
    $1,889,000
    $5,046,000
    $6,935,000
    -
    $1,889,000
    $5,046,000
    $6,935,000

    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

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      Wooded Lot in Minnetonka

      Private, wooded, nearly one-acre lot in Minnetonka, Minnesota.
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      Renovated Stand-Alone Office Building

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

      Minnetonka Office & Medical Space

      Updated office and medical space in well-maintained building.
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    Similar Nearby for Lease

    • Contact for pricing
      12,000 SF

      Retail Space in Ridgedale Area

      Available retail space in a sought-after trade area.
      13601-13691 Wayzata Blvd, Minnetonka, MN 55305
      View Details
    • Contact for pricing
      3,809 SF

      Retail Space in Ridgehaven Marketplace

      Retail space available in a high-traffic shopping center.
      13081-13181 Ridgedale Dr, Minnetonka, MN 55305
      View Details
    • $14 SF/Yr
      1,857 SF

      Corner Office Suite For Rent

      Office suite featuring a reception area, four private offices.
      13911 Ridgedale Dr, Minnetonka, MN 55305
      View Details
    • $25 SF/Yr
      1,081 SF

      Exceptional Office Location in Minnetonka

      Premier office space in Minnetonka's Crescent Ridge Corporate Center.
      11100 Wayzata Blvd, Minnetonka, MN 55305
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    • Contact for pricing
      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
      1,200 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
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    13601 Ridgedale Dr
    Minnetonka, MN 55305-1766
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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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