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

    1429 Madison St NE Minneapolis, MN 55413

    • Commercial real estate
    • 3,275 SF
    • 0.18 lot acres
    For Sale
    View listing
    $599,000
    Last Sale
    Sep 17, 2024
    $445,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US46-0684904
    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

    • New Commandment Church / Church
    • Tullu Rajota Saints Peter and Paul EOTC Church / Church
    • Helping Hand Food Shelter / Church / Mosque

    Property Details for 1429 Madison St NE

    Year built
    1900
    Construction
    CONCRETE
    Lot size
    0.18 lot acres
    Property size
    3,275 SF
    Zone code
    R2B
    Property type
    Commercial real estate
    APN
    14-029-24-12-0190
    APU
    1402924120190

    Description

    This exceptional 6,122 square foot church building is located in Minneapolis' desirable Northeast neighborhood at 1429 NE Madison St, zip code 55413, Hennepin County, Minnesota. The single-tenant property offers a unique opportunity for a variety of uses. The building boasts beautiful leaded and stained glass windows throughout, creating a stunning and inspiring atmosphere. A spacious sermon area with original pew seating provides ample room for gatherings or events. Multiple spacious side rooms are ideal for classrooms, offices, or artist studios, offering versatility and adaptability. A commercial kitchen and prep area are included, along with several bathrooms and substantial storage and workspace. The property also includes four parking spaces. This property presents a rare chance to acquire a significant building with character and potential in a prime location. Its unique features and ample space make it suitable for a range of commercial ventures, religious organizations, or creative enterprises. The property's size and layout provide significant flexibility for future development or adaptation to meet specific needs.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Minneapolis
    County
    Hennepin
    State
    Minnesota
    Longitude
    -93.2534
    Latitude
    45.0029
    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
    $23
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      1.58 Acres

      110 1st Ave Nev

      COMMERCIAL (GENERAL) • 1.58 Acres
      110 1st Ave Nev, Minneapolis, MN 55413-2235
      View Details
    • Value Estimation by Request
      435 SF

      20 2nd St Nec102

      COMMERCIAL (GENERAL) • 435 SF
      20 2nd St Nec102, Minneapolis, MN 55413-2264
      View Details
    • Value Estimation by Request
      4,859 SF

      1429 2nd NE St

      COMMERCIAL (GENERAL) • 4,859 SF
      1429 2nd NE St, Minneapolis, MN 55413-1133
      View Details
    • Value Estimation by Request
      58 SF

      20 2nd St Nec2001

      COMMERCIAL (GENERAL) • 58 SF
      20 2nd St Nec2001, Minneapolis, MN 55413-2264
      View Details
    • Value Estimation by Request
      58 SF

      20 2nd St Nec601

      COMMERCIAL (GENERAL) • 58 SF
      20 2nd St Nec601, Minneapolis, MN 55413-2264
      View Details
    • Value Estimation
      $565,000
      3,672 SF

      212 13th NE Ave

      COMMERCIAL (GENERAL) • 3,672 SF
      212 13th NE Ave, Minneapolis, MN 55413-1173
      View Details

    Similar Nearby for Sale

    • $657,000
      0.75 Acres

      East Hennepin Ave Commercial Land

      Prime Minneapolis land, build-to-suit opportunity.
      1909-1917 Hennepin Ave, Minneapolis, MN 55413
      View Details
    • Contact for pricing
      95,500 SF

      Hennepin Square Office Building

      95,500 SF Minneapolis Office Space
      2021 Hennepin Ave, Minneapolis, MN 55413
      View Details
    • Contact for pricing
      53,071 SF

      Minnesota Medical Treatment Centers Portfolio

      Portfolio of three medical treatment centers with long-term tenants.
      3329 University Ave SE, Minneapolis, MN 55413
      View Details
    • Contact for pricing
      25,734 SF

      Transit-Adjacent Mixed-Use Redevelopment Opportunity

      Mixed-use property with redevelopment potential in Prospect Park neighborhood.
      3430 University Ave SE, Minneapolis, MN 55413
      View Details
    • $1,750,000
      3,531 SF

      Central Avenue Commercial Portfolio

      Multi-parcel property in Northeast Minneapolis with redevelopment potential.
      2626-2650 Central Ave NE, Minneapolis, MN 55413
      View Details
    • Contact for pricing
      7,052 SF

      Retail Property in Minneapolis

      Retail property available for sale in Minneapolis, Minnesota.
      301 Harrison St NE, Minneapolis, MN 55413
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,500 SF

      Creative Office Space Available

      Spec suite with open concept, stylish offices, and courtyard.
      1229 NE Tyler St, Minneapolis, MN 55413
      View Details
    • Contact for pricing
      29,400 SF

      Minneapolis Warehouse Space For Rent

      Industrial warehouse space with access to 35W and area amenities.
      2101-2111 Broadway St NE, Minneapolis, MN 55413
      View Details
    • Contact for pricing
      140,930 SF

      Prime Urban Industrial Campus

      40-acre site suitable for logistics, manufacturing, office, lab.
      800-900 Marshall St NE, Minneapolis, MN 55413
      View Details
    • Contact for pricing
      78,000 SF

      Versatile Industrial Space for Lease

      40-acre urban site suitable for logistics, manufacturing, office, lab.
      907 Sibley St NE, Minneapolis, MN 55413
      View Details
    • Contact for pricing

      Office Space in Highlight Tower

      Contemporary office spaces available in the Highlight Center complex.
      1201 Jackson St NE, Minneapolis, MN 55413
      View Details
    • Contact for pricing
      5,802 SF

      Luxurious Office Space with Amenities

      Upscale office space featuring modern amenities and collaborative workspaces.
      501 1St Ave NE, Minneapolis, MN 55413
      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.
    1429 Madison St NE
    Minneapolis, MN 55413
    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.