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

    1500 Park Pl Blvd St Louis Park, MN 55416-1527

    • Commercial real estate
    • 3,087,672 SF
    • 6.33 lot acres
    OFF-MARKET
    Value Estimations
    $34,505,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US46-3216423
    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

    • Amazon Locker - Cloche / Postal Service / Courier Service
    • hotel / Hotel & Motel
    • Dover Restaurant & Bar / Restaurant
    • Tasks unlimited / High School
    • DoubleTree by Hilton Hotel Minneapolis - Park Place / Hotel & Motel

    Property Details for 1500 Park Pl Blvd

    Year built
    1981
    Construction
    CONCRETE
    Lot size
    6.33 lot acres
    Property size
    3,087,672 SF
    Property type
    Commercial real estate
    APN
    04-117-21-31-0019
    APU
    411721310019

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $35,816,000
      Market price range: $35.8M - $118M
      AI Estimate
      $33,192,000
      Market price range: $33.2M - $93.3M

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

    Location Insight

    • Map
    • Local Demand
    City
    St Louis Park
    County
    Hennepin
    State
    Minnesota
    Longitude
    -93.3507
    Latitude
    44.9684
    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
    $473,959
    $5,909,000
    $8,591,000
    $14,500,000
    -
    $5,909,000
    $8,591,000
    $14,500,000

    Comparable in this City

    • Value Estimation by Request
      2.90 Acres

      6300 Wayzata Blvd

      COMMERCIAL (GENERAL) • 2.90 Acres
      6300 Wayzata Blvd, Golden Valley, MN 55416-1212
      View Details
    • Value Estimation by Request
      4.51 Acres

      6099 Wayzata Blvd

      COMMERCIAL (GENERAL) • 4.51 Acres
      6099 Wayzata Blvd, St Louis Park, MN 55416-5538
      View Details
    • Value Estimation by Request
      1.63 Acres

      4450 Excelsior Blvd

      COMMERCIAL (GENERAL) • 1.63 Acres
      4450 Excelsior Blvd, St Louis Park, MN 55416-4816
      View Details
    • Value Estimation by Request
      1.33 Acres

      3059 Joppa S Ave

      COMMERCIAL (GENERAL) • 1.33 Acres
      3059 Joppa S Ave, St Louis Park, MN 55416-4458
      View Details
    • Value Estimation by Request
      5,485 SF

      3126 Lk St, Unit 1

      COMMERCIAL (GENERAL) • 5,485 SF
      3126 Lk St, Minneapolis, MN 55416-6802
      View Details
    • Value Estimation
      $2,295,000
      269,460 SF

      2230 State Hwy 100th S

      COMMERCIAL (GENERAL) • 269,460 SF
      2230 State Hwy 100th S, Minneapolis, MN 55416
      View Details

    Similar Nearby for Sale

    • $6,223,521
      14,600 SF

      St. Louis Park NNN Property

      NNN leased property in affluent St. Louis Park neighborhood.
      4140 Excelsior Blvd, St Louis Park, MN 55416
      View Details
    • Contact for pricing
      8,114 SF

      Excelsior Blvd Retail Assemblage

      Retail properties for sale on Excelsior Blvd in St. Louis Park.
      4617-4631 Excelsior Blvd, St Louis Park, MN 55416
      View Details
    • $1,200,000
      5,200 SF

      Excelsior Blvd Retail Opportunity

      Retail property on Excelsior Blvd in St. Louis Park.
      4631 Excelsior Blvd, St Louis Park, MN 55416
      View Details
    • $800,000
      3,780 SF

      St. Louis Park Retail Building

      3,780 SF retail building in St. Louis Park, MN for sale.
      4617 Excelsior Blvd, St Louis Park, MN 55416
      View Details
    • Contact for pricing
      23,076 SF

      Industrial Portfolio on Alabama Avenue

      Industrial portfolio available for sale in St Louis Park.
      3978-3990 Alabama Ave S, St Louis Park, MN 55416
      View Details
    • $242,000
      972 SF

      Top Floor Loft with Balcony

      Loft with updated features, balcony, and convenient location.
      3640 Wooddale Ave S, Saint Louis Park, MN 55416
      View Details

    Similar Nearby for Lease

    • $42 SF/Yr
      1,210 SF

      Class A Office Space Available

      Modern office space in a booming sub-market.
      1601 Utica Ave S, St Louis Park, MN 55416
      View Details
    • $50 SF/Yr
      28,995 SF

      Lakeside Center Office Sublease Opportunity

      Office spaces with lake views, flexible options, and prime location.
      3033 Excelsior Blvd, Minneapolis, MN 55416
      View Details
    • $30 SF/Yr
      10,232 SF

      Move-in Ready Medical Office Space

      10,232 RSF medical office space available for lease.
      3030 France Ave S, St Louis Park, MN 55416
      View Details
    • Contact for pricing
      7,117 SF

      St. Louis Park Retail Space For Lease

      7,117 SF Retail Space - Available Now
      5680 36Th St, St. Louis Park, MN 55416
      View Details
    • $19 SF/Yr
      1,923 SF

      Office Space Near Light Rail

      Office space available near highways, trails, and light rail.
      4500 Park Glen Rd, St Louis Park, MN 55416
      View Details
    • $22 SF/Yr
      2,688 SF

      St Louis Park Office Space

      Office space for rent with convenient access to major roadways.
      5000 W 36Th St, St Louis Park, MN 55416
      View Details

    Property Visit Statistics

    • Visits by month
      16.9k
    • Visitors by month
      11.1k
    • Avg Time on site
      278 min
    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.
    1500 Park Pl Blvd
    St Louis Park, MN 55416-1527
    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.