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

    1601 Old Shakopee Rd Bloomington, MN 55431-3065

    • Commercial real estate
    • 5,084 SF
    • 1.19 lot acres
    OFF-MARKET
    Value Estimations
    $540,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US46-0034070
    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 1601 Old Shakopee Rd

    Year built
    1983
    Lot size
    1.19 lot acres
    Property size
    5,084 SF
    Property type
    Commercial real estate
    APN
    16-027-24-31-0033
    APU
    1602724310033

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $770,000
      Current use
      INDUSTRIAL (GENERAL)
      $635,000
      Change: -17% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Bloomington
    County
    Hennepin
    State
    Minnesota
    Longitude
    -93.3006
    Latitude
    44.8244
    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
    $0.00
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,600,000
      15,060 SF

      8800 Penn S Ave

      COMMERCIAL (GENERAL) • 15,060 SF
      8800 Penn S Ave, Bloomington, MN 55431-2023
      View Details
    • Value Estimation
      $2,875,000
      26,552 SF

      3800 Old Shakopee Rd

      COMMERCIAL (GENERAL) • 26,552 SF
      3800 Old Shakopee Rd, Bloomington, MN 55431
      View Details
    • Value Estimation
      $2,355,000
      22,172 SF

      3500 89th St

      COMMERCIAL (GENERAL) • 22,172 SF
      3500 89th St, Bloomington, MN 55431-1825
      View Details
    • Value Estimation by Request
      264 SF

      2200 82nd St

      COMMERCIAL (GENERAL) • 264 SF
      2200 82nd St, Bloomington, MN 55431-1330
      View Details
    • Value Estimation
      $3,070,000
      28,903 SF

      11000 France S Ave

      COMMERCIAL (GENERAL) • 28,903 SF
      11000 France S Ave, Bloomington, MN 55431-3856
      View Details
    • Value Estimation
      $3,270,000
      23,019 SF

      7940 Penn S Ave

      COMMERCIAL (GENERAL) • 23,019 SF
      7940 Penn S Ave, Bloomington, MN 55431-1315
      View Details

    Similar Nearby for Sale

    • $4,500,000
      34,624 SF

      Prime Retail Redevelopment Opportunity

      Excellent visibility, high traffic, and strong demographics.
      7801 Xerxes Ave S, Bloomington, MN 55431
      View Details
    • $995,000
      0.99 Acres

      Bloomington Land Development Opportunity

      Shovel-ready land for 15 townhome units in Bloomington, MN.
      8545 Penn Ave S, Bloomington, MN 55431
      View Details
    • Contact for pricing
      2,402 SF

      Bloomington Retail/Restaurant Opportunity

      High-visibility corner location suitable for restaurant, medical, or retail use.
      10630 France Ave S, Bloomington, MN 55431
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      45,614 SF

      Office/Warehouse Building For Lease

      67,856 SF office/warehouse with dock loading and easy access.
      9601 Newton Ave S, Bloomington, MN 55431
      View Details
    • Contact for pricing
      8,361 SF

      Office Warehouse Facility For Rent

      Infill office warehouse with access to I-35W and I-494.
      9201 Penn Ave S, Bloomington, MN 55431
      View Details
    • Contact for pricing
      510 SF

      Bloomington Office Space For Rent

      Office space available for rent in Bloomington, Minnesota.
      9801 Dupont Ave S, Bloomington, MN 55431
      View Details
    • Contact for pricing
      2,281 SF

      Bloomington Retail Space Available

      Retail spaces for lease in a busy Bloomington shopping center.
      10603-10629 France Ave S, Bloomington, MN 55431
      View Details
    • $21 SF/Yr
      1,664 SF

      Modern Office Space Available

      Remodeled office space with modern amenities for lease.
      7901 S Xerxes Ave, Bloomington, MN 55431
      View Details
    • $6,595,000
      28,300 SF

      Bloomington Automotive/Retail Showroom For Rent

      High-quality automotive/retail showroom with service bays and ample parking.
      9545 S Penn Ave, Bloomington, MN 55431
      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.
    1601 Old Shakopee Rd
    Bloomington, MN 55431-3065
    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.