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

    1609 49th N Ave Minneapolis, MN 55430-3734

    • Industrial properties
    • 17,697 SF
    • 1.10 lot acres
    OFF-MARKET
    Value Estimations
    $525,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US46-0691456
    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

    • Mar - John Track Maintenance, Inc. / Railroad Contractor
    • Dean Younkin Trucking / Trucking Company
    • Minneapolis Refuse Inc / Garbage Collection Service

    Property Details for 1609 49th N Ave

    Year built
    1958
    Construction
    CONCRETE
    Lot size
    1.10 lot acres
    Property size
    17,697 SF
    Zone code
    I2
    Property type
    Industrial properties
    APN
    11-118-21-41-0003
    APU
    1111821410003

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $510,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $533,000
      Market price range: $183k - $1.25M

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

    Location Insight

    • Map
    • Local Demand
    City
    Minneapolis
    County
    Hennepin
    State
    Minnesota
    Longitude
    -93.3008
    Latitude
    45.0433
    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
    $35,326
    $285,600
    $914,400
    $1,200,000
    -
    $285,600
    $914,400
    $1,200,000

    Comparable in this City

    • Value Estimation
      $935,000
      106,204 SF

      4701 Humboldt N Ave

      INDUSTRIAL (GENERAL) • 106,204 SF
      4701 Humboldt N Ave, Minneapolis, MN 55430-3741
      View Details
    • Value Estimation
      $885,000
      173,183 SF

      6800 Shingle Crk Pkwy

      INDUSTRIAL (GENERAL) • 173,183 SF
      6800 Shingle Crk Pkwy, Brooklyn Center, MN 55430-1418
      View Details
    • Value Estimation
      $860,000
      140,508 SF

      1600 67th N Ave

      INDUSTRIAL (GENERAL) • 140,508 SF
      1600 67th N Ave, Brooklyn Center, MN 55430-1702
      View Details
    • Value Estimation
      $800,000
      77,258 SF

      1700 67th N Ave

      INDUSTRIAL (GENERAL) • 77,258 SF
      1700 67th N Ave, Brooklyn Center, MN 55430-1703
      View Details
    • Value Estimation
      $770,000
      78,977 SF

      2700 Fwy Blvd

      INDUSTRIAL (GENERAL) • 78,977 SF
      2700 Fwy Blvd, Brooklyn Center, MN 55430-1727
      View Details
    • Value Estimation
      $665,000
      38,025 SF

      6890 Shingle Crk Pkwy

      INDUSTRIAL (GENERAL) • 38,025 SF
      6890 Shingle Crk Pkwy, Brooklyn Center, MN 55430-1413
      View Details

    Similar Nearby for Sale

    • $3,650,000
      34,756 SF

      Brooklyn Center Warehouse - $3.65M

      34,756 SF Warehouse, Owner/User Opportunity
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    • $4,300,000
      62,047 SF

      Minneapolis Warehouse with Income Potential

      62,047 SF warehouse with existing income and flexible options.
      2223 49Th Ave N, Minneapolis, MN 55430
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    • $6,860,070
      76,223 SF

      Brooklyn Center Warehouse For Sale

      76,223 SF warehouse with 24' clear height.
      6707 Shingle Creek Pkwy, Brooklyn Center, MN 55430
      View Details
    • Contact for pricing

      Retail Destination in Brooklyn Center

      Retail property with high visibility and multiple signage opportunities.
      1320 Shingle Creek Xing, Brooklyn Center, MN 55430
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    • Contact for pricing

      Retail Center Anchored by Sun Foods

      Retail destination with high visibility and multiple signage options.
      1000 Shingle Creek Xing, Brooklyn Center, MN 55430
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    Similar Nearby for Lease

    • $6 SF/Yr
      140,551 SF

      Brooklyn Center Industrial Space

      Large warehouse, manufacturing space available
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      View Details
    • $3,300,000
      3,984 SF

      Warehouse Space with Shared Dock

      9,712 SF warehouse space available for lease.
      1601 67Th Ave N, Brooklyn Center, MN 55430
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    • Contact for pricing
      35,852 SF

      Brooklyn Center Warehouse Space Available

      High-image warehouse with immediate highway access and ample parking.
      6820 Shingle Creek Pkwy, Brooklyn Center, MN 55430
      View Details
    • Contact for pricing
      120,000 SF

      Warehouse Space Available For Lease

      230,000 SF warehouse on 15 acres, central location.
      1297 Shingle Creek Xing, Brooklyn Center, MN 55430
      View Details
    • $10 SF/Yr
      2,400 SF

      Office Space in Brooklyn Center

      Office space for rent with easy access to amenities.
      6200 Shingle Creek Pkwy, Brooklyn Center, MN 55430
      View Details
    • $8 SF/Yr
      6,249 SF

      Regus Brooklyn Center Office Space

      Flexible workspace solutions in MN.
      6160 Summit Dr, Brooklyn Center, MN 55430
      View Details
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    1609 49th N Ave
    Minneapolis, MN 55430-3734
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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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