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

    1945 Fremont Ave Sg3 Minneapolis, MN 55403-2940

    • Parking lots & garages
    • 0.16 lot acres
    OFF-MARKET
    Last Sale
    Apr 30, 2025
    $344,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US46-0964980
    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

    • Parking lots & garages

    Property Details for 1945 Fremont Ave Sg3

    Year built
    1913
    Construction
    BRICK
    Lot size
    0.16 lot acres
    Zone code
    R4
    Property type
    Parking lots & garages
    APN
    28-029-24-43-0277
    APU
    2802924430277

    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
    -93.2953
    Latitude
    44.9629
    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
    $143
    $1,500
    $9,500
    $11,000
    -
    $1,500
    $9,500
    $11,000

    Comparable in this City

    • Value Estimation by Request
      2.08 Acres

      48 Groveland Terc31

      RESIDENTIAL PARKING GARAGE • 2.08 Acres
      48 Groveland Terc31, Minneapolis, MN 55403-1144
      View Details
    • Value Estimation by Request
      2.02 Acres

      400 Groveland Ave, Unit P134

      RESIDENTIAL PARKING GARAGE • 2.02 Acres
      400 Groveland Ave, Minneapolis, MN 55403-3232
      View Details
    • Value Estimation by Request
      1.59 Acres

      1235 Yale Plb142

      RESIDENTIAL PARKING GARAGE • 1.59 Acres
      1235 Yale Plb142, Minneapolis, MN 55403-1949
      View Details
    • Value Estimation by Request
      0.38 Acres

      301 Kenwood Pkwyg6

      RESIDENTIAL PARKING GARAGE • 0.38 Acres
      301 Kenwood Pkwyg6, Minneapolis, MN 55403-1159
      View Details
    • Value Estimation by Request
      2.08 Acres

      52 Groveland Tera48

      RESIDENTIAL PARKING GARAGE • 2.08 Acres
      52 Groveland Tera48, Minneapolis, MN 55403-1146
      View Details
    • Value Estimation by Request
      1.59 Acres

      1235 Yale Plg20

      RESIDENTIAL PARKING GARAGE • 1.59 Acres
      1235 Yale Plg20, Minneapolis, MN 55403-1949
      View Details

    Similar Nearby for Sale

    • $4,671,810

      Minneapolis CBD Development Opportunity

      Large infill development site in Minneapolis CBD with flexible zoning.
      41 10Th St N, Minneapolis, MN 55403
      View Details
    • $5,150,000

      Prime Minneapolis Location with Income

      Land with income near Convention Center, skyway access, development potential.
      228 12Th St S, Minneapolis, MN 55403
      View Details
    • $850,000
      5,424 SF

      Retail Space on Hennepin Avenue

      Retail property for sale in Minneapolis, Minnesota.
      930 Hennepin Ave, Minneapolis, MN 55403
      View Details
    • $3,850,000
      26,758 SF

      Prime Minneapolis Mixed-Use Building

      Boutique Property, High ROI Potential
      1934 Hennepin Ave, Minneapolis, MN 55403
      View Details
    • $2,950,000
      30,523 SF

      Uptown Retail Investment Opportunity

      100% leased retail building in the core of Uptown.
      3032-3038 Hennepin Ave, Minneapolis, MN 55403
      View Details
    • $3,600,000
      26,947 SF

      Prime Retail Location in Uptown

      Vibrant retail property in Minneapolis' bustling Uptown neighborhood.
      2907-2911 Hennepin Ave, Minneapolis, MN 55403
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      656 SF

      Retail Space on Nicollet Mall

      Former salon space available for rent on Nicollet Mall.
      900-950 Nicollet Mall, Minneapolis, MN 55403
      View Details
    • Contact for pricing
      2,563 SF

      Restaurant Space in Loring Park

      Restaurant space in a sought-after Minneapolis neighborhood.
      1368 Lasalle Ave, Minneapolis, MN 55403
      View Details
    • $19 SF/Yr
      13,270 SF

      Hennepin Ave Retail Space For Lease

      Prime Minneapolis Restaurant Space Available
      1242 Hennepin Ave, Minneapolis, MN 55403
      View Details
    • Contact for pricing
      200 SF

      Prime Minneapolis Commercial Kitchen

      200 SF Ghost Kitchen - Turnkey Ready
      1025 Currie Ave, Minneapolis, MN 55403
      View Details
    • Contact for pricing
      9,767 SF

      Downtown Minneapolis Bar/Restaurant Space

      Two-level bar/restaurant with courtyard and rooftop lounge in downtown Minneapolis.
      901-913 Hennepin Ave, Minneapolis, MN 55403
      View Details
    • Contact for pricing
      2,668 SF

      Nicollet Mall Retail Opportunity

      Retail spaces available in a vibrant live, work, play environment.
      355-365 Nicollet Mall, Minneapolis, MN 55403
      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.
    1945 Fremont Ave Sg3
    Minneapolis, MN 55403-2940
    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.