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    212 Ridgewood Ave Minneapolis, MN 55403
    Property profile & analytics

    212 Ridgewood Ave Minneapolis, MN 55403

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    • Commercial real estate
    • 7,550 SF
    • 2.30 lot acres
    Off-Market
    Property ID
    US46-0343263
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Fields Emily L / Physician / Medical Clinic
    • Veronica (Roni) Ahern, M.A. / Physician / Medical Clinic
    • Brenda Steve MA LP Inc. / Physician / Medical Clinic
    • Krovitz Debbie B, Licensed Psychologist / Physician / Medical Clinic
    • Feldman Marlene / Physician / Medical Clinic

    Property Details for 212 Ridgewood Ave

    Year built
    1923
    Lot size
    2.30 lot acres
    Property size
    7,550 SF
    Property type
    Commercial real estate

    Description

    This exceptional Minneapolis office property at 212 Ridgewood Ave offers a variety of lease options in a prime location. The 7,550 square foot building, constructed in 1923 and classified as Class C, features one building situated on 2.3 acres of land. Currently, 1,500 square feet of space is available, divisible into units ranging from 150 to 1,895 contiguous square feet. The building is zoned UN2 and boasts multiple tenancies. Ideal for various professional uses, the space previously housed therapy/counseling practices and legal offices. Several units offer abundant natural light, and one even includes a four-season porch. Located in the desirable Loring Park/Lowry Hill area, the property provides convenient on-street parking and a large backyard green space for tenant use. All offices are located on the second floor. Leases are gross, inclusive of all utilities except Wi-Fi. This is a fantastic opportunity to secure affordable and well-appointed office space in a vibrant Minneapolis neighborhood. The cross street is Groveland Avenue, and the zip code is 55403.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Minneapolis
    County
    Anoka
    State
    Minnesota
    Longitude
    -93.2815477
    Latitude
    44.9640537

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    Similar Nearby for Lease

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      Office Space Available For Rent

      Office space available for lease in Minneapolis, MN.
      712 Ontario Ave W, Minneapolis, MN 55403
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      Nicollet Avenue Office Space Available

      Classic office building with exposed brick and timber features.
      1901-1911 Nicollet Ave, Minneapolis, MN 55403
      View Details
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      Affordable Office Space in Minneapolis

      Clean, 236 sqft office space near Downtown Minneapolis.
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      Office space for rent in downtown Minneapolis near Nicollet Mall.
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      Commercial office space with easy access to major interstates.
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      12,604 SF

      Downtown Minneapolis Office Space Available

      Office space near Nicollet Mall with convenient access and amenities.
      88 S 10Th St, Minneapolis, MN 55403
      View Details
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    212 Ridgewood Ave
    Minneapolis, MN 55403
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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.

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