Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    2221 15Th Ave S Minneapolis, MN 55404
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2221 15Th Ave S Minneapolis, MN 55404

    View on Map
    • Retail space
    • 6,206 SF
    Off-Market
    Property ID
    US46-0333323
    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

    • Retail space

    Property Details for 2221 15Th Ave S

    Year built
    1911
    Property size
    6,206 SF
    Property type
    Retail space
    Property subtype
    Mixed-use properties

    Description

    Unique opportunity to own nearly 1/4 city block in MPLS! Mixed-use building - currently 2 units on main floor rented by the same long term tenant $2500/month - steady & reliable income. They would prefer to stay. 2 Residential apartments above - 1BR apartment on north side is month to month - $750 ... (under market). Very large & unique studio apartment is owner occupied with 12 foot ceilings & large roof top deck shared with the other one bedroom apartment - could easily rent for $1250-1500 & could be a 2-3 BR with some additional framing. Large unfinished space in the basement could be added as FSF to the commercial space or be turned into another unit. 4 car+ garage is currently used by the owners, but has been rented to neighbors/tenants in the past for additional income. Close date is flexible.

    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
    -93.2533004
    Latitude
    44.9602888

    Comparable in this City

    • $715,000
      0.21 Acres

      Minneapolis Town-home Style Apartment Building

      Six-unit building near downtown Minneapolis, close to universities and amenities.
      924 21St Ave S, Minneapolis, MN 55404
      View Details
    • Contact for pricing

      Minneapolis 30-Unit Apartment Building

      30-unit apartment building in Whittier, Minneapolis, near downtown.
      2427 Blaisdell Ave, Minneapolis, MN 55404
      View Details
    • Contact for pricing
      18,894 SF

      Minneapolis Multifamily Investment Opportunity

      39 units, 100% occupied, walkable location near downtown Minneapolis.
      2323 Clinton Ave, Minneapolis, MN 55404
      View Details
    • $85,000

      Charming Condo Near Downtown Minneapolis

      Sun-drenched condo with updated kitchen and city views.
      1812 Clinton Ave, Minneapolis, MN 55404
      View Details
    • New
      $880,000
      Pending

      Multifamily Building in South Minneapolis

      Stabilized 11-unit multifamily building with long-term tenants in place.
      1810 Portland Ave, Minneapolis, MN 55404
      View Details
    • $525,000
      6,654 SF

      Minneapolis 8-Unit Apartment Building

      Eight-unit apartment building, value-add opportunity.
      2501 17Th Ave, Minneapolis, MN 55404
      View Details

    Similar Nearby for Sale

    • $525,000
      6,654 SF

      Minneapolis 8-Unit Apartment Building

      Eight-unit apartment building, value-add opportunity.
      2501 17Th Ave, Minneapolis, MN 55404
      View Details
    • Contact for pricing
      4,926 SF

      Whittier Five-Unit Multifamily Building

      Renovated five-unit building in high-demand Minneapolis neighborhood.
      2420 4Th Ave S, Minneapolis, MN 55404
      View Details
    • Contact for pricing

      Whittier Neighborhood Updated Condo

      Updated 1-bedroom condo in Whittier, close to Eat Street.
      2530 1St Ave S, Minneapolis, MN 55404
      View Details
    • $1,999,900
      0.14 Acres

      Modern Multifamily Building Near MCAD

      Newer 6-unit building near Minneapolis College of Art and Design.
      2413 1St Ave S, Minneapolis, MN 55404
      View Details
    • $715,000
      0.21 Acres

      Minneapolis Town-home Style Apartment Building

      Six-unit building near downtown Minneapolis, close to universities and amenities.
      924 21St Ave S, Minneapolis, MN 55404
      View Details
    • Contact for pricing

      Minneapolis 30-Unit Apartment Building

      30-unit apartment building in Whittier, Minneapolis, near downtown.
      2427 Blaisdell Ave, Minneapolis, MN 55404
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      4,797 SF

      Eat Street Coffee Shop Space

      Established coffee shop space on Eat Street in Minneapolis.
      2548 Nicollet Ave, Minneapolis, MN 55404
      View Details
    • Contact for pricing
      4,000 SF

      Retail/Studio Space with Garage Door

      Street-facing retail/studio space featuring a glass overhead garage door.
      1915 E 22Nd St, Minneapolis, MN 55404
      View Details
    • Contact for pricing
      13,000 SF

      Retail Space in Minneapolis

      Retail space with parking in a developed residential area.
      929-949 Portland Ave, Minneapolis, MN 55404
      View Details
    • Contact for pricing
      3,600 SF

      Retail Space in Village Square

      Retail space available in a busy Bloomington shopping center.
      7817-7839 Portland Ave S, Bloomington, MN 55404
      View Details
    • Contact for pricing

      Office Space For Lease

      Office space available for lease in Minneapolis, MN.
      122 W Franklin Ave, Minneapolis, MN 55404
      View Details
    • Contact for pricing

      Bloomington Warehouse and Office HQ

      Centrally located warehouse and office space available for sale/lease.
      7900 Chicago Ave S, Bloomington, MN 55404
      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.
    2221 15Th Ave S
    Minneapolis, MN 55404
    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.
    Sign Up Successful!
    You now have access to more from Realmo!