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

    2229 Broadway Ave Minneapolis, MN 55411-1730

    • Commercial real estate
    • 9,606 SF
    • 0.28 lot acres
    OFF-MARKET
    Value Estimations
    $730,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US46-0788397
    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 2229 Broadway Ave

    Year built
    1909
    Construction
    TILT-UP CONCRETE
    Lot size
    0.28 lot acres
    Property size
    9,606 SF
    Zone code
    C1
    Property type
    Commercial real estate
    APN
    17-029-24-11-0067
    APU
    1702924110067

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $803,000
      Market price range: $297k - $1.37M
      AI Estimate
      $655,000
      Market price range: $265k - $1.07M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $805,000
      Current use
      INDUSTRIAL (GENERAL)
      $895,000
      Change: +11% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Minneapolis
    County
    Hennepin
    State
    Minnesota
    Longitude
    -93.3095
    Latitude
    45.0044
    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
    $2,204
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $605,000
      12,181 SF

      721 12th N Ave

      COMMERCIAL (GENERAL) • 12,181 SF
      721 12th N Ave, Minneapolis, MN 55411
      View Details
    • Value Estimation by Request
      5,830 SF

      1800 Olson Memorial Hwy

      COMMERCIAL (GENERAL) • 5,830 SF
      1800 Olson Memorial Hwy, Minneapolis, MN 55411-3835
      View Details
    • Value Estimation
      $585,000
      7,680 SF

      1701 Oak Park N Ave

      COMMERCIAL (GENERAL) • 7,680 SF
      1701 Oak Park N Ave, Minneapolis, MN 55411-3943
      View Details
    • Value Estimation by Request
      3,960 SF

      2418 Plymouth N Ave

      COMMERCIAL (GENERAL) • 3,960 SF
      2418 Plymouth N Ave, Minneapolis, MN 55411-3606
      View Details
    • Value Estimation by Request
      4,361 SF

      1306 Plymouth N Ave

      COMMERCIAL (GENERAL) • 4,361 SF
      1306 Plymouth N Ave, Minneapolis, MN 55411-4021
      View Details
    • Value Estimation by Request
      5,420 SF

      1119 Morgan N Ave

      COMMERCIAL (GENERAL) • 5,420 SF
      1119 Morgan N Ave, Minneapolis, MN 55411-3804
      View Details

    Similar Nearby for Sale

    • $1,350,000
      27,000 SF

      Lyndale Ave N Commercial Property

      Church, School, & Apartment Complex
      2521 Lyndale Ave, Minneapolis, MN 55411
      View Details
    • $325,000
      9,157 SF

      Prime Minneapolis Commercial Space

      Spacious building, needs renovation, great potential.
      1113 Broadway Ave, Minneapolis, MN 55411
      View Details
    • Contact for pricing
      10,400 SF

      Minneapolis Manufacturing/Redevelopment Opportunity

      Centrally located industrial property suitable for manufacturing or redevelopment.
      156 Irving Ave N, Minneapolis, MN 55411
      View Details
    • Contact for pricing
      22,452 SF

      Modern Warehouse Office Building

      Authentic office building in a vibrant mixed-use neighborhood.
      729 N Washington Ave, Minneapolis, MN 55411
      View Details
    • $334,900
      2,259 SF

      Classic Victorian Minneapolis Duplex

      Well-maintained duplex with hardwood floors, original woodwork, prime location.
      735 31St Ave N, Minneapolis, MN 55411
      View Details
    • $6,000,000

      Redevelopment Site Near University Campus

      1.15-acre redevelopment site near the University of Minnesota.
      1407 Washington Ave S, Minneapolis, MN 55411
      View Details

    Similar Nearby for Lease

    • $9 SF/Yr
      145,000 SF

      Northwind Lofts: Creative Minneapolis Space

      145,000 SF Industrial/Office Lofts
      2400 2Nd St, Minneapolis, MN 55411
      View Details
    • $16 SF/Yr
      16,516 SF

      Creative Office Space Available

      Design-forward office building with skyline views and modern amenities.
      201 Irving Ave N, Minneapolis, MN 55411
      View Details
    • Contact for pricing
      5,400 SF

      Golden Valley Retail Landmark

      Retail space in a revitalized Golden Valley shopping center.
      7860-8040 Olson Memorial Hwy, Golden Valley, MN 55411
      View Details
    • $18 SF/Yr
      10,518 SF

      Retail Space in North Minneapolis

      Retail space available in high-traffic North Minneapolis shopping center.
      1000-1030 Broadway Ave, Minneapolis, MN 55411
      View Details
    • $1,495,000
      5,000 SF

      Retail/Office Space on Lyndale Avenue

      5,000 SF retail/office space with great visibility and access.
      2724-2728 Lyndale Ave S, Minneapolis, MN 55411
      View Details
    • Contact for pricing
      1,397 SF

      Penn Lowry Crossing Retail Space

      Retail space in mixed-use development at Penn Lowry Crossing.
      3110-3120 Penn Ave N, Minneapolis, MN 55411
      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.
    2229 Broadway Ave
    Minneapolis, MN 55411-1730
    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.