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

    2303 Kennedy NE St Minneapolis, MN 55413-2635

    • Commercial real estate
    • 48,800 SF
    • 0.56 lot acres
    OFF-MARKET
    Value Estimations
    $1,615,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US46-0475741
    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

    • Roe's International Furniture Services / Home Decor Store / Furniture & Home Goods
    • McCarty Quinn Design Studio LLC / IT Consulting Firm
    • Nimbus Theatre / Theater & Performing Art Venue
    • The Crane Theater / Theater & Performing Art Venue
    • Accurate Processing / Business Management Consultant

    Property Details for 2303 Kennedy NE St

    Year built
    1922
    Construction
    CONCRETE
    Lot size
    0.56 lot acres
    Property size
    48,800 SF
    Zone code
    I2
    Property type
    Commercial real estate
    APN
    13-029-24-41-0017
    APU
    1302924410017

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,085,000
      Market price range: $977k - $6.99M

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

    Location Insight

    • Map
    • Local Demand
    City
    Minneapolis
    County
    Hennepin
    State
    Minnesota
    Longitude
    -93.2282
    Latitude
    44.9954
    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
    $66,015
    $201,000
    $1,759,000
    $1,960,000
    -
    $201,000
    $1,759,000
    $1,960,000

    Comparable in this City

    • Value Estimation by Request
      1.58 Acres

      110 1st Ave Nev

      COMMERCIAL (GENERAL) • 1.58 Acres
      110 1st Ave Nev, Minneapolis, MN 55413-2235
      View Details
    • Value Estimation by Request
      435 SF

      20 2nd St Nec102

      COMMERCIAL (GENERAL) • 435 SF
      20 2nd St Nec102, Minneapolis, MN 55413-2264
      View Details
    • Value Estimation by Request
      544 SF

      20 2nd St Nec101

      COMMERCIAL (GENERAL) • 544 SF
      20 2nd St Nec101, Minneapolis, MN 55413-2264
      View Details
    • Value Estimation
      $1,290,000
      13,640 SF

      1612 2nd NE St

      COMMERCIAL (GENERAL) • 13,640 SF
      1612 2nd NE St, Minneapolis, MN 55413-1138
      View Details
    • Value Estimation by Request
      4,859 SF

      1429 2nd NE St

      COMMERCIAL (GENERAL) • 4,859 SF
      1429 2nd NE St, Minneapolis, MN 55413-1133
      View Details
    • Value Estimation by Request
      58 SF

      20 2nd St Nec2001

      COMMERCIAL (GENERAL) • 58 SF
      20 2nd St Nec2001, Minneapolis, MN 55413-2264
      View Details

    Similar Nearby for Sale

    • $657,000
      0.75 Acres

      East Hennepin Ave Commercial Land

      Prime Minneapolis land, build-to-suit opportunity.
      1909-1917 Hennepin Ave, Minneapolis, MN 55413
      View Details
    • Contact for pricing
      95,500 SF

      Hennepin Square Office Building

      95,500 SF Minneapolis Office Space
      2021 Hennepin Ave, Minneapolis, MN 55413
      View Details
    • Contact for pricing
      53,071 SF

      Minnesota Medical Treatment Centers Portfolio

      Portfolio of three medical treatment centers with long-term tenants.
      3329 University Ave SE, Minneapolis, MN 55413
      View Details
    • Contact for pricing
      25,734 SF

      Transit-Adjacent Mixed-Use Redevelopment Opportunity

      Mixed-use property with redevelopment potential in Prospect Park neighborhood.
      3430 University Ave SE, Minneapolis, MN 55413
      View Details
    • $1,750,000
      3,531 SF

      Central Avenue Commercial Portfolio

      Multi-parcel property in Northeast Minneapolis with redevelopment potential.
      2626-2650 Central Ave NE, Minneapolis, MN 55413
      View Details
    • Contact for pricing
      7,052 SF

      Retail Property in Minneapolis

      Retail property available for sale in Minneapolis, Minnesota.
      301 Harrison St NE, Minneapolis, MN 55413
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      10,470 SF

      Charming Office Space in Minneapolis

      Charming office space in the heart of Northeast Minneapolis.
      1325 Quincy St NE, Minneapolis, MN 55413
      View Details
    • Contact for pricing
      3,345 SF

      Minneapolis Flex and Office Space

      Flex and office spaces available for rent in Minneapolis.
      1121 Jackson St NE, Minneapolis, MN 55413
      View Details
    • $14 SF/Yr
      4,000 SF

      Minneapolis Office Space For Rent

      4,000 square foot office space available for lease.
      321 Wilson St NE, Minneapolis, MN 55413
      View Details
    • $15 SF/Yr
      1,100 SF

      Retail or Flex Office Space

      Two-level retail or office space with daylight windows.
      2601 Hennepin Ave, Minneapolis, MN 55413
      View Details
    • $15 SF/Yr
      1,004 SF

      Historic Industrial Property in Minneapolis

      Prominent industrial property in Northeast Arts District available for lease.
      429-451 Taft St NE, Minneapolis, MN 55413
      View Details
    • Contact for pricing
      17,500 SF

      Riverside Plaza Retail/School Space

      17,500 SF retail/school space in move-in condition available for lease.
      1600 S 6Th St, Minneapolis, MN 55413
      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.
    2303 Kennedy NE St
    Minneapolis, MN 55413-2635
    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.