New search
Property profile & analytics
FOR LEASE
Commercial real estate
2515 University Ave SE, Minneapolis, MN 55414
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US46-1081638
For Lease
1 / 3
$12 SF/Yr
2515 University Ave SE, Minneapolis, MN 55414
View Listing →
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1999
Construction
WOOD
Total area
442,694 SF
Lot
4.27 ac (186,001 SF)
Zoning code
C3A
APN
30-029-23-24-0059
UPID
US46-1081638
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
University Village Apartments Apartment Building Apartment Complex
-
University Village - Lot #5 Parking Lot & Garage
-
Zanbaq Bakery Bakery Specialty Food Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$39.94M
Blend (final)
Blend
$32.64M
Owner & transaction history
2515 University Avenue Se LLC · 7 yrs held
2515 University Avenue Se LLC
since 2019
2 recorded transactions
Zoning & alternative use
C3A · Minneapolis, MN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Minneapolis submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Minneapolis submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$32.64M
Range $29.37M – $35.90M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$74 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$122,807
Tax year 2023
Assessed value
$4,013,200
Assessed 2023
Previous assessed
$3,648,300
+10.0% YoY
Effective rate
3.06%
On assessed value
Assessed land
$511,100
Assessed improvement
$3,502,100
Land market value
$511,100
Improvement market value
$3,502,100
Total market value
$4,013,200
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
For Lease
Year built
1999
Construction
WOOD
Heating
FORCED AIR
Cooling
YES
Stories
4
Total area
442,694 SF
Lot
4.27 ac (186,001 SF)
Zoning code
C3A
APN
30-029-23-24-0059
UPID
US46-1081638
Jurisdiction
HENNEPIN
Zoning & alternative use
C3A · Minneapolis, MN
Zoning C3A · permitted uses
C3A · Minneapolis, MN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Minneapolis. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1999
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
4
Lot
4.27 ac
Current owner
From public records · entity-resolved
2515 University Avenue Se LLC
Entity
Mailing address
319 15TH AVE SE, MINNEAPOLIS, MN 55455-0118
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 5, 2019
$43,000,000
2515 University Avenue Se LLC
Wedum University Village LLC
Warranty Deed
$34,800,000 · Regents/the Univ/mn
—
—
Wedum University Village LLC
—
Deed Of Trust
related
$22,799,500 · Dougherty Mortgage LLC
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
