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Property profile & analytics
OFF-MARKET
Estimated value
$3,690,000
Industrial properties
2801 Hennepin Ave, Minneapolis, MN 55413-2916
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US46-0737990
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1931
Construction
CONCRETE
Total area
36,596 SF
Lot
2.29 ac (99,752 SF)
Zoning code
I1
APN
18-029-23-43-0036
UPID
US46-0737990
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
-
Haakenson Hardwood Floors General Contractor Renovation Specialist
-
Indoff Inc Big Box & Wholesale Store Furniture & Home Goods
-
IM=X Pilates & Fitness Gym & Fitness Center
-
Uptown Art Fair Music Venue
-
Nag Rupak Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.69M
Owner & transaction history
Hennepin And 28th LLC · 4 yrs held
Hennepin And 28th LLC
since 2021
6 recorded transactions
Zoning & alternative use
I1 · 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$101 / 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
$81,731
Tax year 2023
Assessed value
$2,690,000
Assessed 2023
Previous assessed
$1,852,000
+45.2% YoY
Effective rate
3.04%
On assessed value
Assessed land
$878,800
Assessed improvement
$1,811,200
Land market value
$878,800
Improvement market value
$1,811,200
Total market value
$2,690,000
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1931
Construction
CONCRETE
Heating
HOT WATER
Cooling
YES
Stories
1
Total area
36,596 SF
Lot
2.29 ac (99,752 SF)
Zoning code
I1
APN
18-029-23-43-0036
UPID
US46-0737990
Jurisdiction
HENNEPIN
Zoning & alternative use
I1 · Minneapolis, MN
Zoning I1 · permitted uses
I1 · 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
1931
Construction
CONCRETE
Heating
HOT WATER
Cooling
Yes
Stories
1
Lot
2.29 ac
Current owner
From public records · entity-resolved
Hennepin And 28th LLC
Entity
Mailing address
4725 EXCELSIOR BLVD STE #300, MINNEAPOLIS, MN 55416-3046
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 27, 2021
$2,936,000
Hennepin And 28th LLC
2801 Associates LLC
Deed
$2,055,200 · Royal Cu
Sep 27, 2021
—
Hennepin And 28th LLC
—
Deed
related
$2,055,200 · Royal Cu
Aug 14, 2020
—
Fulford Family Ptshp LP
—
Deed
related
$500,000 · Bridgewater Bk
Apr 20, 2018
$2,500,000
2801 Associates LLC
Namakan Properties LLC
Warranty Deed
$1,780,000 · Midcountry Bk
Aug 15, 2012
—
Michael J Fulford
Fulford George W JR Trust
Quit Claim Deed
related
—
—
—
Fulford Family Ptshp LP
—
Deed Of Trust
related
$500,000 · Bridgewater Bk
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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