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

    2900 42nd St Minneapolis, MN 55406-3136

    • Commercial real estate
    • 8,715 SF
    • 0.35 lot acres
    OFF-MARKET
    Last Sale
    Feb 08, 2021
    $750,000
    Value Estimations
    $710,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US46-3205823
    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

    • Angry Catfish Bicycle / (Bike/Boat/Book/etc) Store

    Property Details for 2900 42nd St

    Year built
    1928
    Construction
    CONCRETE
    Lot size
    0.35 lot acres
    Property size
    8,715 SF
    Zone code
    C1
    Property type
    Commercial real estate
    APN
    12-028-24-14-0010
    APU
    1202824140010

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $615,000
      ML approach
      $560,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $956,000
      Market price range: $768k - $1.89M
      AI Estimate
      $616,000
      Market price range: $426k - $1.32M

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

    Location Insight

    • Map
    • Local Demand
    City
    Minneapolis
    County
    Hennepin
    State
    Minnesota
    Longitude
    -93.2305
    Latitude
    44.9272
    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
    $29,080
    $246,200
    $748,800
    $995,000
    -
    $246,200
    $748,800
    $995,000

    Comparable in this City

    • Value Estimation
      $2,845,000
      24,000 SF

      2601 Minnehaha Ave

      COMMERCIAL (GENERAL) • 24,000 SF
      2601 Minnehaha Ave, Minneapolis, MN 55406-1530
      View Details
    • Value Estimation
      $815,000
      6,862 SF

      4101 37th S Ave

      COMMERCIAL (GENERAL) • 6,862 SF
      4101 37th S Ave, Minneapolis, MN 55406-3425
      View Details
    • Value Estimation
      $845,000
      7,110 SF

      2503 38th St

      COMMERCIAL (GENERAL) • 7,110 SF
      2503 38th St, Minneapolis, MN 55406-3019
      View Details
    • Value Estimation
      $2,915,000
      24,595 SF

      2600 38th St

      COMMERCIAL (GENERAL) • 24,595 SF
      2600 38th St, Minneapolis, MN 55406-3022
      View Details
    • Value Estimation
      $5,660,000
      47,733 SF

      3017 31st St

      COMMERCIAL (GENERAL) • 47,733 SF
      3017 31st St, Minneapolis, MN 55406-2093
      View Details
    • Value Estimation by Request
      2,400 SF

      2412 26th St

      COMMERCIAL (GENERAL) • 2,400 SF
      2412 26th St, Minneapolis, MN 55406-1237
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Vacant Lot in Established Neighborhood

      Vacant lot suitable for infill development, parking, or mixed-use projects.
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      Commercial lot in high-traffic Minneapolis location, ideal for business.
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      Turnkey Automotive Business & Real Estate

      Established automotive business with real estate in prime Minneapolis location.
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      6,800 SF

      Contractor Showroom with Storage Yard

      1.33 acre site with remodeled buildings and secure yard.
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      Prime Minneapolis Executive Office Building

      Fully Leased, 12,968 SF, High Occupancy
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    Similar Nearby for Lease

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      5,500 SF

      Outdoor Storage Space Available

      5,500 SF outdoor storage space for lease.
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      4,898 SF

      Hiawatha Ave Retail Space

      Minneapolis Retail Space Available Now
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      Retail Space with Patio

      Retail space with patio in transit-rich Minneapolis neighborhood.
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      4,800 SF

      Industrial Space with Office Conversion

      4,800 SF industrial space with potential office conversion.
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      3,315 SF

      Retail and Apartment Complex

      Retail space anchored by Cub Foods with apartments and parking.
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    • Contact for pricing
      835 SF

      Minneapolis Retail Space For Lease

      Retail space in established Minneapolis shopping center with high visibility.
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      View Details
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    2900 42nd St
    Minneapolis, MN 55406-3136
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    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
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