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    2929 University Ave Minneapolis, MN 55117
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    Property profile & analytics

    2929 University Ave Minneapolis, MN 55117

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    • Retail space
    Off-Market
    Property ID
    US46-0790398
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • The Link Minneapolis / Apartment Complex / Apartment Rental Agency
    • Ward Law Offices Ltd / Law Firm
    • Goudy Craig A / Law Firm
    • C&h International / Travel Agency
    • UAW Organizing / Advocacy Group

    Property Details for 2929 University Ave

    Year built
    2018
    Property type
    Retail space
    Property subtype
    Commercial real estate

    Description

    Address 2929 University Ave City, State Minneapolis, MN Space Available 5,422 SF Total Space 1 3,822 SF Space 3 1,600 SF Lease Rate $22.00—$24.00 net CAM & Tax 2022 $10 PSF Year Built 2018 Parking 30 Stalls

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Minneapolis
    County
    Anoka
    State
    Minnesota
    Longitude
    -93.2143354
    Latitude
    44.9713085

    Comparable in this City

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      2,001 SF

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      2,001 SF newly constructed office/retail space available for rent.
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      2,978 SF

      Retail Space on Rice Street

      Retail property for lease in a high-traffic location.
      1625 Rice St, Saint Paul, MN 55117
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      1,187 SF

      Office Space Sublease Opportunity

      Sublease office space with shared conference room and ample parking.
      219-223 Little Canada Rd E, Little Canada, MN 55117
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      Office and Flex Space Available

      Office and flex spaces with highway access and amenities.
      2935 Country Dr, Little Canada, MN 55117
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      7,395 SF

      Office Suite with Freeway Visibility

      Office suite featuring private offices, restrooms, and freeway visibility.
      2885 Country Dr, Little Canada, MN 55117
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      Office Space For Rent

      960 SF office space available in Little Canada, MN.
      75 W Viking Dr, Little Canada, MN 55117
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    Similar Nearby for Sale

    • $179,000
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      St Paul Mixed-Use Opportunity

      Mixed-use property featuring retail space and residential unit.
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    • $2,180,000
      0.23 Acres

      Updated Mixed-Use Building For Sale

      Updated mixed-use building with fully leased units, near State Capitol.
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      11,915 SF

      Retail Space on Rice Street

      Retail space for lease with excellent visibility and access.
      2680-2688 Rice St, Little Canada, MN 55117
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      5,363 SF

      Retail Property on Rice Street

      Retail property available for sale with 5363 square feet.
      1566 Rice St, Saint Paul, MN 55117
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      14,456 SF

      Retail Property with Established Tenants

      Retail property featuring four tenants and ample parking.
      945 Rice St, Saint Paul, MN 55117
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      0.74 Acres

      Land For Sale, Little Canada

      Commercial land available in Little Canada, Minnesota.
      70 County Road C W, Little Canada, MN 55117
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    Similar Nearby for Lease

    • Contact for pricing
      2,001 SF

      Little Canada Office/Retail Space

      2,001 SF newly constructed office/retail space available for rent.
      125 Little Canada Rd W, Little Canada, MN 55117
      View Details
    • Contact for pricing
      2,978 SF

      Retail Space on Rice Street

      Retail property for lease in a high-traffic location.
      1625 Rice St, Saint Paul, MN 55117
      View Details
    • Contact for pricing
      3,755 SF

      Maplewood Office Space For Rent

      Office space available in a three-building complex near St. Paul.
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      835 SF

      Maplewood Office Space Available

      835 square feet of office space for rent.
      1973 Sloan Pl, Maplewood, MN 55117
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    • Contact for pricing
      1,187 SF

      Office Space Sublease Opportunity

      Sublease office space with shared conference room and ample parking.
      219-223 Little Canada Rd E, Little Canada, MN 55117
      View Details
    • Contact for pricing

      Office and Flex Space Available

      Office and flex spaces with highway access and amenities.
      2935 Country Dr, Little Canada, MN 55117
      View Details
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    2929 University Ave
    Minneapolis, MN 55117
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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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