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    3033 Excelsior Blvd Minneapolis, MN 55416
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    3033 Excelsior Blvd Minneapolis, MN 55416

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    • Commercial real estate
    • 158,970 SF
    • 4.81 lot acres
    For Lease
    $3,935,000
    View Listing →
    Lakeside Center Office Sublease Opportunity For Lease
    $3,935,000
    28,995 SF

    Lakeside Center Office Sublease Opportunity

    Office spaces with lake views, flexible options, and prime location.

    3033 Excelsior Blvd, Minneapolis, MN
    View Listing
    Property ID
    US46-0122813
    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

    • Laurie Kottke Fine Jewelers / (Bike/Boat/Book/etc) Store
    • West Lake Dental Center / Dental Office
    • Dr. Ronald E. Erickson, DDS / Dental Office
    • Dr. Kale D. Langley D.D.S. / Dental Office
    • Dr. Barry D. Garfinkel, MD / Physician

    Property Details for 3033 Excelsior Blvd

    Year built
    1955
    Construction
    STEEL FRAME
    Lot size
    4.81 lot acres
    Property size
    158,970 SF
    Zone code
    OR2
    Property type
    Commercial real estate
    APN
    05-028-24-12-0005
    APU
    502824120005

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $4,804,000
      Market price range: $1.71M - $4.80M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $3,955,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Minneapolis
    County
    Hennepin
    State
    Minnesota
    Longitude
    -93.3184
    Latitude
    44.9475
    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
    $944,009
    $8,493,400
    $21,856,600
    $30,350,000
    -
    $8,493,400
    $21,856,600
    $30,350,000

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    • Value Estimation by Request
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      44,850 SF

      5699 16th St

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    • Value Estimation
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      5101 Minnetonka Blvd, Unit 1

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      5101 Minnetonka Blvd, Minneapolis, MN 55416-2201
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    • Value Estimation
      $1,810,000
      157,632 SF

      4601 Excelsior Blvd

      COMMERCIAL (GENERAL) • 157,632 SF
      4601 Excelsior Blvd, St Louis Park, MN 55416-4960
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1.45 Acres

      Saint Louis Park Office Suite

      Private office suite in well-maintained building near Hwy 100.
      6250 Excelsior Blvd, Saint Louis Park, MN 55416
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      2,535 SF

      Excelsior Blvd Commercial Land Available

      Land available on Excelsior Blvd with high traffic volume.
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      15,078 SF

      St. Louis Park Office Building

      High-identity office building with I-394 frontage and on-site parking.
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      11,088 SF

      St. Louis Park Office Building

      Two-story office building with basement in St. Louis Park.
      5501 Excelsior Blvd, St Louis Park, MN 55416
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      5,200 SF

      Excelsior Blvd Retail Opportunity

      Retail property on Excelsior Blvd in St. Louis Park.
      4631 Excelsior Blvd, St Louis Park, MN 55416
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      23,076 SF

      Industrial Portfolio on Alabama Avenue

      Industrial portfolio available for sale in St Louis Park.
      3978-3990 Alabama Ave S, St Louis Park, MN 55416
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    Similar Nearby for Lease

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      20,645 SF

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      Retail space with convenient access to highways and diverse amenities.
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      Office Space Near Light Rail

      Office space available near highways, trails, and light rail.
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      18,761 SF

      Furnished Office Space Available

      Ready-to-occupy, furnished office space with open layout and private offices.
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      548 SF

      St Louis Park Specialty Property

      Specialty property available for rent in St Louis Park.
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      West End Mixed-Use Development

      Mixed-use development in St. Louis Park with high visibility.
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      Fully Occupied Retail Property

      7,500 SF commercial property with three tenants and billboard revenue.
      6002 Excelsior Blvd, St Louis Park, MN 55416
      View Details
    View Listing
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    3033 Excelsior Blvd
    Minneapolis, MN 55416
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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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