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    Property profile & analytics

    3200 Lexington N Ave Shoreview, MN 55126-8135

    • Medical Office Space
    • 7,759 SF
    • 0.88 lot acres
    OFF-MARKET
    Value Estimations
    $685,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US46-0692597
    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

    • Medical Office Space

    Property Details for 3200 Lexington N Ave

    Year built
    1974
    Construction
    WOOD FRAME
    Lot size
    0.88 lot acres
    Property size
    7,759 SF
    Zone code
    E
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    35-30-23-33-0104
    APU
    353023330104

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $667,000
      Market price range: $539k - $1.53M

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

    Location Insight

    • Map
    • Local Demand
    City
    Shoreview
    County
    Ramsey
    State
    Minnesota
    Longitude
    -93.1464
    Latitude
    45.0373
    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
    $20,598
    $381,200
    $393,300
    $774,500
    -
    $381,200
    $393,300
    $774,500

    Comparable in this City

    • Value Estimation
      $4,815,000
      49,809 SF

      4166 Lexington N Ave, Unit 2

      MEDICAL BUILDING • 49,809 SF
      4166 Lexington N Ave, Shoreview, MN 55126-6106
      View Details
    • Value Estimation by Request
      3,172 SF

      3508 Rice St

      MEDICAL CLINIC • 3,172 SF
      3508 Rice St, Saint Paul, MN 55126-3170
      View Details
    • Value Estimation
      $1,500,000
      15,497 SF

      4700 Lexington N Ave

      MEDICAL CLINIC • 15,497 SF
      4700 Lexington N Ave, Shoreview, MN 55126-5867
      View Details
    • Value Estimation
      $910,000
      7,840 SF

      404 Hwy 96th W

      MEDICAL CLINIC • 7,840 SF
      404 Hwy 96th W, Shoreview, MN 55126-1901
      View Details
    • Value Estimation by Request
      3,082 SF

      3500 Rice St

      MEDICAL CLINIC • 3,082 SF
      3500 Rice St, Saint Paul, MN 55126-3043
      View Details
    • Value Estimation
      $1,090,000
      11,066 SF

      480 Hwy 96th W

      CONDOMINIUM OFFICES • 11,066 SF
      480 Hwy 96th W, Shoreview, MN 55126-3209
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      34,799 SF

      Arden Hills Office Building

      34,799 SF office building on 5.66 acres in Arden Hills.
      3499 N Lexington Ave, Arden Hills, MN 55126
      View Details
    • Contact for pricing
      5,544 SF

      Charming Office Space For Rent

      Lower-level office suite with pond view and convenient location.
      3252-3254 Rice St, Little Canada, MN 55126
      View Details
    • $84,900
      0.34 Acres

      Commercial Lot on Rice Street

      Commercial land for sale with frontage on Rice Street.
      32xx Rice St, Shoreview, MN 55126
      View Details
    • Contact for pricing

      Prime Commercial Land Opportunity

      2.5-acre commercial land in a high-traffic location.
      3737 Lexington Ave N, Arden Hills, MN 55126
      View Details
    • Contact for pricing
      6,678 SF

      Standalone Building with Drive-Thru

      Standalone building with existing drive-thru, built in 2002.
      5950 Rice Creek Pkwy, Shoreview, MN 55126
      View Details
    • $519,000
      0.39 Acres

      Lakefront Lot Ready for Building

      0.39-acre lakefront lot on Island Lake in Shoreview, MN.
      782 Randy Ave, Shoreview, MN 55126
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Sub-Lease Medical/Office Space Available

      2,250 SF suite available for sub-lease through May 2026.
      4570 Churchill St, Shoreview, MN 55126
      View Details
    • Contact for pricing

      Shoreview Office Space Available

      Office spaces available, ranging from 669 to 1,141 SqFt.
      470 Highway 96 W, Shoreview, MN 55126
      View Details
    • Contact for pricing

      Shoreview Industrial Space Available

      Industrial space with office and warehouse components, available June 1st, 2024.
      559 Ste 573 & 575, Shoreview, MN 55126
      View Details
    • $18 SF/Yr

      Saint Paul Office Space For Rent

      Lower-level office suite with natural light and pond view.
      3252 Rice St, Saint Paul, MN 55126
      View Details
    • Contact for pricing
      2,350 SF

      Shoreview Office Space For Rent

      Available office space in Shoreview with easy highway access.
      5985 Rice Creek Pkwy, Shoreview, MN 55126
      View Details
    • Contact for pricing
      11,890 SF

      Shoreview Office Space For Rent

      Office space with easy access to I-35W and retail.
      5939 Rice Creek Pkwy, Shoreview, MN 55126
      View Details
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    Shoreview, MN 55126-8135
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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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